Due to the increase in legislation and regulations, the importance of well-designed GRC becomes more important. In practice, this means that the business processes have been mapped, the related risks have been defined and the necessary measures have to be implemented. By tackling this as a whole, GRC can be implemented efficiently and effectively.
Traxion has developed its own method for introducing GRC. We call this the Traxion in Control Method (TiCM). The basis of this method is the well-known Plan-Do-Check-Act cycle. After adjusting the required measures, the PDCA cycle ensures continuous insight into the risks. Depending on your organisation, an approach is chosen based on processes or resources. The choice is determined in consultation with you, depending on where the quickest return can be achieved.
The basis for GRC is legislation and regulations that are relevant to your organisation and processes. In addition, the existing internal policy is used for the design of GRC. This is structured through a suitable framework such as COBIT or ISO27000. A clear framework identifies the most important risks that must be managed. Doing business means taking risks, by focusing on the most important risks, the organisation can effectively decide on the use of company resources.
An organisation wants to comply with a large number of standards frameworks and legislation. The complexity is only increasing and will certainly not decrease. It is therefore possible to use GRC tooling. With a GRC tool, a clear overview can be obtained of the total of the risks and the link with one or more frameworks. The treatment of the risks can be assigned to and monitored by people in the organisation. Our TiCM GRC methodology can also be used to implement a tool.
With TiCM, GRC does not only consist of hard elements such as policy, description of processes and responsibilities. Our method goes further and seeks a direct relationship with the culture, norms and values of your organization. All these aspects receive the right attention to make Governance, Risk and Compliance an important part of your entire organization. Our experienced consultants can help you with this.Feel free to contact us
Koen Ayels - Head of ICT I Aquafin
Traxion scores very high on know-how, approach, quickness of response and thinking along.