Risk Management and Compliance

With the growing pressure from the part of stakeholders on organizations, the growing number of regulations and standards and the increasing importance of having more control and transparency on results, organizations are adopting processes to keep risks under control and within acceptable limits.

These initiatives have been adopted in a widespread and isolated manner throughout the organization. Different governance, risk management and control practices often times prove to be redundant or generate conflicts of interest, loss of productivity and unnecessary expenses.

In this context, it is necessary to integrate different corporate initiatives such as physical safety, occupational health, information security, project sale and delivery, products or services, human resources management, customer care, marketing, Information Technology management, boards of directors, ethics committees, project management offices, among many other initiatives of the organization’s GRC program.

This initiative does not belong to one specific area, or one business process from one specific department, Governance, Risk, Compliance or Controls - which should all work together.

It is actually a proposal to integrate the enterprise with one single work model to prevent expenses with redundant controls, conflicts in decision making and to facilitate business alignment.

And it is within this context that CTI helps organizations adopt an approach that integrates corporate governance, risk and compliance by adopting integrated GRC systems.

Integrated risk and compliance management system

Risks are inherent to every business process, in every organization. The key is how they are identified, assessed and controlled.

There is no doubt that those who better manage their risks have a major competitive advantage, because they are better positioned and prepared to plan how they are going to take these risks based on their knowledge of threats and opportunities.

There are several advantages:

  • Higher probability to achieve your business objectives;

  • Stronger trust relations with investors and shareholders (increasingly stricter and less tolerant to failure);

  • Reduced financial costs, among other examples.

CTI helps organizations adopt an integrated corporate governance, risk and compliance approach by adopting IBM® OpenPages® GRC Platform – an integrated governance, risk and compliance platform.

This integrated platform allows organizations to manage risks and regulatory challenges throughout the project. It provides a set of key services and functional components related to risk and compliance, such as:

  • Operational Risk;
  • Policies and compliance;
  • Financial controls;
  • IT governance
  • Internal audits.

The OpenPages GRC Platform equips organizations with in-depth insights about all aspects related to risk, compliance and corporate governance.

  • It adapts to your compliance and risk management methodology.
  • It maintains your existing risk and compliance management processes while improving overall efficiency and performance.
  • It reduces your development and implementation costs - it does not require customized programming.
  • Flexible and configurable – it allows you to expand your compliance and risk management efforts as necessary to handle future challenges.

Product used in the solution:

  • IBM® OpenPages® GRC Platform