The organization maintains a structured GRC framework with defined governance, continuous risk management, and disciplined compliance testing.
Governance (the structure)
-Roles & ownership: board/executives, risk/compliance officers, process owners, internal audit.
-Policies & standards: set clear rules for security, privacy, regulatory requirements, ethics, etc.
-Decision rights: who approves exceptions, risk acceptance, vendor waivers, control changes.
-Risk appetite & tolerance: what “acceptable risk” means in measurable terms.
-Committees & cadence: set recurring meetings (risk committee quarterly, control reviews monthly).
Risk Management (how diligence shows up)
-Risk identification: threat modeling, compliance gap analysis, operational risk mapping.
-Risk assessment: likelihood/impact, control effectiveness, residual risk tracking.
-Risk treatment plans: mitigation, transfer, avoidance, or acceptance—with documented rationale.
-Monitoring & reporting: KRIs/KPIs, risk dashboards, trend analysis, escalation paths.
-Incident & change response: Understand how risks are reassessed after incidents and major changes.
Compliance (evidence and control execution)
-Regulatory mapping: which laws/standards apply to which processes and systems.
-Control framework: control catalog aligned to frameworks
-Testing & assurance: regular control testing, evidence collection, remediation tracking.
-Training & awareness: required staff training, phishing/social engineering exercises, sign-offs.
-Audit readiness: continuous evidence, remediation closure, lessons learned.
The organization maintains a structured GRC framework with defined governance, continuous risk management, and disciplined compliance testing—ensuring requirements are translated into controls and validated with evidence and remediation.
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