Risk isn’t about chances, it’s about taking risk seriously, like Strategic risk, risk reporting and risk scoring to benefit your business. Strategic risk and sustainable risk are part of the three lines of defence aka as the 3 lines of defence. Your Chief Risk Officer will have heard about the 3 lines of defence and the importance of Governance, Risk and Compliance or GRC. This is also known as ERM or Enterprise Risk Management, but Compliance and Compliance Management and Compliance Systems have become a vital part of business strategies going into the next phase of business success. Being on top of Financial Risk, Operational Risk, Strategic Risk and Human Resource Risk is what builds solid businesses foundations.
The Internal controls and Governance established within your business is what will assist you to withstand Market Pressure and Operational Risks that are unforeseen or unexpected. TriLine GRC brings consistency, structure, control and continuity to your business processes. You no longer have to juggle spreadsheets or make endless diary notes to remember to meet the requirements of your Compliance Policy. Our GRC Framework supports the ‘3 lines of defence’ model for managing risk and compliance with task ownership and escalation capabilities, complementing risk culture objectives. It is a cost efficient way to deliver assurances around your governance processes while reducing the need for additional governance staff due to automation and inbuilt reporting.
Companies around the world are enjoying the benefits of the TriLine GRC system every day and find the smart features such as Detective controls, Key Metrics, the Obligations Register and the Control library to be vital parts of their GRC strategy. SO 31000 Risk Management encouraged the use of a 3 lines of defence framework for Risk Management to embed a strong risk culture.
Having a single integrated platform that facilitates the front line ownership of the risk and compliance obligations by all your staff also increases your value for money by installing Preventative Controls among other things.