A Government Department Fortifies GRC Culture by Integrating IT Risk and Compliance Management

Taking Stock

Before embarking on their GRC journey, the organization first approached the Open Compliance & Ethics Group (OCEG) to build a deeper understanding of the GRC space.

They also identified the GRC resources that were already available in their enterprise, including a dedicated risk management function with defined roles and responsibilities, as well as a security and governance framework.

The problem was that these groups and programs operated in siloes which weren’t conducive to a cohesive GRC culture. What the organization needed was a system or solution that would bring together all relevant stakeholders, frameworks, and processes into a common GRC journey. After evaluating various GRC solutions in the market, the organization chose MetricStream for IT and Cyber risk and IT and Cyber compliance management. With these tools, business, IT, and security teams were gradually able to gain a common view of risks across the enterprise.

Improved IT and Cyber Risk Management Maturity

Today, MetricStream’s product for IT and Cyber risk management has helped the organization streamline the identification, analysis, and mitigation of IT and Cyber risks. The product cuts across enterprise silos, integrating IT and Cyber risk data in a common system for comprehensive risk visibility across the three lines of defense.

The product also simplifies the complete IT and Cyber risk management lifecycle, comprising risk documentation, assessments, and control management, as well as issue detection and resolution.

This systematic and holistic approach has enabled the organization to treat IT and Cyber risks as business risks that have a direct impact on performance and strategy. Additionally, advanced analytics and dashboards help stakeholders transform raw risk data into actionable business intelligence for quicker and better decision-making