Having a GRC Mindset

There is a plethora of GRC software in the market. Seems that everyday we get inundated with the newest, the best, the most “intuitive” and a host of other designations.  The truth is that there is good software available and we should all take a moment to assure ourselves that the software we have chosen meets our needs.  To some, even members of the Board of Directors, it appears that software is the “answer” to all risk questions?  That seems a bit onerous for a software program so if not just software, what else is needed?

First of all, software is a plus and it is a requirement driven by the pace of events, information availability and managements incessant need to know. But one could argue that there is more to GRC mastery than simply software. It is what we call the GRC MINDSET.

So what exactly is the “GRC MINDSET?”

The “mindset” is how risk managers develop their own personal mental approach to risk management.  Regardless of the industry or market sector where one resides, risk management continues to be a global attribute of good management. Because of that, and in addition to software, the GRC Mindset can be a difference maker.  We define the GRC Mindset as the ability to:

• Visualize an integrated risk profile.  No longer relying on just a formulaic risk assessment, but including motivation, management, process and organization lifecycle, in the visualization and implementation of risk management processes.
• Capture the impact of one risk on many processes and many risks on one process. Stepping away from the tendency to segment all risks (a great analytic tool) from each other and see them in their real integrated form (another great analytic tool).
• Sense the probability of impact from risk events on the organization and developing and early warning system that is enhanced by monitoring and individual, as well as integrated, triggers.
• Know that the response to emerging risk is the key to managing it. Human beings are not good at predicting that which may occur so the focus on rapid response can actually save an organization.
• Demonstrate the character to not waste time on that which does not affect us but also show the humility to know what does.

Once we meld the GRC Mindset with the software solution we select to help us administer our management style we can become extremely valuable to our organizations and support their growth, profitability and long term success.  Without the GRC MINDSET, we relegate ourselves to just being another report driven, software supported line item on an organization chart.  We should strive to be more. Yes, we can do it!