Day 4/ Power Breakfast

Emerging trends in unifying Governance Risk and Compliance

The Express Group organized a roundtable for Wipro to discuss Governance Risk and Compliance which is becoming a hot topic amongst organizations

Manohar Ganshani, practice partner, Wipro Consulting Service having a chat with the CIOs on Emerging Trends in Unifying Governance Risk and Compliance

The discussion which was initiated by Indian Express editorial about how seriously the organization took this subject and if the CISOs played a role in influencing their management about GRC. Wipro Consulting Service took up the lead to give certain insights into this subject, with CIOs making it an interesting interactive session.

Giving a 360 degree overview of GRC, Manohar Ganshani, practice partner, Wipro Consulting Service maintained that GRC as a policy is followed in three areas which included IT -GRC, ERM (enterprise risk management) GRC and in financial matters.

This is possible, he said, using processes and tools required to demonstrate in a clear, concise and integrated fashion, compliance with the various authoritative sources to which companies are bound to comply.

To a question from Burgess Cooper, GM-IT security of Vodafone as how GRC could be measured, Ganshani maintained that GRC centre of excellence could lead to reduction and effective management of risk, increases assurance reliability, increased information quality, decrease operational cost by reducing complexity etc.

The challenges that the CISOs gathered at the round table found was that each department in the organization had their own risks and compliance issues. The challenge was also about CISO or CIOs playing the board room role to influence the top management in evolving a matrix on GRC.

Ganshani suggested that a single window of capturing information and building the right frame work to take the risk management is critical for any organization where only the CIO played a major role. Some of the frameworks he recommended were to have integrated GRC, ITRO outsourcing, threat and vulnerability modeling, unified compliance, maturity assessment advisory services, operational risk, IT GRC automation and so on.

— N Geetha