GRC for efficient security management in a company

Coordinated management of Governance, Risk, and Compliance—known as GRC—provides essential strategic value to companies. Some of the benefits include better decision-making on key cybersecurity policy issues, a substantial improvement in operational efficiency against threats, a strong reputation for a company’s commitment to protecting information, and a significant reduction in security-related costs by aligning needs with available resources.

With cyber threats constantly evolving and the ever-increasing complexity of the regulatory landscape, companies must operate in increasingly codified and regulated environments to guarantee the security of their data. In such a context, focusing on Governance, Risk Management, and Compliance (GRC) is crucial.

WHAT IS GRC?

GRC is a comprehensive framework that helps businesses align legal, regulatory, and normative requirements with their operational management strategies in an organized and holistic way. It ensures that business goals are aligned with the growing need to address IT security issues appropriately. This concept, widely recognized in the cybersecurity sector, is made up of three main components:

• Governance (G): Establishes the procedures and guidelines that govern how the company is managed, ensuring compliance with applicable laws and regulations.
• Risk Management (R): Involves identifying, assessing, and mitigating the cybersecurity threats faced by an organization.
• Compliance (C): Focuses on ensuring that a company meets standards and regulations like ISO 27001 or, in the case of Spain, the Esquema Nacional de Seguridad (ENS), safeguarding against cyber threats.

GOVERNANCE

Governance structures the set of procedures that govern the operation of a company. It clearly defines the roles and responsibilities of employees, outlining the actions each person must follow to protect information and data security. It also establishes a strategy to ensure the organization works together to achieve desired goals while complying with legal and regulatory requirements.

Governance relies on effective leadership capable of coordinating a well-designed organizational structure, with clearly defined decision-making processes based on solid communication mechanisms that ensure the timely sharing of information. This helps maintain business operations in line with established cybersecurity parameters. A leadership team aligned with good governance practices plays a vital role in the continuous improvement of a company.

RISK MANAGEMENT

Risk management provides a systematic methodology for identifying, assessing, and acting against dangers (data breaches, vulnerabilities, and so on.) that threaten a company’s IT assets. With a thorough understanding of the risks a company faces, and the potential impact of a cyberattack, this key GRC function helps make informed decisions that strengthen cybersecurity strategies. Ignoring this aspect can lead to severe consequences, ranging from significant financial losses to irreparable damage to a company’s reputation.

Effective risk management not only reduces the impact of threats but also increases the organization’s cyber resilience.

COMPLIANCE

Compliance is the third critical component of the GRC framework. It ensures that a company adheres to the standards increasingly required for establishing secure cyber business relationships with clients and suppliers. Compliance ensures that a company’s activities and processes align with recognized external controls, regulated by trusted cybersecurity authorities (both nationally and internationally).

However, compliance is not just about following rules. Its primary function is to build trust, demonstrating a genuine commitment to using best practices to protect both the company and its stakeholders.

GRC AND REFERENCE STANDARDS

Having a solid GRC foundation helps simplify complexity. Its main importance lies in significantly contributing to a company’s ability to adapt to the ever-changing cybersecurity landscape, which is highly dynamic and adaptable. GRC organizes the myriad of aspects to consider when building a robust system to defend against cyber threats.

There are various reference frameworks, but ISO standards are perhaps the most widely known due to their widespread implementation. In addition, public agencies in each country have developed specific regulations, such as the ENS in Spain, which have become practically essential for compliance.

Adhering to these cybersecurity standards requires constant attention to numerous specific details, which are always changing. This is why many businesses rely on professionals dedicated solely to managing these complex aspects.

GRC SOLUTIONS

Most small and medium-sized businesses don’t have the resources for a dedicated department to handle all the complexities associated with GRC. As a result, many of these organizations are turning to outsourcing these functions. Having experts in implementing standards like ISO 27001 or ENS, along with other regulations (such as the General Data Protection Regulation), facilitates obtaining official certifications.

JakinCode, in addition to offering its clients a team of consultants with training and experience in these fields, has developed a unique application specifically designed to simplify the implementation process. The JakinSuma software is a solution that greatly aids in meeting cybersecurity frameworks. It enables businesses to define and develop their entire information security management system, minimizing risks so that they don’t become obstacles to achieving business goals. In addition to streamlining compliance, JakinSuma ensures the use of best practices, automating security management routines to keep systems constantly updated.

The GRC framework is essential for strategically managing cybersecurity in businesses. By integrating Governance, Risk Management, and Compliance, organizations can identify and mitigate threats more effectively, respond appropriately to incidents, and ensure their resilience. Moreover, GRC supports continuous improvement and guarantees that businesses comply with current regulations, strengthening their ability to protect their assets