A Governance, Risk, and Compliance (GRC) Team is a group of professionals within an organization responsible for ensuring the organization operates within legal, ethical, and strategic boundaries while managing risks and maintaining compliance.
This involves:
- Establishing and enforcing governance policies and practices
- Identifying, assessing, and mitigating risks
- Ensuring compliance with laws, regulations, and industry standards
The GRC team plays a vital role in safeguarding the organization against potential legal, financial, and reputational damages. By proactively identifying and addressing risks, they help foster a culture of accountability, transparency, and resilience across the organization.
The GRC team is crucial because it ensures that the organization aligns with regulations, reduces vulnerabilities, and supports strategic decision-making. This not only protects the organization but also strengthens stakeholder trust and enhances overall business stability and performance.
Setting Your Program up for Success from the Start
eBook
Promotional Allowance Program Regulations
In this guide, we explain what the regulations mean and how they impact your programs.
Download now, to learn how to create a program that your corporate legal team and finance department will love.