Thirdera’s team of experts developed a maturity model that integrates risk, compliance, governance, and audit into one Integrated Risk Management (IRM) model. This model provides a map of typical organizational maturity as it relates to People, Process, and Technology:
People: Organizational goals are achieved with a clear delegation of roles and responsibilities.
Process: The way processes are defined and executed enables risk and compliance management.
Technology: Tools assist people by reinforcing processes and visualizing data.
Often organizations find that while mature in one area, they are behind in another. Understanding current maturity as it relates to each of the three facets above will help map out the next steps to drive forward progress.
Integrated Risk Management can be broken down into four maturity levels as they relate to the three dimensions of People, Process, and Technology:
Disjointed organizations often have duplicate efforts across frameworks, with no clearly defined responsibilities, processes, or tools (e.g. spreadsheets, Word, Access, etc.).
Reactive organizations prioritize their time in reaction to changing priorities and events. They have a basic delegation of responsibility, with documented processes that are enforced by a centralized tool.
Proactive organizations are anticipating issues before they happen, monitoring control compliance, with a comprehensive delegation of responsibilities and secure, central, data storage.
Managed organizations have identified roles and responsibilities that align with organizational accountability. They have automated monitoring and lifecycles in an intuitive, single view of integrated risk that includes real-time governance, compliance, and audit information.
While understanding the current state of risk maturity is the first step, mapping out the next steps of the maturity journey can be daunting and confusing. This is why Thirdera is standing by to provide the expertise and tools to expedite the IRM maturity journey. Thirdera is the world’s largest partner that is dedicated 100% to ServiceNow, giving you the best-shore resources at a global scale, including US-based, nearshore, and offshore options. Our IRM experts possess deep knowledge of how to properly integrate people and processes with industry-leading technologies. Contact us for an IRM maturity assessment.