How do the three lines of defence break down silos and work together to deliver maximum value to the business?
On June 9 ACL invited audit, risk and compliance professionals to join together in a one day event in New York City to share their experience and expertise around this very question. We called it GRC LeaderCon.
At the event we heard from industry thought leaders, such as John Wheeler from Gartner and the conversation around the risk of avoiding risk, and from your peers about challenges, insights and visions for each line of defence. Attendees walked away with tons of ideas about how to make their departments more sought-after, but also with a new appreciation for cross-department collaboration opportunities—what a jam-packed day!
Now that you’re back to the grind, or if you couldn’t make it to the event, we’ve distilled learnings from the GRC LeaderCon conference for you to ponder and share with your colleagues.
Here are the top 4 takeaways:
- Takeaway 1: What separates successful companies from the unsuccessful is the ability to take the right risks. Success means flipping the conversation from “high vs low risk” to “good vs bad risk”.
- Takeaway 2: Big data can be a headache if you don’t have the right tools and processes in place, but if you do—it becomes the fuel to an effective and mature Audit, Risk and Compliance solution.
- Takeaway 3: Making sure you align with your organization’s vision and strategy, and effectively collaborating across the business is one of the most important aspects of an effective solution. Technology is necessary to analyze the vast amounts of data flowing through your organization so you can better detect risk and assure effective governance.
- Takeaway 4: Audit and GRC professionals have an opportunity to be an integral success to the business. How are you planning to make a difference in your organization?
If you were at LeaderCon and want to share your takeaways, use the hashtag #GRCLeaderCon!