Top priorities for general counsels and CCOs
When it comes to GRC as a whole, there are many entry points. Every unit has its challenges, the marketing folks, the internal financial folks, the IT guys, the human resources crowd and of course the legal units.
A recent survey sought the top six priorities for general counsel and chief compliance officers. From this perspective, what's going to be hot in 2013?
The research from the Legal Exchange Network reveals that "General Counsel and Chief Compliance Officers are continuing to concentrate on increasing department efficiencies & improving cost management. The need to 'do more with less' is still the top priority for the vast majority of the legal and compliance leaders surveyed."
It would be fair to suggest that this is perhaps the top priority across all the GRC disciplines, given the state of the economy. While GRC initiatives perhaps will be better funded than others, the growth in the GRC spend in general wouldn't appear to be explosive. Other priorities include: Instilling a compliance culture across the organization (the second top priority), litigation cost and management; recruitment, retention and training; M&A opportunities; joint-ventures and organizational re-structuring.
This definitely reflects a legally oriented perspective. Apart from the costs, the lists from a financial point of view would be quite different. But the issues are relevant for all.
- here's a release