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

This architecture is realised by leveraging various types of technology capabilities:• Discrete Solutions – Specific risk and compliance processes that have targeted softwaresolutions (e.g., anti-money-laundering, document management and education and learning).These solutions address specific risk and compliance requirements, but also need to beintegrated into the larger framework/architecture.• Optimised/Extended Use of Current Technology – The leveraging of existing in-house systems,extending the functionality of those systems and/or improving the data quality of theinformation in existing systems (e.g., leveraging the controls built into an ERP package).• “Out-of-the-Box” Risk and Compliance Solutions – A variety of solutions in the marketplacethat handle, with varying degrees of effectiveness, aspects of enterprise risk and compliance,and that provide process control, monitoring, learning and education and/or performancemeasurement capabilities.• Real-Time Risk and Compliance Environment – Leveraging of investments across discretesolutions and in-house applications utilised with real-time integration technologies toestablish a real-time GRC environment. Newer technologies and techniques, such asservice-oriented architectures, web services and XML, can be used to rapidly enable thesecapabilities across an enterprise.It is important to note that not every process will be enabled in real time (for example, lowerrisk or immaterial business processes could be addressed through risk control self-assessmenttechniques on a periodic basis). But the net effect of technology enablement on the overallenterprise will be to facilitate a responsive, integrated and efficient approach to GRC.35