Ramco Governance, Risk & Compliance

Designed to drive innovation in compliance management

Organizations today contend with point solutions for addressing specific regulatory needs in the markets that they operate. However, with new regulations and compliance standards being constantly evolved, organizations are constantly pressured to adopt new solutions that address these evolving standards.

While the cost of acquiring these compliance systems can become prohibitive, the organizations also run the risk of having these systems running as separate silos. These might lead to governance and compliance initiatives that are not aligned with the business objectives.

GRC management system offers a comprehensive framework that enables the organization define governance initiatives that are derived from strategic business objectives. Through the use of an intuitive framework modeler, organizations can define their objectives, the policies and procedures that govern the achievement of these objectives, and the risks that are associated with the achievement of these objectives. As the regulatory landscape changes, organizations can add or modify existing policies and also reassess the impact on the strategic objectives.

Moving beyond risk definition and control identification, Ramco’s GRC framework provides extensive risk assessment capabilities that are driven through user defined risk assessment forms for manual controls and event based assessments for automated controls.

With its integration to Ramco DecisionWorks™ , and Ramco Master Data Management , the GRC system offers a world-class reporting, ensures organizations work on “single version of truth” and performance monitoring dashboard that allows executives to monitor the performance of their GRC initiatives through a single window.

Salient Features

  • Security for concept library. Role and User based security can be provided for all library of OU, process, Risk , Objectives, accounts and controls.
  • Facility to define calendar. User can define a calendar period in which he wishes to operate for a particular time.
  • Facility to define the Compliance (governance) structure using library.
  • Facility to design forms using question library.
  • Raise issue for an assessment and track for closure.
  • Facility to monitor issues raised and their status
  • Facility to track activity (assessment) in progress and completed
  • Facility to define Assessments (Activity) through workflows. Configurable activity (assessment) by the user and trigger the assessment.
    • Choose for which instances the activity needs to trigger
    • Choose the workflow single or multiple assessor or self assessment
    • Choose the periodicity of assessment – monthly, quarterly, yearly.
  • Facility to display compliance structure on to the dashboard
  • Facility to create business rule and set alerts for the rules set
  • Facility to search from the library and choose the instance to be used
  • Facility to attach documents as reference documents to each and every instance – process, risk, controls
  • Facility to view previous assessment results in assessment form for reference
  • Facility to view the reference documents attached during the assessment in assessment form allocated
  • Facility to go and view the governance framework from the assessment form level
  • Key control/ Risk indicators can be attached at each level of governance framework to monitor their compliance
  • Facility to capture the efforts and time for performing activities by capturing the planned start date, end date and time taken for closing the assessment
  • All documents enclosed in the governance can be integrated with the document management system called share point portal.