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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About NAVEX Global, Inc.
NAVEX Global is the worldwide leader in integrated risk and compliance management software and services. Our solutions help organizations manage risk, address complex regulatory requirements and foster an ethical, productive workplace culture.