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The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 Michael Rasmussen, J.D., GRCP, CCEP The GRC Pundit @ GRC 20/20 Research, LLC OCEG Fellow @ www.OCEG.org

The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

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Page 1: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

The Technology Advantage Placing the Right Bets to Build the Program of the Future

April 2016 Michael Rasmussen, J.D., GRCP, CCEP The GRC Pundit @ GRC 20/20 Research, LLC OCEG Fellow @ www.OCEG.org

Page 2: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

2 © 2016, all rights reserved, www.GRC2020.com

Realize that everything connects to everything else. Leonardo da Vinci

Page 3: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

3 © 2016, all rights reserved, www.GRC2020.com

Regulatory Activity in Financial Services Tracked 2008-15

Page 4: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

4 © 2016, all rights reserved, www.GRC2020.com The Chaos of Compliance Interconnectedness

Page 5: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

5 © 2016, all rights reserved, www.GRC2020.com

Inevitability of Failure: Too Many Approaches

Page 6: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

6 © 2016, all rights reserved, www.GRC2020.com

Compliance Management by Design: Federated Compliance Management

Page 7: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

7 © 2016, all rights reserved, www.GRC2020.com

Compliance Management: a Top Down Approach

Compliance Management Strategy

Compliance Management Technology

Compliance Management Information

Compliance Management Process

Page 8: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

8 © 2016, all rights reserved, www.GRC2020.com

The GRC Market: Technology, Information,& Professional Services

Technology to enable and automate compliance processes

Compliance Technology

Intelligence & content for compliance processes, often embedded in technology

Compliance Intelligence & Content

Professional services firms to advise on aspects of compliance

Compliance Professional Services

Page 9: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

9 © 2016, all rights reserved, www.GRC2020.com

Compliance Information Architecture Provides 360° Contextual Intelligence

Strategic

Financial

Operational

Preventive

Corrective

Detective

Complaint

Investigation

Event

Strategic

Process

Department

Regulatory

Values

Contractual

Code of Conduct

Training & Awareness

Policies & Procedures

Owner

Employee

Subject Matter Expert

Controls

Risks

Issues

Roles

Objectives

Policies

Obligations

Organization Entity

Asset

Process

Central Hub of Compliance Information

Page 10: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

10 © 2016, all rights reserved, www.GRC2020.com

360° Compliance Contextual Analytics & Intelligence Capabilities

Integrated and mapped together to provide context

Analyzed to understand relationships

Action Items

Distributed & Disconnected Compliance Data Points

Page 11: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

11 © 2016, all rights reserved, www.GRC2020.com

Compliance Management by Design = Defensible Compliance Management

Compliance Technology Provides Automation and Tracking…

COLLABORATION AUDIT TRAIL ENFORCEMENT MANAGEMENT REPORTING WORKFLOW & TASKS

• Version (date/time • Ask and Resolve • Manage Expectations • Understand Context

• Provide Auditable Records • Demonstrate Sequence • Meet Requirements • Repeatable Cycle

Page 12: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

12 © 2016, all rights reserved, www.GRC2020.com

Compliance Engagement: Bringing it to the Coal-Face of the Organization

Page 13: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

13 © 2016, all rights reserved, www.GRC2020.com

Compliance management needs to provide a collaborative experience. Compliance engagement is accomplished through socialization and collaboration of compliance within the organization. This involves: • Getting questions answered

• Provide two-way communication

• Sharing information

• Connecting the dots through collaboration

Compliance Collaboration: Providing Collaboration Across the Organization

Page 14: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

14 © 2016, all rights reserved, www.GRC2020.com

Compliance Operationalization: Integrating Compliance Across Systems & Processes

Page 15: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

15 © 2016, all rights reserved, www.GRC2020.com

Compliance Intelligence: Integration of Actionable Content

Page 16: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

16 © 2016, all rights reserved, www.GRC2020.com

Compliance Mobility: Done & Delivered Anywhere at Anytime

Page 17: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

17 © 2016, all rights reserved, www.GRC2020.com

Maturing Compliance Through 360° Contextual Compliance Intelligence Delivers . . .

• Awareness

• Alignment

• Responsiveness

• Agility

• Resilience

• Lean Business Operations

Page 18: The Technology Advantage The Technology Advantage Placing the Right Bets to Build the Program of the Future April 2016 . Michael Rasmussen, J.D., GRCP, CCEP . The GRC Pundit @ GRC

Questions? Michael Rasmussen, J.D. The GRC Pundit & OCEG Fellow [email protected] +1.888.365.4560

Some of the content we have evaluated is OCEG content which GRC 20/20 has an established relationship to use. Please do not copy slides or graphics without permission. GRC 20/20 highly recommends you consider OCEG membership at www.OCEG.org.

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