Building A GRC Team: Roles And Responsibilities

To implement GRC, an organization’s key stakeholders need to appoint a GRC team to discuss its business goals, operations, expectations, and roles and responsibilities. 

In this blog, we’ll discuss the basics of a GRC team, its roles and responsibilities, and its importance. 

TL;DR The key roles of the GRC team include the board of directors, CEO, CTO, CFO, CISO, Chief Risk Officer, Compliance Officer, Cyber Analyst, etc. A GRC team’s wide responsibilities include setting the direction for the company’s cybersecurity practices, enforcing a risk management program, and preventing security breaches and attacks.  Building the GRC team involves defining the right structure, getting your executive’s support, defining roles & responsibilities, and training the team members.

What is a GRC team?

A GRC team serves as the vital link between policies and on-the-ground execution of the same. Its goal is to integrate policies with daily business operations, manage risks, and ensure compliance with industry standards. 

The GRC team is cross-functional, meaning its members are sourced from various departments of the entire organization. Its accountability is mostly shared and finally rests on the company’s CEO.

The success of a GRC team rests on its functioning outside the traditional organizational hierarchy to provide guidance to all employees. They must constantly be aware of internal information security and privacy policies and the standards to be maintained for compliance. 

Why do you need a GRC team?

Here are three main reasons why you need a GRC team:

1. Manage complicated processes

As organizations scale, the complexity of their business operations increases their attack surface. To manage this, a team of individuals must be appointed to mitigate risks such as cloud vulnerabilities, phishing attacks, insider threats, social engineering, etc. 

The GRC team addresses compliance gaps in business continuity by ensuring adherence to industry standards. Accountability becomes straightforward if issues arise when clear roles and responsibilities are established.

2. Ensure cooperation among teams

A GRC team ensures that all departments are aligned with the organization’s risk management system, compliance, and business objectives. The communication between the department representatives and the GRC lead helps achieve this. 

In June 2024, a cyber gang UNC3944 attacked vSphere and Azure to run VMs inside victims’ infrastructure. (Top Cyber News by Gerald Auger) They asked support teams to change passwords without MFA (Multi-factor Authentication). It resulted in the leak of sensitive information while threatening multiple families. 

The above case is a common example of cybersecurity being overlooked due to siloed team management. Such examples showcase the importance of having cooperation among teams. 

3. Conduct a culture of compliance

The involvement of the board of directors and leadership sets the tone for the rest of the organization to maintain ethical standards. This also encourages compliant behavior and commitment to follow regulations. 

When the leadership and the GRC team as a whole prioritize ethical behavior, adherence to regulations, and commitment to compliance through their actions, the rest of the organization gets inspired to follow suit. 

GRC team roles and responsibilities 

The GRC team’s roles and responsibilities ensure that the organization operates within legal and regulatory frameworks. It is responsible for properly functioning an organization’s GRC strategy while cooperating with internal and external stakeholders.

Let’s now understand the responsibilities of each role regarding GRC.

Roles	Responsibilities
Board of Directors	Crucial role for overseeing the GRC strategy and setting its direction. They govern cybersecurity practices and set accountability frameworks.
Chief Executive Officer (CEO)	They integrate GRC practices with business strategy. They make informed decisions, allocate resources for GRC initiatives and drive a culture of compliance.
Chief Financial Officer (CFO)	The CFO provides reports on the financial insights regarding compliance and risk management.
CISO (Chief Information Security Officer)	Leads the implementation of the GRC strategy org-wide. Develops and integrates information security policies aligning with GRC.
Chief Risk Officer	Leads the risk management program of the company and provides risk reports to the board of directors.
Chief Compliance Officer	Oversees the company’s regulatory requirements, develops compliance programs, and monitors policy adherence.
CTO (Chief Technology Officer)	CTOs confirm that the technology used in the company is secure and compliant. They manage technological risks and ensure system resilience.+
DPO (Data Protection Officer)	The DPO develops and implements policies for data protection and ensures compliance with regulatory laws for data privacy (e.g, GDPR)
Legal Counsel	The legal counsel provides reports on legal requirements while managing regulatory risks to avoid penalties and adhere to laws.
IT Security Specialist	They implement cybersecurity controls and scan vulnerabilities in the network. They also carry out security training for employees.
Cyber Analyst	The cyber analyst monitors cyber security incidents and analyzes them for mitigation and prevention. They gain visibility into risks and aid other roles to prevent security breaches and cyber attacks.
Risk Analyst	The risk analyst identifies, mitigates, analyzes, prevents, and documents cyber risks in the org’s cybersecurity program. They define risk appetite and provide these insights to all departments and top-level management.
GRC Lead	Executes the GRC strategies at a ground level, conducts security assessments, and ensures the functioning of all security controls and conducts cross-functional collaboration.
Department Representatives	Oversees the implementation of GRC practices in their respective departments and has tasks and internal controls specific to their areas. They also communicate compliance requirements to their teams.
Internal Auditor	The internal auditor evaluates compliance requirements and risk management, creates gap reports, and gives insight into its improvement. They conduct internal audits to report to top management functions.

What certifications do GRC roles require?

A GRC certification demonstrates expertise in cybersecurity and assures that the accounted person is credible to perform the duties required. Appointing individuals who are certified in GRC with such certifications will add value to your organization — safeguarding its reputation and bottom line.

Here are the top 7 industry-recognized GRC certifications that are good to have for GRC roles:

1. Certified in Risk and Information Systems Control (CRISC)

CRISC focuses on enterprise IT risk management. It enables professionals to identify, evaluate, and manage IT risks. It enhances their ability to implement effective information system controls. The exam fees for ISACA members is $575 USD and $760 USD for non-members. 

To achieve CRISC certification, candidates need at least three years of work experience in two or more CRISC domains. Preparation typically takes 6-9 months, and the exam itself is a 4-hour test with 150 questions.

2. Certified Information System Security Professional (CISSP)

CISSP is a globally recognized certification in cybersecurity. It covers critical security topics such as risk management, security architecture, and software development security, validating expertise in designing and managing cybersecurity programs.

CISSP certification requires passing an exam that covers eight domains, including security and risk management, asset security, and software development security. The exam fee is $749 USD for registration. 

Candidates must also have at least five years of cumulative, paid work experience in two or more CISSP domains. Preparation can take 4-6 months, and the exam lasts 6 hours and consists of 100-150 questions.

3. Certified Information Systems Auditor (CISA)

CISA is designed for professionals who audit, control, monitor, and assess an organization’s information technology and business systems. These auditors are competent in managing vulnerabilities and ensuring compliance. 

CISA certification exam covers five domains. Candidates need at least five years of professional experience in information systems auditing, control, or security. Preparation typically takes 6-9 months; the exam is a 4-hour test with 150 questions. The exam fee for CISA is $750 USD. 

4. Certified in the Governance of Enterprise IT (CGEIT)

CGEIT recognizes professionals who excel in managing and governing enterprise IT. It highlights their capability to align IT initiatives with business goals, optimize resources, and mitigate risks. This course can be completed with an exam fees of $740 USD.

At least five years of professional experience is required for CGEIT in managing, advising, or supporting the governance of IT. The exam duration is 4 hours with 150 questions.

5. GRC Professional (GRCP)

GRCP certification validates expertise in governance, risk management, and compliance (GRC). It enables professionals to integrate these disciplines to achieve organizational objectives and regulatory requirements.

GRCP certification can be achieved by passing an exam that covers the principles and practices of governance, risk management, and compliance. Although no specific work experience is required, familiarity with GRC concepts is beneficial. 

6. Certification in Risk Management Assurance (CRMA)

CRMA is ideal for internal auditors and risk management professionals. It’s suited for individuals who want to emphasize their skills in assuring core business processes to external audit members.

The CRMA certification exam assesses knowledge in risk management, governance processes, and assurance. Candidates need at least five years of internal auditing or relevant experience. The exam lasts 2.5 hours.

7. Project Management Institute’s Risk Management Professional Certification (PMI-RMP)

PMI-RMP identifies and manages project risks, equipping professionals with advanced risk management techniques. The PMI-RMP certification can boost career opportunities for project managers and risk management professionals.

PMI-RMP certification requires a combination of education and experience: either a secondary degree with 4,500 hours of project risk management experience or a four-year degree with 3,000 hours. Its preparation usually takes 3-6 months, and the exam is a 3.5-hour test with 170 questions.

The exam fees for PMI members to get this certification is $425 USD and $550 USD for non-members.

Building a GRC team in 4 steps

To build a strong GRC team, assess your organization’s risks and compliance needs, hire or train experts in risk management, information security, and regulatory compliance, and assign them specific roles and responsibilities.

Here are the four key steps to build a GRC team:

Step 1: Define the right structure

The structure of the team will depend on the size of your organization and the regulatory requirements that apply to your business. The four most common GRC team structures include:

• Centralized: Concentrated within one department, and it oversees company-wide activities.
• Distributed: Embedded within different departments, with a central team providing oversight but not direct control. 
• Hybrid: Distributed in different business units or geography to work with a central GRC team.
• Outsourced: Acquired external consultants to help the internal compliance team. 

Step 2: Get your executive’s support

Once you have a clear structure, you need to present a business case to your board of directors or senior management. Consider highlighting the benefits of having a GRC team and how it can help your organization avoid fines and improve operational efficiency. 

You can demonstrate the ROI of having a GRC team by showcasing potential savings from risk aversion, such as reduced legal costs and insurance premiums. You can also illustrate profit potential through market expansion and improved operational efficiency.

Step 3: Define roles and responsibilities

According to the size and requirements of your organization, define the roles you require and their responsibilities. Remember that assigned roles can have overlapping responsibilities in your team if your organization is smaller in size. 

Step 4: Train the team members

GRC team recruits could be either internal employees or external hires. Ensure that they have relevant experience and certifications. They should be well-equipped with training modules on risk management, regulatory compliance and its updates, tools used in GRC processes, and recent cyber threats.

Managing GRC with minimum resources

GRC automation tools, risk management tools, vulnerability assessment tools, SIEM tools, and more help organizations manage GRC with minimum resources. These tools help automate processes using security controls, risk detection techniques, and breach notification systems, minimizing the need for various individuals to govern these. 

Sprinto is a GRC automation tool that automates repetitive GRC  tasks like policy management, compliance tracking, third-party risk management, vulnerability scanning, and audit preparation. It manages corporate governance, risks and compliance processes effortlessly using asset inventory management, automated workflows and real-time monitoring.

With Sprinto, you do not need several roles at play to scale your business while building a GRC strategy. The platform lets you have a quick glance at your security posture and assess if all your security controls are working efficiently or not. 

It doesn’t just save your time, but your auditor’s too with a dedicated audit dashboard to readily available compliance health reports, gap reports, risk reports and vendor insight reports. This can bring down 60% of your compliance costs. 

Frequently Asked Questions

1. How does the GRC capability model work?

The GRC Capability Model, called the OCEG Red Book, helps organizations achieve Principled Performance. This means meeting goals, managing risks, and acting ethically. The model provides interconnected steps to guide organizations through continuous improvement.

2. What is GRC?

GRC (Governance, risk, compliance) is a business strategy that includes governing organizational processes, managing security risks, and ensuring compliance with industry standards. It improves the overall decision-making process while ensuring the company meets compliance requirements. 

3. Who is involved in GRC?

Governance, risk and compliance involves individuals in the org who are responsible for business continuity plans, strategic objectives, risk mitigation strategies, compliance with government regulations, and disaster recovery. It contains executive teams, internal audit teams and activity owners for enhanced decision making. 

4. Who is a GRC professional?

A GRC professional is an expert responsible for managing Governance, Risk, and Compliance within an organization. They ensure that the organization adheres to relevant regulations, identifies and mitigates potential risks, and maintains proper governance structure and processes. 

5. How much does GRC cost?

The cost of GRC implementation can vary widely based on the scale of deployment. For small-scale deployments, the cost ranges from $75,000 to $150,000. For enterprise solutions, the cost starts at $250,000 and can exceed $500,000. Learn more about GRC pricing. 

6. Why is a GRC team important?

A GRC team is important to manage governance in large organizations with complex business processes. The team works together with other departments to ensure compliance requirements are met, develops policies and implements them and monitors the risk management program.