Risk and compliance professionals know the scope of their responsibility is growing. Regulatory requirements, operational disruptions, risks from third parties, and cyberthreats are just a few areas that are becoming more complex, expensive, and damaging to a company’s reputation. An integrated risk and compliance program can help companies navigate risk and chart a path forward in a disrupted business environment, and even serve as a competitive advantage. But risk and compliance professionals face a lot of challenges: It’s hard to collect data and report on metrics that are important to the board or c-suite. Collecting the right information takes time. It’s hard to track changes in regulations.
And yet, you want to build a progressive, risk-based program that fits your value-based system.