In order to avoid missing out on opportunities and neglecting potential threats to their objectives, organisations have no other choice but to integrate and effectively manage their Governance, Risk, and Compliance (GRC) practices if they want to stay in business.
For individuals considering a career in GRC, the opportunities are vast and varied. Whether you are drawn to analyzing risks, ensuring compliance with laws, or making organisations more resilient, there is a role in GRC that can align with your interests and skills. But because the field is so vast, it is important to first get an overview of all the available options, before anyone can make an informed decision about which career path they want to pursue.
So let's take a closer look at some of the career paths and opportunities within Governance, Risk and Compliance.
The Critical Disciplines of GRC
First of all, you won't find many companies that have a dedicated 'GRC' department. That is because GRC involves more than just one discipline, profession, or role. It relies on the collaboration between various disciplines to be effective. ”These disciplines are crucial for the effective management of an organization and its ability to achieve its goals while mitigating risks and ensuring compliance.
Here’s an overview of these disciplines, as described by OCEG®:
Governance & Oversight
Governance & Oversight helps an organization stay on track with its mission and values. It involves creating clear rules, processes, and guidelines that ensure the company is managed in a way that supports its goals and overall direction.
Strategy & Performance
Strategy & Performance encompasses the methods to guide, arrange, and operate resources to achieve objectives and monitor performance. When working in this discipline, you ensure ensures that an organization’s strategies are effectively implemented and that performance is regularly assessed to ensure business objectives are being met.
Risk & Decisions
Strategy & Performance focuses on how organizations use their resources to reach their goals and track progress. It ensures that plans are put into action effectively and that performance is regularly checked to make sure the objectives are being achieved.
Compliance & Ethics
Working in Compliance & Ethics involves identifying and managing both required and voluntary obligations, as well as the core ethical principles and values of the organization. This ensures that a company not only follows the law but also maintains high ethical standards in everything it does.
Security & Continuity
A job in Security & Continuity focuses on identifying and dealing with threats to an organization’s key physical and digital assets. This discipline is tasked with safeguarding resources and making sure an organization can keep running smoothly, even when faced with disruptions or security incidents.
Audit & Assurance
Audit & Assurance helps build trust that organizations are meeting their goals, managing risks, and operating with integrity. This involves conducting regular audits and evaluations to ensure that processes are effective and that organizations are following both internal guidelines and external regulations.
Career Opportunities in GRC
Keeping all domains of GRC in mind will help you take the first steps toward identifying where you see yourself in the future. Next, it’s time to explore specific career paths and consider which roles might align with your interests and skill set. Each discipline within GRC offers a wide range of career opportunities, catering to diverse interests and expertise. While there are too many roles to cover in a single article, we’ll take a closer look at some of the most popular GRC roles:
However, we can, and should, have a closer look at some of the most popular GRC roles:
Chief Information Security Officer (CISO)
The Chief Information Security Officer (CISO) plays a crucial role in protecting an organization’s information and technology assets. As the leader responsible for cybersecurity, the CISO oversees the development and implementation of security policies, strategies, and programs to safeguard digital and physical assets from threats. This role requires a deep understanding of both the technical aspects of cybersecurity and the strategic needs of the business. The CISO also plays a key part in incident response, ensuring that the organization can quickly and effectively respond to security breaches or other crises. For those with a strong background in IT and a passion for protecting sensitive information, this role is a perfect fit.
Internal Auditor
An Internal Auditor is responsible for evaluating and improving the effectiveness of an organization’s risk management, control, and governance processes. Internal Auditors conduct independent assessments of various departments and processes within the organization to ensure compliance with internal policies and external regulations. They provide recommendations to improve efficiency, reduce risk, and enhance the overall integrity of operations. This role is ideal for individuals with a keen eye for detail, strong analytical skills, and a background in finance, accounting, or audit practices. Internal Auditors are critical in helping organizations maintain transparency and accountability.
Compliance Office
The Compliance Officer ensures that an organization adheres to legal and regulatory requirements, as well as internal policies and ethical standards. This role involves monitoring changes in laws and regulations, conducting compliance audits, and training employees on compliance-related issues. The Compliance Officer also investigates potential compliance violations and works to mitigate any risks associated with non-compliance. This role is well-suited for individuals who are detail-oriented, have strong communication skills, and possess a thorough understanding of the legal landscape within their industry. Compliance Officers play a vital role in maintaining the organization’s reputation and avoiding legal penalties.
Data Privacy Officer (DPO)
The Data Privacy Officer (DPO) is responsible for ensuring that an organization complies with data protection laws and regulations. This role involves overseeing the organization’s data protection strategy and its implementation to ensure compliance with legal requirements such as the General Data Protection Regulation (GDPR). The DPO monitors data processing activities, advises on data privacy issues, and acts as a point of contact for regulatory authorities and individuals whose data is processed. This role is particularly critical in industries that handle large volumes of sensitive personal data. A background in law, IT, or data management, along with a strong understanding of data protection principles, is essential for success as a DPO.
Risk Analyst
A Risk Analyst is responsible for identifying, assessing, and managing risks that could impact an organization’s ability to achieve its objectives. This role involves analyzing data, conducting risk assessments, and developing strategies to mitigate potential risks. Risk Analysts work closely with other departments to ensure that risks are properly managed and that the organization is prepared for various scenarios. This role is ideal for individuals with strong analytical skills, a background in finance or business, and a knack for problem-solving. Risk Analysts are crucial in helping organizations navigate uncertainty and make informed decisions that support long-term success.
So, whatever your background is, there is a role in GRC hat aligns with your interests and talents. Each of these positions helps organizations achieve their objectives, manage uncertainty, and operate with integrity. This makes GRC professionals extremely valuable to their employers. In addition a role in GRC can be extremely rewarding and meaningful as you are contributing to the ethical and responsible management of an organization.
