Governance Risk & Compliance

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This course will provide participants with an understanding of all the globally accepted GRC frameworks and how they can be applied to drive higher levels of business performance and improve short, medium and long-term business sustainability. Governance, Risk Management, and Compliance (GRC) are three main pillars that help assure an organization reliably achieves objectives, addresses uncertainty and acts with integrity. These frameworks ensure Confidentiality, integrity, and availability of information is maintained while operating more efficiently, enabling effective information sharing, predicting and managing risks that could hinder the organization from reliably achieving its objectives under uncertainty, reporting activities and avoiding wasteful overlaps while adhering with the mandated boundaries-laws and regulations, and voluntary boundaries-company’s policies, procedures, etc.

Who should attend this training?

This course opens career avenues in the areas of consulting for ISO 27001, PCI DSS, HIPAA, and various other cybersecurity compliance requirements. Professionals from a largely technical background will also immensely benefit from gaining exposure to the governance, risk management and compliance aspects of cybersecurity.

Module 1: Cyber Security Fundamentals

Module 2: Network Security

Module 3: Operating System Security and Database Security

Operating System Security
Database Security

Module 4: Web Application Security

Module 5: Risk Management and Governance

Module 7: General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act (HIPAA) | Health Insurance Portability and Accountability Act (HIPAA)

Module 8: Payment Card Industry Data Security Standard (PCI DSS)

Module 9: Business Continuity Management (BCM)

Module 10: Information Technology Infrastructure library (ITIL), IT Act & Sarbanes Oxley Act | IT Act & Sarbanes Oxley Act

Module 11: Cloud Security Audit & Exercises

Why is GRC important?

By implementing GRC programs, businesses can make better decisions in a risk-aware environment. An effective GRC program helps key stakeholders set policies from a shared perspective and comply with regulatory requirements. With GRC, the entire company comes together in its policies, decisions, and actions.

The following are some benefits of implementing a GRC strategy at your organization.

Data-driven decision-making

You can make data-driven decisions within a shorter time frame by monitoring your resources, setting up rules or frameworks, and using GRC software and tools.

Responsible operations

GRC streamlines operations around a common culture that promotes ethical values and creates a healthy environment for growth. It guides strong organizational culture development and ethical decision-making in the organization.

Improved cybersecurity

With an integrated GRC approach, businesses can employ data security measures to protect customer data and private information. Implementing a GRC strategy is essential for your organization due to increasing cyber risk that threatens users’ data and privacy. It helps organizations comply with data privacy regulations like the General Data Protection Regulation (GDPR). With a GRC IT strategy, you build customer trust and protect your business from penalties.

What drives GRC implementation?

Companies of all sizes face challenges that can endanger revenue, reputation, and customer and stakeholder interest. Some of these challenges include the following:

Internet connectivity introducing cyber risks that might compromise data storage security
Businesses needing to comply with new or updated regulatory requirements
Companies needing data privacy and protection
Companies facing more uncertainties in the modern business landscape
Risk management costs increasing at an unprecedented rate
Complex third-party business relationships increasing risk

These challenges create demand for a strategy to navigate businesses toward their goals. Conventional third-party risk management and regulatory compliance methods are not enough. Hence, GRC was introduced as a unified approach to help stakeholders make accurate decisions.

How does GRC work?

GRC in any organization works on the following principles:

Key stakeholders

GRC requires cross-functional collaboration across different departments that practices governance, risk management, and regulatory compliance. Some examples include the following:

Senior executives who assess risks when making strategic decisions
Legal teams who help businesses mitigate legal exposures
Finance managers who support compliance with regulatory requirements
HR executives who deal with confidential recruitment information
IT departments that protect data from cyber threats

GRC framework

A GRC framework is a model for managing governance and compliance risk in a company. It involves identifying the key policies that can drive the company toward its goals. By adopting a GRC framework, you can take a proactive approach to mitigating risks, making well-informed decisions, and ensuring business continuity.

Companies implement GRC by adopting GRC frameworks that contain key policies that align with the organization’s strategic objectives. Key stakeholders base their work on a shared understanding from the GRC framework as they devise policies, structure workflows, and govern the company. Companies might use software and tools to coordinate and monitor the success of the GRC framework.

GRC maturity

GRC maturity is the level of integration of governance, risk assessment, and compliance within an organization. You achieve a high level of GRC maturity when a well-planned GRC strategy results in cost efficiency, productivity, and effectiveness in risk mitigation. Meanwhile, a low level of GRC maturity is unproductive and keeps business units working in silos.