Innovation in Compliance with Tom Fox Why GRC is the Keys to the Kingdom with Matt Kunkel
Matt Kunkel saw a need in the market for “a platform that could act as a central nucleus and bring together and automate in a flexible, easy fashion, all of the different components that make up a traditional governance, risk and compliance regulatory program.” He, together with John Siegler and Dan Campbell, founded LogicGate to fulfil that need. Matt joins Tom Fox on this week’s show to talk about LogicGate’s GRC platform and how it helps businesses improve their bottom line.
Every Business Needs a GRC Champion
Matt wants to give business leaders the keys to the kingdom from a technology perspective. Leaders should be able to own and maintain Governance, Risk and Compliance (GRC) technology that grows and evolves alongside the company’s growth and evolution. A well run GRC program has multiple stakeholders throughout the organization, he points out, especially a champion who will advocate for a culture of risk and compliance. He shares six tips for choosing the best GRC solution.
Managing Third Party Risk
Tom asks about the key exposure points in third party risk and how LogicGate’s solution helps to manage those risks. Matt responds that the best GRC program is only as good as the third parties we use and the programs they have in place. He explains the role of their platform in managing third party risk as well as performing due diligence.
Risk is Good
Matt explains why all businesses should have a Business Continuity Playbook: it’s your Bible to tell you what to do when a disaster strikes, he says. He emphasizes that risk is good. “Risk is good. Companies are built and scaled and grow and achieve great things because they take on… additional strategic risk,” he remarks. It’s about evaluating where risk lies and taking the necessary mitigating steps that would enable you to take on more risk and drive better business outcomes. “I hope that we as an industry can elevate compliance professionals, risk professionals, security professionals to a spot where we can help the organization make strategic decisions based on risk to drive better top line outcomes, more revenue for the business. It’s not just about asset protection, it's about revenue generation,” he comments.
Resources
LogicGate on LinkedIn | Twitter
Matt Kunkel on LinkedIn