Welcome to this special podcast series, In Conversation with K2 Intelligence FIN: Jeremy Kroll on GRC Risks, Strategies, and the Future, sponsored by K2 Intelligence FIN. This week am visiting with K2 Intelligence FIN, Chief Executive Officer (CEO) Jeremy Kroll on GRC Risks, Strategies, and the Future. Over the week, we have reviewed the current Governance, Risk, and Compliance (GRC) landscape, looked at GRC at work, considered GRC and the investment community. In Part 4, we consider GRC and K2 Intelligence FIN and will conclude tomorrow with a look at GRC then and now.
Jeremy Kroll counseled that you must “start with an investigative mindset and understanding what the core risks are. Where is that inflection point? Sometimes you might find out a little bit late, but so long as you are quick to react and pivot, you can change the calculus. That means you have to be ready with enough resources internally. You need to make sure that you have a couple of key crisis response or organizations on speed dial because you can’t do everything yourself and your team is usually focused on doing business as usual.” He ended with “how do you be prepared and be in a position to make sure it is a normalized environment when you are dealing with a significant risk to your organization?”
A growing area is outsourced compliance, which was once again recognized in the 2020 Update to the Department of Justice’s (DOJ) Evaluation of Corporate Compliance Programs. Jeremy Kroll noted, “For entities of any size, it’s important to have the ability to constantly monitor and update compliance procedures and protocols as risk profiles change. However, we also know compliance budgets are under tremendous pressure to adhere to budget cuts and to create greater efficiencies. As a result, our third-party managed services offer outsourced technology and manpower service that enables these organizations to meet regulatory requirements and control costs. We leverage flexibility and scalability across areas including coping with a shortage of experienced employees; improving compliance processes; developing and maintaining a robust technology infrastructure; and tackling global compliance demands.” Jeremy Kroll concluded, “This way, for entities who don’t know where to begin or simply do not have the internal resources, they can rely on organizations like ours to help.”
Please join us for our final episode of this podcast series where we examine GRC: then and now.
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