BRICSTM (Business Risk Intelligence & Compliance Solution) is a Governance, Risk, and Compliance management Framework. It ensures that risk and compliance barriers are being transformed into new business possibilities.
Business Problem
Similarities across regulations create overlapping management, documentation, control and audit requirements, which can overwhelm efforts of compliance risk management effectively.
Solution
It is useful for identifying, understanding, and managing the dynamic inter-relationships between business and IT, while incorporating GRC disciplines into business-as-usual activities.
Why is the solution unique
Framework offers a holistic approach to organization-wide governance, risk, and compliance needs and requirements that encompass both the business and IT operations. This platform addresses compliance risk management challenges by translating them into opportunities.
Features/BP diagram of the solution
It is a data driven and analytics approach that builds intelligence in risk & compliance initiatives by focusing on
- Comprehensive process repository of 10 process domains with flows, RACI, KPIs, reporting & monitoring criteria
- Aligning business and IT compliance requirements, key governance process, matured process definition, operational methodology based on industry standards and best practices
- Tools-agnostic approach to deploy the framework for GRC solutions