From Checkbox Compliance to Risk Ownership: The GRC Shift Boards Must Make
Checkbox compliance is comfortable. It creates a sense of progress without forcing difficult conversations. Unfortunately, it also fails under pressure.
When incidents occur, the question is not “Did you have a policy?” but “Who owned the risk, and why was it accepted?”
The Limits of Compliance-Driven GRC
Compliance-focused programmes:
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Prioritise audits over outcomes
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Encourage minimum effort
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Hide real risk behind pass/fail results
They rarely stand up to regulatory scrutiny after an incident.
What Risk Ownership Looks Like
Risk ownership means:
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Named senior owners for key risks
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Clear articulation of impact and likelihood
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Explicit acceptance or mitigation decisions
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Regular review and challenge
This creates defensible, resilient organisations.
A Competitive Advantage in Disguise
Boards that embrace risk ownership:
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Make faster, better decisions
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Invest more effectively
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Build trust with customers and regulators
In an environment of growing scrutiny, this shift is no longer optional - it is a leadership requirement.
