Risk Management

What is Governance in GRC? What’s It Involved?

Good governance is important for the smooth and effective functioning of the organization. It is a broader concept; and includes oversight and practices to establish an organization’s strategic direction and achieve its purpose and make the best use of available resources.
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What Is a Risk Management Plan? Definition, Components, and How to Write One

Every organization faces certain types of risks in business. Any factor that threatens an organization's ability to achieve its goal is considered a business risk. The major categories of risks to consider are: strategic risks, compliance risks, financial risks, and operational risks. Another important way to categorize risk is based on the source of the risk and see whether they are internal or external risks.
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What Is Compliance Risk? Definition, Examples, Frameworks, and Compliance Risk Management Explained

Compliance risks are defined as the risks that result from violations of laws, regulations, codes of conduct, or organizational standards of practice. Compliance risk management is a part of compliance management and it helps identify, assess, and monitor and manage risks that might cause because of non-compliance. Compliance requirements differ from sectors to sectors. The government and regulatory agencies specify rules and regulations based on which companies in a particular sector should do business. For example, banks and financial institutions face the most complicated regulatory environment.
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