A new survey was released today from Thomson Reuters and Complinet based on 337 global practitioners within the Financial Services sector. The survey focused on GRC and how organizations are focused on addressing the risks this year compared to prior years. While this is principally focused on the Financial aspects of Risk management, Fraud, and legal aspects there are some interesting takeaways.
The first that 71% of the professionals expect a need of greater resources and time to address an expected 83% increase in regulation and regulatory compliance requirements. The link, requires registration, not my favorite. It does provide the survey report – a short 4 pages, and the prior years at 6 pages. Not very deep, but some interesting points – the reports may be garnered from this link.
One aspect that was interesting was how little Internal Audit is brought into these conversations on dealing with the business risk. It is in direct opposite of what one would consider appropriate – and one I find consistent with the Information Security teams. The lesson here, engage Internal Audit .. no need to re-invent risk management techniques (btw: I feel the same way of risk management within I.A. when compared against the insurance industry).
For a technical focused report on compliance – check out the latest Ponemon Institute Report here.
See you all at RSA SFO 2011,