Governance, Risk and Compliance Consulting

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The Governance Risk Compliance (GRC) practice has been providing advisory and implementation services that enable our customers to meet their governance, risk management and compliance goals. These services are applicable to a wide variety of industry verticals, including banking, financial services, health care and life sciences, retail, manufacturing, utilities, media and entertainment, hi-tech etc.

Client Challenges

In the era of stringent corporate governance, new regulatory requirements have increased the challenge of compliance. All organization, regardless of size, are struggling to comply with these regulations as well as effectively managing their enterprise risk. The cost and effort to establish, maintain and prove compliance are very high, and could ideally be devoted to enhancing the growth of the business.

What HCL GRC consulting practice provides

The HCL GRC practice includes both business and technology domain experts that deliver a unique combination that is essential for a successful GRC program in an organization. Our experience working with the customers and our deep domain knowledge have allowed us to develop solutions that help companies meet regulatory compliance requirements, automate GRC processes and fully leverage the capability of the GRC technology solution.

The range of compliance advisory and implementation services span across regulations such as Sarbanes-Oxley, HIPAA, FDA, PCI-DSS compliance, Federal Identity compliance, NERC compliance to best practice implementation approach like Information Security (ISO 27001), IT Governance (COBIT), Enterprise Risk Management implementation (COSO) etc. Over a period of time, the HCL GRC team has developed a mature framework that has been successfully deployed in various GRC engagements.

The major focus of the HCL GRC consulting practice is to provide functional consulting that addresses multiple compliance and risk management challenges along with reducing the costs in meeting these requirements. This requirement is met by specialized GRC management software for effective assessment, recovery and optimization. HCL GRC practice has collaborated partnership with CA for their GRC Manager 2.0 tool as a preferred technology solution for implementing and managing GRC programs. The Integrated GRC approach through CA GRC Manager enables organizations to meet the following objectives:

Governance: Breakdown organizational, functional and process 'silos'. Ensuring that sound governance structure is in place so that the right information is available with right people at right time
Risk: Integrate risk management with strategic planning and maintain a 360 degree view of organizational risks and effectively allocate resources to address them
Ethics and Compliance: Establish practices and a culture to prevent misconduct inspire desired conduct, detect problems and improve outcomes
Finance: Reduce cost and optimize how the capital allocation to GRC is done so that it is better aligned to the business
Technology: CA GRC Manager is an enterprise compliance management application, for organizations to streamline their policy management, risk management, and compliance initiatives, include internal audit, and control testing, remediation and ongoing compliance lifecycle management. The central management tracks required tasks and costs associated with compliance. Integrations with continuous control monitoring applications, provides visualization of automated detected and preventive controls.
Audit: Go beyond financial processes and assess the design and operation of controls for GRC and ethics efforts throughout the enterprise
Core Processes: Embed sound GRC practice in all lines of business and core processes so that business owners and operators are accountable for GRC success