Governance, Risk & Compliance

Defining what governance, risk, and compliance (GRC) is and how to measure it remains a challenge for many government agencies. Some view it as strictly software while others view it as a framework. At MorganFranklin, enterprise GRC is a strategic approach that optimizes the use of people, process, and technology to meet a broad range of compliance requirements across an agency. Enterprise GRC efforts also support the achievement of performance objectives and reduce the overall cost of compliance.

Why MorganFranklin?

MorganFranklin's Performance-Aligned GRC ModelTM helps agencies align enterprise risk and compliance management efforts with program goals and objectives. Our approach integrates the people, process, and technology components of enterprise risk management (ERM) with operational, strategic, compliance, and financial activities to achieve cost-effective compliance efforts in a strategic manner. It promotes collaboration across functions and departments while reducing overlapping controls, streamlining processes, and eliminating non-value-add compliance activities.


Capabilities

  • Evaluate maturity of existing GRC efforts against appropriate practices and standards
  • Assess level of alignment between compliance and performance management efforts
  • Identify gaps and make recommendations for prioritizing future GRC efforts and budgets
  • Embed GRC into day-to-day activities to create risk-aware business processes
  • Evaluate benefits and conduct requirements for GRC tools (SAP GRC, Approva, etc.)
  • Identify organization-specific success factors critical to long-term GRC sustainability

Impact & Value

    • Transform GRC efforts into strategic initiatives
    • Link compliance and risk management efforts with performance and program outcomes
    • Reduce overlapping and inefficient compliance processes that waste time and money
    • Cut costs by linking controls across multiple requirements
    • Keep rampant "over-auditing" in check
    • Dedicate fewer resources to compliance efforts
    • Make more informed decisions about challenges and risks
    • Create excitement and confidence around internal controls
    • Demonstrate quick wins and show the big picture so employees see value

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