Integrity-Driven Performance. New Strategy for ... - GRC Resource

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• The organisation deploys process-driven learning related to GRC. A comprehensivecurriculum addresses enterprise-wide and specific business unit GRC requirements.In addition to technical training on GRC, learning includes ethical decision makinggrounded in core values and principles of business conduct. Other learning offerings spreadthe message of integrity, self-governance and compliance. Knowledge management andsupport systems provide on-the-job access to GRC best practices and guidance. The organisationtracks, reports and assesses the ethics, compliance training and performance of employees.• Integrity and GRC skills are valued as core competencies. There are clear expectations ofintegrity-based behaviour and compliance. Performance appraisals address integrity andcompliance competencies. Results attained without integrity and compliance are notvalued. Employees are openly recognised and rewarded for acts of integrity and compliance.Unacceptable behaviour is not tolerated and, when it occurs, is acted upon swiftly and clearly.• Leaders consistently communicate, demonstrate and reward the right way of doing businessin accordance with core values and GRC standards. Messages from leadership continuallypoint to the value of integrity, and its meaning in the business context. Values-baseddecision making guides employees when there are no rules, when the rules are vague orwhen acting in accordance with a policy would actually violate the spirit of responsiblebusiness conduct standards.Successfully Managing Culture ChangeManaging culture change for GRC initiatives is often overlooked or underestimated, but in factcan be the most significant challenge facing the organisation. Culture change requires integratinga variety of values, standards, regulations, laws, voluntary codes, industry codes and corporatepolicies, as well as a code of conduct. Organisations are often faced with concurrent people,policy, process and technology change in order to achieve their GRC goals.Successfully managing this change requires pragmatic change and programme management techniquesto help ensure that recommendations are actionable and that they drive sustainable benefits.Effective ethics, programme and change management techniques infuse GRC change into theday-to-day operations of an organisation. These help identify barriers and overcome resistance,contributing to a more rapid realisation of expected benefits. Figure III-2 depicts thePricewaterhouseCoopers ValueChange approach.20
Figure III-2: The ValueChange Approach – An Integrated Framework for Successfully Managing ChangeEnvision &Plan the ChangeDevelopLeadersBuildCommitmentManagethe ProgrammeDeliverBenefitsDesign Organisation& Align CultureBuildCapabilityIntegrating GRC into Core Business ProcessesInstilling a culture of business integrity is a critical foundation but, of itself, does not fulfil therequirements for managing GRC. “I trust my people” is not enough to meet an organisation’sfiduciary responsibilities, which are best met through a combination of trust, execution andverification. Therefore, if instilling a culture of business integrity creates an atmosphere of trust,integrating and executing GRC capability within core business processes – including theappropriate level of technology support – provides a necessary checkpoint for performanceand verification.Key GRC processes for integration include:• Governance processes• Enterprise risk management processes• Ethics and compliance processes21
Page 6 and 7: Governance Reforms: A Snapshot of R
Page 8 and 9: Through our research and client wor
Page 10 and 11: An integrated approach to GRC prope
Page 12 and 13: As shown in Figure II-2, a new visi
Page 14 and 15: In our view, a leading GRC capabili
Page 16 and 17: Integrating GRC into Core Business
Page 18 and 19: Interestingly, many of the technolo
Page 20 and 21: PricewaterhouseCoopers developed th
Page 24 and 25: Governance ProcessesIn order to exe
Page 26 and 27: Successful GRC Process IntegrationG
Page 28 and 29: GRC performance enables greater bus
Page 30 and 31: Cost ManagementThe term “Total Co
Page 32 and 33: Organisations face an abundance of
Page 34 and 35: The Emerging Role of Technology: En
Page 36 and 37: Interestingly, in many organisation
Page 38 and 39: IV. The Governance, Risk & Complian
Page 40 and 41: The GRC Operating Model is both sca
Page 42 and 43: Envision Performance Driven by Inte
Page 44 and 45: Improve and Measure SuccessDevelop,
Page 46 and 47: The GRC Operating Model promotes op
Page 48 and 49: Implementing a sustainable reportin
Page 50 and 51: Appendix: Governance, Risk and Comp
Page 52: www.pwc.com/governance© 2004 Price

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