GRC in BFS Industry

A beginner’s guide on Governance, Risk Management and Compliance by Banking & Finance Industry

By: Dr. Ramamurthy NATARAJAN

Narrated by: Virtual Voice

GRC – Governance, Risk and Compliance — is an umbrella term for the processes and practices that organizations implement to meet business objectives. This is a relatively a new jargon, probably a decade+ old. However, GRC management has come a long way from binders full of documentation, unwieldy spreadsheets, and other manual processes. Rather than just a catchall term for unconnected management activities, truly integrated GRC — sometimes referred to as integrated risk management — takes a holistic, enterprise-wide approach to understanding risks and opportunities to better support organizational strategy. The author has experience in Banking risk management, compliance, etc., both practical and offering related IT solutions. This is a guide book for beginners. Lots of fundamental concepts are dealt with in simple terms. It has been mentioned as “if you do not update yourself, you will be outdated”. There cannot be a generic GRC solution across industry. Hence this book can be used as a base or fundamental. Depending on the industry or organization, the reader is into, he has to improve it further.