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Volume 32, Issue 1

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Thursday, 06 December 2018 15:06

Integrated Risk Management: The Intersection Of GRC And RMIS

3 Arguments for Integrating RMIS and GRC Processes

Gartner suggests that integrated risk management (IRM) is the next evolution of risk management practices. This piece from Riskonnect’s Dawn Ward explores IRM practices and what they mean specifically for GRC and enterprise risk.

As risk controls and appetites evolve, managers continue to work toward improving their risk management programs. They’re becoming more informed about governance, risk and compliance (GRC) processes and how these can be leveraged with risk management information systems (RMIS) to better identify and mitigate risks. However, some managers still experience a disconnect.

For many, this disconnect stems from a lack of understanding the long-term benefits. Merging GRC processes with RMIS brings numerous advantages to enterprise operations, but many leadership teams fail to grasp the enterprise-wide changes they bring, opting instead to leave these as independent processes. So why should management teams look to merge GRC and RMIS processes?

Here are three reasons why you should consider integrating these risk areas to elevate your risk management operations.