The main reason why the combined efforts to introduce
all of the components of Governance, risk and compliance (GRC) never took
off in the corporate world is that it was difficult to measure the ROI of
The question is whether the many different requirements
and regulations, reduces the risk of a new crisis in the future. History
shows that this is not the case when crises come and go regularly, regardless
of the number of new or more GRC regulation.
Risk Management, Compliance and IT Security Issues
GRC officers that are accountable for key GRC policies
at various levels in the organization have to be sufficiently empowered
to put the brakes on the firm's risk taking, but they also play a critical
role in enabling the firm to conduct well-measured, profitable risk-taking
activities that support the firm's long-term sustainable success.
Every company does GRC and has some method to governance,
risk management, compliance and IT security issues. The question is how
structured and reliable is the company's strategy. We suggest the Copenhagen
Compliance® GRC roadmap and framework to organize your GRC journey.
Avoid these mistakes when procuring IT services from
external Service Providers. Learn more at the Copenhagen Compliance Conference
on the 23-24th September 2013.
Professor Steen Thomsen of The Copenhagen Business
School said, "We should all be fired!" But that did not happen. Corporate
and financial leaders' heads did not roll. Profits were not returned to
helpless investors who lost out. But, fair warning: the new compliance requirements
include transparency and accountability!
The international gray eminences of GRC often manage
the GRC problem simply by muddling through the GRC issues, instead of implementing
a long term sustainable approach, based on necessary considerations of prudence,
Copenhagen Compliance can step in and protect the client early on and help
to identify the issues and provide a firmer GRC ground.
Do you have an approach or methodology for restoring
your global corporate reputation id there is an offence that is committed
internally? It seems that most of the GRC offenses intentionally violate
established regulations and legal statutes - or just common-sense definitions
of what is acceptable, appropriate and ethical should be back on the drawing
Often directors and managers tend to go for denial
and they ended up with wheel barrows of varied number of compliance processes,
duplication of efforts and controls and manual tests that confuse even the
most basic regulatory control, that can only lead to a greater compliance
breakdown… it is like taking more and more of the same medicine to cure
the initial problem.
Some of the preliminary conclusions based on the workshops
that we have held. The workshops are divided in three sections. The first
part is introductions on EU regulatory Compliance components and performance
of the 5 dilemma's we have prepared based on earlier meetings. We then prioritise
the dilemma and later in a breakout sessions the participants respond to
some of the primary concerns and issues in 1 or 2 of the compliance dilemma.
Later we offer and discussed the solutions on their views, findings and
Servives Regulatory Compliance Issues. EU Banking Union
The new rules have already lead to geographical retrenchment,
deleveraging and a refocusing of the businesses models of many financial
institutions. At the Copenhagen Compliance Conference in September, we will
have a parallel session on the various financial services Regulatory Compliance
issues and try to shed light on The EU Banking Union by discussing the regulatory
financial landscape and how it will look like in a post-Basel III EU banking
Is it the rotten tone at the top, facilitated by blindness
of middle management and the check-the-box support given by the bottom the
reason why the financial institutions have behaved badly? Or is the reason
as simple as that there is enough free money to play with that makes them
act so arrogantly?
EU Commission has issued its consultation on the review
of the European System of Financial Supervision, Policy Field, Internal
Market, Financial Services