Challenge: Aggressive Board Mandate Triggers Lofty Company Goal
Companies are often cautioned against rolling out new large-scale programs all at the same time. Pushback from the status quo, steep learning curves, and lack of adoption have killed many programs with grand visions.
When an Alaska-based telecom was given a mandate by its board to create a broad-reaching governance, risk and compliance (GRC) program managing everything from audit and compliance to third-party risk and business continuity – success was not assured.
The telecom provider faced a number of challenges, including a staffing shortage, customer demands, a dynamic regulatory environment and the off-the-grid nature of Alaska. They relied on spreadsheets, email and tribal knowledge for a patchwork compliance program, and lacked a comprehensive view of real risk areas. To make it even more challenging, the Board requested the new GRC program to be up and running in 18 months.
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NAVEX’s GRC software and compliance management solutions support the integrated risk, ESG and compliance management programs at more than 13,000 organizations worldwide.