GRC- GOVERNANCE, RISK MANAGEMENT & COMPLIANCE

1. GRC- GOVERNANCE, RISK MANAGEMENT & COMPLIANCE HR GLOBE CONSULTINGwww.hrglobeconsulting.com

2. INTRODUCTION • GRC : an integrated approach , aligned to - Avoid gaps. - wasteful overlaps. - Conflicts in organizations. • Widely adopted and required in organizations today. • Cases where in it is not followed leads to – E.g.- Satyam Computers Fiasco!

4. RISK MANAGEMENT • Works upon analyzing the risks which can impact organizations to reach its objectives. • Risks can come from • uncertain financial markets. • Project failures. • Natural causes and disasters. • Legal liabilities. • Credit risk.

5. PRINCIPLES OF RISK MANAGEMENT

6. Overall management approach used by senior executives to control & direct organization. • Focus lies on appropriate management decision making. • To ensure strategies , directions & instructions are followed systematically.

7. Need of corporate governance • Good Corporate Governance plays a vital role in integrity • & efficiency of financial markets. • If poor, it weakens company’s potential & opens doors to • frauds. • Better Governance , helps in out performing. • Helps in creating an edge over competitors.

8. CORPORATE COMPLIANCE • Rotates around confirming stated rules. • Interest in this was sparked by SOX i.e Sarbanes Oxley act. • It is responsibility of employers and employees equally. • Open line of communication between compliance officer & employees is critical to successful operations.

9. WHAT IF NO GRC??

10. CONCLUSION The effective Corporate governance, risk management and corporate compliance – • Attracts investments. • Helps keeping the companies directed & controlled. • Ensures accountable, transparent & fair relationship in the organization. • Improves operational performance. • Gives better access to capital. • It gives higher firm valuation. • It improves sustainability.

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