Governance, Risk Management, and Compliance
Governance, risk management, and compliance (GRC)
The Main Components of GRC
Regardless of the setting you apply it to, GRC comprises three main components:
Governance – For any cybersecurity strategy to be effective and meet its intended outcomes, there must be structured oversight. Governance refers to cybersecurity decision-making processes that trickle down to the rest of the organization for implementation.
Risk management – Every organization faces risks, regardless of industry, but some of these risks can more significantly impact security than others. Risk management refers to how these various risks are handled, both before they can become serious threats that compromise data integrity and afterward when attacks or data breaches occur.
Compliance – With the help of regulatory compliance requirements, organizations can implement security controls that effectively safeguard their IT assets. However, the complexity and breadth of requirements vary across regulatory frameworks, requiring optimization to keep sensitive data safe.
Benefits of GRC Implementation By implementing GRC security, your organization will benefit from:
Integration of compliance workflows across regulatory frameworks such as:
PCI DSS
HIPAA
CMMC
Faster detection of vulnerabilities and gaps in security controls across IT infrastructure
Visibility into the performance of your current security controls and overall posture
A governance, risk, and compliance approach also helps simplify communication between the key stakeholders in compliance and risk management processes, making them more efficient.
Resources and Tools
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