The solution has become a part of the problem

Bottom-line - Organizations keep asking themselves: What is my GRC ROI? 

 
Integrated GRC - Convergence between governance, risk and compliance

Adopting an integrated approach for managing their governance, risk and compliance activities has become a top priority for those organizations who have witnessed time and revenue leakage in pursuing independent GRC initiatives. However most of these same organizations end up interpreting Integrated GRC in a wrong way and thus they fail to achieve expected benefits out of it. Integrated governance, risk and compliance is not a single, monolithic GRC structure with a single, one-way bottom-up reporting line. Rather, it is a mutual, two-way approach towards eradicating duplicated effort, complexity and cost and about greater communication, collaboration, and cooperation.

An integrated GRC brings together the focus on complex and disparate risk and compliance activities and directs organizational efforts more efficiently, in alignment with organizational strategy and culture. Also a more comprehensive view of risk management and regulatory compliance simplifies business processes and systems and improves control over them.

Integrated GRC offers several benefits to the organizations pursuing them, most notable ones are:

 
•Identifying and managing risks more quickly
•Reduced costs through reduction in duplication and identification of synergies
•Greater collaboration among stakeholders both external and internal
•Greater focus on key business processes and activities
•Identifying and responding to opportunities/ threats more quickly
•Improved control and assurance environment
•Improved financial and non-financial reporting
•Supporting business units more effectively

More to be continued in our next blog... 

The most common mistakes that organizations are prone to make is that they assume that their users are aware of the security policies that have been implemented. Signing up of an awareness form at time of taking up of employment does not ensure that the user will become aware of the security measures nor can the organization wash its hands of the user awareness training responsibilities. Not only do users need to follow the policies they also need to understand why these are being implemented. This ensures that users adhere better to the established guidelines. Surveys conducted by CSI/FBI Computer Crime and Security survey have revealed a drop in threats and attacks to networks and this decline has been directly associated to increased user awareness. Although the list would be lengthy it would be worth looking at some key aspects of information security from a user’s perspective.

Anti Virus – The havoc that can be caused by malicious software’s worms and virus have been well documented. Despite this user awareness on how they can prevent a virus from entering a network is limited. Users need to be made aware that antivirus software’s need to be updated with the at least definitions and are a necessary for their own data protection needs even if they do take up a bit of the computer resource. IT teams on the other hand should ensure that virus scans should take place when of least discomfort to the user community.

Passwords – Once any hacker has you’re the passwords they can almost hack into anything be it office or personal data. It is the first line of defense for a user to protect himself. Users need to understand the meaning of “weak” passwords. A weak password is something that can be easily associated to the user like birthdays, which can be easily even guessed. Strong passwords should consist of letters, alphabets, and even special characters. It should be something that the user can remember and at the time ensure that it cannot be cracked.

Acceptable usage policy – The acceptable usage policy should cover the user access over the intranet, internet as well as email usage. Users need to be aware of the vulnerabilities they expose the network to when they are browsing through sites they should not be visiting. Also exchanging emails when not needed and subscribing inadvertently to hoax sites not only may invite viruses into the network it also uses up network bandwidth which may result in data not being available when needed.

One of the components of IT security often underestimated is the need to increase awareness amongst users of the role they play in maintaining the security of the network. The result of a survey by the Computer Security Institute and the FBI Computer Intrusion Squad has indicated that user security awareness training can lead to a decrease in internally initiated attacks on the network. Users need to be aware of their role in protecting the information that they use and how they can contribute to protecting the network. There are a variety of means available to educate the users on security policies and each organization will have to find its own best fit. Organizations can give presentations, stick posters and hand outs, conduct induction as well as periodic training or maybe even have an internal website dedicated to information security. Each method is effective in its own way and using one is better than none.