Governance, risk and compliance (GRC) as a strategy is still a relatively new kid on the block, and executives are faced with some stiff implementation challenges. Victoria Pennington takes a look at the expected and unexpected challenges presented by GRC

Opinions are divided about what governance, risk and compliance (GRC) actually is, but one thing is clear: there is no one way to implement it and there is certainly no easy way.

Software vendors have widely varying ideas on the best ways to approach GRC, but surprisingly some admit that technology can only do so much at its current level of development. Others - though they are not prepared to go on the record - doubt that some large, multinational and multi-divisional financial services firms will be able to implement a GRC system.

Operational risk executives generally