Compliance and risk often are thought of as separate, distinct functions. However, upon deeper examination, you’ll see that compliance affects risk, and risk affects compliance; what you do within your compliance program directly impacts risk.
In a sense, compliance and risk are two sides of the same coin. Compliance consists of a framework of statutory, regulatory or contractual requirements and implemented controls to satisfy those obligations. Compliance is binary. Each requirement is either met or unmet. Risk, on the other hand, manages decisions across a range of expectations and actions to achieve positive business outcomes. Risk is on a continuum and relies on controls to be in place for mitigating risks.. Whether a risk is acceptable or not will vary with an organization’s risk appetite.
Organizational Expectations
As security and risk management leaders are increasingly expected to reduce risk for their organizations, while also demonstrating and communicating the business impact of risk in a way that enables key stakeholders to understand the impact of their choices, they are faced with yet another challenge: gaining visibility of both compliance and risk in a way that enables them to provide actionable risk insights.
Unfortunately, the level of required visibility hasn’t been possible due to the “single risk register” approach supported by traditional GRC and IT Risk Management (ITRM) tools. InfoSec teams have had to navigate across organization silos. While controls may be managed, their relationship to risks is often undefined, hard to calculate, and difficult to track or take action.
But all that is now a thing of the past.
The Future of Risk Management
The Reciprocity ROAR Platform offers an entirely new approach to IT risk management by breaking down the silos between compliance and risk and providing a real-time view of risk within the context of business activities that empowers InfoSec teams with the actionable insights they need to avoid and mitigate risk and optimize security.
By unifying risk observation, assessment and remediation activities around business assets, processes or priorities, you gain the actionable insight needed at both an overall and detailed, program level. This dual level of insight enables you to report on risk in business context with all the details at hand, helping you make smart decisions to avoid and mitigate risk and optimize security.
Using an AI-powered approach, the Reciprocity ROAR Platform unifies your organization’s risk observation, assessment, and remediation activities with a single, real-time view of risk and compliance in business context. So, what does this mean for you?
- With the Reciprocity ROAR Platform, you can easily and efficiently convey the risk implications of business processes and priorities, in addition to the overall impact to the business, to enable informed, data-driven decisions.
- By breaking down the traditional silos that cause inefficiencies, gaps, and blind spots, the Reciprocity ROAR Platform provides a unified view of compliance and risk that helps keep your teams connected.
- The Reciprocity ROAR Platform offers expert-provided guidance and best practices that will provide you and your team with the confidence and know-how to create, grow, and mature your risk and compliance programs.
- By eliminating time-consuming, manual work and streamlining collaboration by automating workflows and integrating your most critical systems, you’ll be able to focus your team’s efforts on the activity that really matters: making strategic and operational decisions, improving controls with the most value, and sharing results and their meaning to organizational and business priorities.
With the Reciprocity ROAR Platform, you’ll have a unified, real-time view of risk and compliance-framed around your business priorities-providing the contextual insight you need to easily and clearly communicate with key stakeholders to make smart, strategic decisions that will protect your enterprise, systems and data, earning the trust of your customers, partners and employees.
To learn more, check out this short video.
