RACI matrix for the development and maintenance of the Governance, Risk, and Compliance (GRC) framework in Company ZD:
Scenario: Developing and Maintaining GRC Framework at Company ZD
Key:
– R (Responsible): The person or role responsible for executing the task.
– A (Accountable): The person ultimately accountable for the task’s success and typically the one who approves the final result.
– C (Consulted): Those who provide input or expertise to the task and are consulted during the process.
– I (Informed): Those who are kept informed of progress or outcomes but are not directly involved in the task.
In this scenario for Company ZD, the Board of Directors holds ultimate accountability, while the CEO, CRO, CCO, and CAE play critical roles in executing and overseeing various aspects of the GRC framework. Other C-level executives, GRC committees/officers, and employees are also involved in different capacities to ensure a collaborative and effective approach to GRC.
