Broker Check

Governance, Risk and Compliance Trends

July 14, 2021

Although governance, risk and compliance may seem more of an issue for major corporations, even small companies need to be aware of them. Gaurav Kapoor, COO of MetricStream and member of the Forbes Technology Council, lists five trends in a Forbes article:

  1. The velocity of risk is accelerating and decisions must be made in real time rather than left for periodic assessments.
  2. Pay attention to peripheral risks especially from third parties. Use artificial intelligence and machine learning to sort through and analyze data.
  3. Empower frontline workers to update data and communicate emerging risks.
  4. Agile risk management speeds project completion by breaking down projects into smaller steps and breaks down silos within an organization.
  5. Quantitative analysis translates risk into dollars so executives can prioritize investments.