Big Data and GRC
Big data is transforming the world of governance, risk management, and compliance (GRC). In the Tech Talk video interview Big Data and GRC , Bruce McCauig, Director of Solution Marketing for SAP, shares thoughtful stories from his experience as a...
Big data is transforming the world of governance, risk management, and compliance (GRC). In the Tech Talk video interview Big Data and GRC, Bruce McCauig, Director of Solution Marketing for SAP, shares thoughtful stories from his experience as a chief auditor, global consultant, and board member. He also talks about exciting big data technology solutions from SAP.
Bruce has a passion for GRC technology. While technology helps to integrate GRC (and integration is essential) it’s only the beginning of the story. According to Bruce, “The impact of technology will be transformative. The people who are now involved in GRC roles will be doing different things in different ways and producing better results.”
GRC Technology Benefits
Bruce explores many benefits big data and GRC:
- Faster and more cost effective transaction and fraud analysis
- Improved continuous monitoring capabilities
- Visual dashboards that compile data in new, more powerful ways
- Integration of risk management, compliance, audit, and control management with business performance
- Forward looking (predictive) risk identification and assessment
- Google-like searches capability of historical data
- Comprehensive relationship analysis for third party vendor management
In one of many examples, Bruce tells of a proof of concept project with a global client. The client wanted to find out if they had made duplicate payments. They operated in many countries, with many currencies and data centers. In just a few minutes, using SAP’s HANA technologies, they were able to review millions of transactions, collected over six years, to identify a few dozen duplicate payments. This task (if undertaken at all) would have taken months to complete before big data technologies.
A Bright Future For GRC Professionals
Bruce’s vision for GRC professionals is inspiring:
“I think it’s the role of GRC practitioners to promote the adoption of technology — not just use it themselves – but to promote the adoption. There’s skill sets that have to be learned; There’s paradigms that have to be shifted; There’s disruptive thinking that has to take place. And I think it’s the role of GRC professionals to do that.”
Learn More: Watch OCEG Tech Talks
Bruce is an engaging storyteller and he covers many more topics including:
- Data lakes and their role in streamlining the audit process
- Big data and third party relationships
- Big data and the board
- GRC and business performance
- Big data and the three lines of defense
Learn More: Watch OCEG Tech Talks
Stay informed and watch the full hour-long video or select by topic from 17 short videos.
“Big Data and GRC,” is part of OCEG’s Tech Talk Series. The online videos explore GRC technology through interviews with solution experts. Visit the full series listing for more information.
