Governance, Risk and Compliance (GRC)

Governance, Risk and Compliance (GRC)

Course Description

Introduction

Welcome to the Governance, Risk and Compliance (GRC) training course developed by Cambridge for Global Training. This course is designed to provide participants with a comprehensive understanding of the interconnected disciplines of governance, risk management, and compliance within organizations. Through practical examples and case studies, participants will learn how to effectively manage GRC processes to achieve business objectives while ensuring legal and regulatory compliance.

Course Objectives

By the end of the course, participants will be able to:

• Establish effective governance structures to promote transparency and accountability within organizations.
• Identify, assess, and mitigate risks across various business functions and processes.
• Develop and implement compliance programs to adhere to applicable laws, regulations, and standards.
• Integrate GRC practices to enhance decision-making and strategic planning.
• Foster a culture of risk awareness and ethical conduct within the organization.
• Enhance communication and collaboration among stakeholders involved in GRC activities.
• Stay updated on emerging trends and best practices in the field of GRC.

Who Should Attend

• Executives, directors, and managers responsible for governance, risk management, or compliance within their organizations.
• Risk and compliance professionals seeking to broaden their knowledge and skills in GRC.
• Internal auditors and assurance professionals involved in evaluating GRC processes.
• Legal and regulatory professionals responsible for ensuring compliance with applicable laws and regulations.
• Business analysts and consultants interested in GRC frameworks and practices.

Course Outline

Unit 1: Introduction to GRC Frameworks

• Understanding the concept of governance, risk, and compliance (GRC)
• Overview of GRC frameworks and models
• The role of GRC in achieving organizational objectives
• Key principles and components of effective GRC frameworks
• Case studies on successful GRC implementations

Unit 2: Governance Principles and Practices

• The importance of governance in organizational success
• Board structures, roles, and responsibilities
• Corporate governance best practices and standards (e.g., UK Corporate Governance Code)
• Stakeholder engagement and accountability mechanisms
• Evaluating governance effectiveness and performance metrics

Unit 3: Risk Management Strategies

• Introduction to enterprise risk management (ERM)
• Identifying and assessing risks across the organization
• Risk appetite, tolerance, and mitigation strategies
• Implementing risk management frameworks (e.g., COSO ERM)
• Monitoring and reporting on key risk indicators (KRIs)

Unit 4: Compliance Management

• Understanding regulatory requirements and industry standards
• Designing and implementing compliance programs
• Conducting compliance risk assessments and gap analyses
• Monitoring and enforcing compliance with policies and regulations
• Responding to compliance breaches and enforcement actions

Unit 5: Integrating GRC Practices

• Aligning GRC objectives with business strategies
• Building a risk-aware culture and promoting ethical conduct
• Leveraging technology for GRC automation and reporting
• Establishing effective communication and collaboration among GRC stakeholders
• Continuous improvement and adaptation to changing regulatory landscapes