I just got back from Axentis’s annual user conference, Engage!, which took place September 18-20 at Amelia Island, Florida and left with a few things to pass along. This, of course, should not overshadow the progress and the motivation of terrifically talented GRC professionals in attendance. One of the biggest key messages, which I have been advocating for quite some time now, is the concept of an enterprise-wide GRC approach. According to many Engage! attendees I spoke with, this idea is starting to become a reality in many of their organizations.
Engage! attendees brought up many great topics but I thought these were worthy of special notice in addition to their progress on enterprise GRC.
The branding of compliance: Organizations are now carefully communicating the company’s position on ethics and compliance from the top down. What is distributed from the compliance office is taken very seriously – can anyone say “respect?”
Principals-based compliance: There is a growing trend in legislation both locally and abroad towards desired performance or outcomes as opposed to more specific check-lists of legal requirements. As a result, coordination of efforts and practices across the enterprise is gaining even more momentum.
Business relationship risks: Many companies have thousands of vendors and business partners, and thus, inherit many risks affecting those entities. Companies should be more proactive in identifying, tracking and managing the risks posed from these relationships – ongoing.
In the coming weeks, I will be addressing each of these issues in more detail. Feel free to suggest additional challenges, concerns or topics that you believe will soon become influential issues in the GRC.
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