Compliance and Risk Management for the Public Sector
Imagine you work for a federal agency that was hacked, resulting in thousands of compromised Social Security numbers. Or perhaps you work for a city whose water supply is unsafe to drink for an extended period. Maybe your county government department missed a compliance deadline for a federal mandate, which the local press is now criticizing you for.
During the aftermath of a crisis, the emphasis is on minimizing the damage and restoring public trust. Once the dust settles, risk management thinking usually takes over. The question then becomes: Can we prevent this from happening again?
Effective risk management and compliance management require information that is complete, readily accessible, and usable, to enable quick decision-making instead of impeding it. Unfortunately, information in most organizations is maintained in disparate systems and/or spreadsheets, and managed by a variety of sources (e.g., departments). As a result, it often is outdated, hidden in nondescript network folders, and/ or missing key data fields.
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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.