Develop Comprehensive GRC Strategy for a Multinational Bank
Objectives:
Develop a new Governance, Risk, and Compliance strategy of a multinational bank to align with international regulations, including EU DORA, and to integrate newly acquired entities securely.
Harmonise compliance across all operations in the EU and UK, ensuring every branch meets local and international standards.
Systematically integrate the cybersecurity frameworks of newly acquired firms, maintaining a unified security posture.
Reassess all vendor and third-party engagements across the bank’s global operations, implementing stringent security controls and continuous monitoring protocols.
Establish a centralised governance framework to manage compliance and security policies consistently across all regions.
Implement a sophisticated risk management framework and an insider threat program to proactively manage and mitigate risks.
Time to Complete:
18-24 months. This extensive timeframe is necessary due to the scale of the project, encompassing numerous global operations and compliance requirements.
Team Structure:
Agile Lead (1): To provide overall leadership for the GRC overhaul project.
Regional Compliance Managers (4-5): To handle local compliance activities and ensure regional regulations are met.
IT Security Engineers (5-7): To deploy and manage security solutions across multiple locations.
Risk Management Specialists (3-4): To identify and mitigate security risks.
M&A Integration Specialist (1): To manage the security aspects of mergers and acquisitions.
Training and Development Team (2-3): To design and implement a global security training program.
Required Resources:
Enterprise-wide GRC management platform to integrate and manage compliance across all operations.
Advanced cybersecurity tools for threat detection, incident response, and risk management.
Legal and compliance advisory services to navigate multi-jurisdictional regulations.
Budget for traveling and coordinating activities across different regions.
