Copenhagen Compliance 2013
The main reason why the combined efforts to introduce all of the components of Governance, risk and compliance (GRC) never took off in the corporate world is that it was difficult to measure the ROI of GRC activities.
The question is whether the many different requirements and regulations, reduces the risk of a new crisis in the future. History shows that this is not the case when crises come and go regularly, regardless of the number of new or more GRC regulation.
Governance, Risk Management, Compliance and IT Security Issues
GRC officers that are accountable for key GRC policies at various levels in the organization have to be sufficiently empowered to put the brakes on the firm's risk taking, but they also play a critical role in enabling the firm to conduct well-measured, profitable risk-taking activities that support the firm's long-term sustainable success.
Every company does GRC and has some method to governance, risk management, compliance and IT security issues. The question is how structured and reliable is the company's strategy. We suggest the Copenhagen Compliance® GRC roadmap and framework to organize your GRC journey.
Avoid these mistakes when procuring IT services from external Service Providers. Learn more at the Copenhagen Compliance Conference on the 23-24th September 2013.
Professor Steen Thomsen of The Copenhagen Business School said, "We should all be fired!" But that did not happen. Corporate and financial leaders' heads did not roll. Profits were not returned to helpless investors who lost out. But, fair warning: the new compliance requirements include transparency and accountability!
The international gray eminences of GRC often manage the GRC problem simply by muddling through the GRC issues, instead of implementing a long term sustainable approach, based on necessary considerations of prudence, Copenhagen Compliance can step in and protect the client early on and help to identify the issues and provide a firmer GRC ground.
Do you have an approach or methodology for restoring your global corporate reputation id there is an offence that is committed internally? It seems that most of the GRC offenses intentionally violate established regulations and legal statutes - or just common-sense definitions of what is acceptable, appropriate and ethical should be back on the drawing board.
Often directors and managers tend to go for denial and they ended up with wheel barrows of varied number of compliance processes, duplication of efforts and controls and manual tests that confuse even the most basic regulatory control, that can only lead to a greater compliance breakdown… it is like taking more and more of the same medicine to cure the initial problem.
Some of the preliminary conclusions based on the workshops that we have held. The workshops are divided in three sections. The first part is introductions on EU regulatory Compliance components and performance of the 5 dilemma's we have prepared based on earlier meetings. We then prioritise the dilemma and later in a breakout sessions the participants respond to some of the primary concerns and issues in 1 or 2 of the compliance dilemma. Later we offer and discussed the solutions on their views, findings and red signals.
Financial Servives Regulatory Compliance Issues. EU Banking Union
The new rules have already lead to geographical retrenchment, deleveraging and a refocusing of the businesses models of many financial institutions. At the Copenhagen Compliance Conference in September, we will have a parallel session on the various financial services Regulatory Compliance issues and try to shed light on The EU Banking Union by discussing the regulatory financial landscape and how it will look like in a post-Basel III EU banking Union territory.
Is it the rotten tone at the top, facilitated by blindness of middle management and the check-the-box support given by the bottom the reason why the financial institutions have behaved badly? Or is the reason as simple as that there is enough free money to play with that makes them act so arrogantly?
EU Commission has issued its consultation on the review of the European System of Financial Supervision, Policy Field, Internal Market, Financial Services