Presentation of OCEG 2010 GRC Achievement Awards
June 1, 2010, Phoenix, Arizona
GRC ACHIEVEMENT AWARDS PRESENTED TO SIX LEADING COMPANIES
BEST BUY, CAPITAL ONE, CARNIVAL, DIRECTV, TAWUNIYA AND VISA all win OCEG awards and VISA receives the Peer Choice Prize
OCEG is pleased to announce the six winners of the 2010 OCEG GRC Achievement Awards, each of which have made strides in integrating governance, risk management and compliance (GRC) to achieve Principled Performance®.
Based on a vote by attendees at the Compliance Week 2010 conference in Washington, D.C. on May 24-25th, 2010, who viewed presentations about each of the winning projects, VISA also has been awarded the Peer Choice Prize.
“Each winning project is unique, and offers a useful example of ways that organizations can benefit from taking an integrated approach to governance, risk and compliance,” said OCEG President, Carole Switzer, as she announced the awards to the Compliance Week audience.
“Best Buy shows us an innovative use of social media in the Ethics Blog for Best Buy Employees. Using a method of communication that its younger workforce finds comfortable, Best Buy enhances discussions with employees and customers. Since the launch of the project in mid-2009, more than 60,000 visits to the blog have been recorded and use continues to grow.
Capital One tackled implementation of an enterprise-wide common foundation for risk management, overcoming challenges including fear about loss of data ownership and control. Step by step, Capital One has standardized, simplified and streamlined risk processes and outcomes.
Carnival undertook integration of GRC in a globally decentralized organization, forming a defined risk organizational structure that balances corporate control and operating company autonomy. Through this structure, Carnival has improved the view it has of compliance and risk issues as well as its ability to apply solutions and controls.
DIRECTV has dealt with the reality of continued use of spreadsheets even as it takes steps to mature its GRC processes. It has addressed the inherent risks and challenges of spreadsheet data management by implementing methodologies and software to provide a consistent approach and view into the data it manages across the entity.
Tawuniya, the leading general insurance company in Saudi Arabia, has developed an innovative corporate model linking GRC and Performance Management to develop a culture where management of risk is part of every process and GRC costs are reduced.
VISA designed and implemented a sophisticated Enterprise Risk Management program and GRC system to converge GRC activities and embed them in the organization. Consolidating more than 3,400 requirements into a system that supports focused analysis, analytics and assurance, VISA is positioned for governance based on a holistic view of risk.”