GRC systems: Russian reality
Posted: Thu Feb 13, 2025 4:14 am
Vladimir Ermolaev, Head of Risk Management Systems Department, Informzashchita | 08.08.2017
The relationship between Western theory and Russian practice of GRC implementation
GRC technology reached the Russian market late, and despite the growing interest, the GRC topic is not yet popular enough in our country. This class of products is still new and not fully studied. Many are already familiar with the abbreviation GRC, but not all IT managers have a clear understanding of its definition, not to mention knowledge of key players and developers of solutions for this area.
The development of the GRC direction in the West is primarily due to legislative requirements, in particular, requirements for the preparation of financial statements (SOX), for bank capital (Basel II), for the storage of citizens’ medical data (HIPAA).
At the same time, Western organizations have adopted a senegal whatsapp data risk management approach in order to control the operation of processes and the ability to promptly select an appropriate strategy for responding to negative risks.
When talking about current GRC development trends in the West, the following can be identified as key areas of interest to businesses:
1. Cyber vulnerability. While IT departments play a leading role in companies in combating threats related to hacking and other information technology issues, risk management and compliance departments play an equally important role. They help identify relevant cyber threats, detect incidents, and formulate effective IT and information security policies.
The relationship between Western theory and Russian practice of GRC implementation
GRC technology reached the Russian market late, and despite the growing interest, the GRC topic is not yet popular enough in our country. This class of products is still new and not fully studied. Many are already familiar with the abbreviation GRC, but not all IT managers have a clear understanding of its definition, not to mention knowledge of key players and developers of solutions for this area.
The development of the GRC direction in the West is primarily due to legislative requirements, in particular, requirements for the preparation of financial statements (SOX), for bank capital (Basel II), for the storage of citizens’ medical data (HIPAA).
At the same time, Western organizations have adopted a senegal whatsapp data risk management approach in order to control the operation of processes and the ability to promptly select an appropriate strategy for responding to negative risks.
When talking about current GRC development trends in the West, the following can be identified as key areas of interest to businesses:
1. Cyber vulnerability. While IT departments play a leading role in companies in combating threats related to hacking and other information technology issues, risk management and compliance departments play an equally important role. They help identify relevant cyber threats, detect incidents, and formulate effective IT and information security policies.