Building a GRC Program: Assessing Stakeholder Needs and Readiness
To build out detailed priorities and goals for the GRC program, you will need to engage in and lead conversations that will help to develop and drive a sustainable, cross-functional set of initiatives. As an example, the board and senior management will require a clear and conformed view of risk across the organization, critical to defining and achieving strategic objectives. Dialogue will be required around defining risk appetite and institutionalizing a risk culture across the organization, including ways to enable individuals to act within boundaries to reduce the risk of noncompliance and adverse outcomes. Risk leaders will need to drive collaboration with other key functional executives and professionals in the execution of an integrated strategy supported by a high-value distributed program. In particular, the team will need to not only identify downside risks, but also continuously identify opportunities for the organization to execute on its strategic and operational objectives.
The following table, provided by MetricStream, outlines the top needs of each stakeholder group that can help guide your conversations on priorities and needs for the GRC program.
Learn more: GRC Programs: Building the Business Case for Value.