Supporting strong governance, risk, and compliance
An understanding of operational risk – and how risk threatens corporate objectives and strategy – is a key concern for your business. Your board and individuals have an increasing legal responsibility for governance, risk and compliance (GRC). Failure to manage this efficiently and cost effectively can lead to business interruption and even costly litigation. You need a coherent and current view of risk exposure, enabling continuous visualisation, monitoring and management of risk. Successful management of compliance and operational risk can significantly impact your performance and profitability.
BT’s experience gets results:
- Our business operates across multiple compliance regimes and multiple geographies
- Our own business involves operational risk management for a global networked IT infrastructure
- We have extensive expertise providing risk assessments and risk treatments in the world of Information and Communications Technology (ICT)
- Our comprehensive risk and compliance management capabilities framework enables you to plan and implement an effective enterprise-wide solution
- Our tailored consultation process and unique methodology enable you to get it right, and know that you’ve got it right
- BT has won numerous industry awards, including twice being named as Best Compliance Company in the Telecoms Sector at the Compliance Register Awards (2005 and 2006)
Improving resilience and business performance
BT’s Risk and Compliance Management solution provides senior executives with the information you need to manage risks across the networked IT infrastructure. Its benefits include:
- Reduced risk of business interruption
- Early detection of risk exposures or control failures
- A culture of risk ownership, devolved to the most effective point of management
- Increased effectiveness and reduced cost of compliance
- The burden of compliance is systematised, controls processes fully automated where possible, and responsive to change
- Single global control framework, able to absorb change and accommodate new compliance directives
- Better strategic decision making
- Detailed understanding of your organisation’s capacity for risk across all operations and contribution to achievement of objectives
- Your organisation can use forward-looking techniques to improve for instance, operational efficiency, service levels and security, and leverage these for competitive advantage
- Better allocation of economic capital
- Accurate understanding of the trade-offs on costs of managing and treating risks enables informed decisions on the right levels of investment to yield the best possible returns
- Better performance management
- Ability to target your organisation’s risks and controls towards a desired level of performance
Let us help solve your governance, risk, and compliance issues
Successful risk management depends on the availability and accessibility of realtime quality information. BT’s vision is to enable our clients to create real value from their GRC strategies. Our approach is to transform risk management from a fragmented assortment of ad-hoc processes into an informed and considered business-wide view, forging real data and reliable trend forecasts together into realisable action planning.
BT’s risk and compliance management capabilities framework, with the BT Risk Cockpit™ at its hub, enables you to assimilate relevant operational data from across your business, and present it to key business executives and stakeholders in an arresting and compelling format that enables them to take informed decisions as needed.
Improving business performance and predictability with our end-to-end services
BT’s Risk and Compliance Management solution can bring your organisation operational and financial benefits. Significant returns on investment are likely through:
- Improved credit ratings as ratings agencies see the reduction in volatility brought about by your improved risk management strategies.
- Reduction in cost of capital from improved credit ratings.
- Reduction in regulatory capital from improved risk management processes.
- Reduction in compliance costs across the board, with automated as opposed to manual solutions.
Looking at compliance costs, it has been identified that, on average, manual processes are “…more than nine times the cost of automated processes; multiply that by 2,100 manual processes that a typical corporate runs…” (Source: PWC) and you can see significant impact on the cost base of your compliance programmes.
Next steps
The Risk & Compliance Management Quick Start is an ideal way of enhancing your Risk & Compliance Management capability and/or benchmarking against industry best practice. Contact your BT Account Manager for details.
RISK COCKPIT and BT RISK COCKPIT are registered trade marks of BRITISH TELECOMMUNICATIONS public limited company.
