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Governance, Risk and Compliance: the Business Challenge
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"Failure to properly identify and manage strategic risk is the most significant destroyer of economic value. Understanding and managing strategic risk in your business has to be the number one priority."
Ken Lever, formerly the finance director of FTSE-250 engineering group Tomkins plc
While corporate risk is one of the most critical issues in business today, it isn't always very well understood. Oracle, in association with the Financial Director, is holding a webinar to discuss the issues surrounding corporate risk and has invited a top line-up of panellists to shed light on this topic, including:
- Sir Paul Judge, chair, RSA Risk Commission
- Ken Lever, formerly FD of Tomkins plc
- Richard Raeburn, chief executive, Association of Corporate Treasurers
- Ian Smith, regional senior vice president, Oracle UK, Ireland and Israel
This webinar is now available on demand, view today by clicking here.
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High-publicity fraud indictments, erosion of trust in corporate management, and investor activism have contributed to a major shift in governance, risk and compliance (GRC) from being an optional approach to doing business, to being an absolute requirement. An effective GRC programme must ensure compliance with internal codes of ethics and external regulatory mandates, and not only extend across all areas of the organisation, but beyond the organisation itself - to govern relationships with suppliers, customers and partners.
Senior managers and executives worldwide need direction on how to confront the GRC challenge - not only in terms of implementation and its effects on day to day operations, but also on how to derive best value and proficiency from the investment required.
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Only Oracle delivers a comprehensive platform and solutions portfolio for outstanding Governance, Risk and Compliance Management (GRC). Oracle's holistic GRC approach comprises of three solution areas: IT Governance, GRC for Business, and Enterprise Risk Managment. They help safeguard your corporate brand and reputation, simplify the processes and procedures involved in protecting your intellectual assets and reduce the time and money involved in the implementation of an effective GRC programme.
Oracle has the ability to deliver true end-to-end GRC process capabilities to address both cross-industry needs and the very exacting requirements for industries, such as financial services or biopharmaceuticals. To reduce the time and burden for companies, Oracle delivers pre-configured best practice templates and compliance frameworks and all the integrated documentation, process automation and controls monitoring required to get your GRC programme up and running.
Our solutions for data protection and identity management shield your vital proprietary information - whether its electronic data or corporate records. A complete lifecycle management solution, plus a tailored segregation of duties plan, further ensures the security of your critical information assets - at all levels.
But beyond delivering the vital security and protection of information assets, Oracle understands the increasing pressures on companies to deliver ever better business performance - meaning real-time visibility of your GRC activities across the organisation, delivery of auditor ready reports and dashboards and real integration between your GRC programme and expected corporate performance.
Our solutions for effective GRC performance incorporate platform infrastructure, software applications, middleware products and Oracle Insight Consulting and address three key areas:
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IT Governance
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IT Governance addresses the needs of IT departments - in terms of best practices, policies, processes and controls - to support and enable the organisation's compliance obligations - and to do so efficiently and cost effectively. Oracle IT Governance incorporates operational disciplines for not only IT systems, but also IT personnel.
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GRC for Business
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GRC for Business has its focus on the areas of corporate governance, financial compliance, legal discovery and records retention. It allows companies to integrate risk and control intelligence with their strategic planning and deliver the ability to efficiently comply with a multitude of financial and civil regulations and procedures through a single solution approach.
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Enterprise Risk Management
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Enterprise Risk Management is concerned with minimising costs involved in developing and maintaining a GRC programme. It also focuses on avoiding or reducing the frequency of losses which can result from inadequate internal processes or the failure to comply with external regulations by an organisation's staff, its IT systems or even from the impact of an external event.
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