Governance, Risk Management and Compliance - GRC

DEFINITION of 'Governance, Risk Management and Compliance - GRC'

An integrated approach used by corporations to act in accordance with the guidelines set for each category. Governance, risk management and compliance (GRC) is not a single activity, but rather a firm-wide approach to acheiving high standards in all three overlapping categories.

BREAKING DOWN 'Governance, Risk Management and Compliance - GRC'

GRC is a relatively new term, as goverance, risk mangement and compliance are all considered "new" categories of business management. While it may be difficult to assign a specific definition to GRC, since it can mean many different things to many different businesses, it is generally accepted that GRC is an approach taken by firms to ensure they act in accordance with the self-imposed guidelines set for each category.

RELATED TERMS
  1. Compliance Program

    The internal programs and policy decisions made by a company ...
  2. Compliance Officer

    An employee whose responsibilities include ensuring that the ...
  3. Compliance Examination

    A periodic examination of banks to make sure banks are operating ...
  4. Compliance Department

    The department or unit within a brokerage firm, bank or financial ...
  5. Compliance Registered Options Principal ...

    A supervisory and compliance position that FINRA required of ...
  6. Series 14

    An exam administered by the Financial Industry Regulatory Authority ...
Related Articles
  1. Managing Wealth

    Asset Manager Ethics: Risk Management and Compliance

    Managers should create a compliance and risk function that is integral to the investment function in order to plan for the increasingly more common market dislocations that occur in the global ...
  2. Investing

    Get A Job In Compliance

    If you're a stickler for rules, this could be a promising career path for you.
  3. Managing Wealth

    Compliance Officer: Job Description and Average Salary

    Learn what being a compliance officer entails, including job description, required education and training, skills and national average salary.
  4. Managing Wealth

    Compliance Officer: Career Path & Qualifications

    Read about what it takes to become a compliance officer, why the field is so diverse and why the government might be the best place to look for a job.
  5. Managing Wealth

    Common Interview Questions for Compliance Officers

    Prepare to ace your compliance officer interview. Learn how to answer some commonly asked interview questions and what you need to know to come out ahead.
  6. Financial Advisor

    Top Compliance Headaches for Financial Advisors

    Advisors who do not devote sufficient attention to compliance issues can find themselves in hot water with both regulators and their clients.
  7. ETFs & Mutual Funds

    Picking Top-Quality Hedge Funds

    Narrowing down your choices is the first step to finding a winning fund.
  8. Markets

    Corporate Governance

    Corporate governance refers to the formally established guidelines that determine how a company is run. The company’s board of directors approves and periodically reviews the guidelines, which ...
  9. ETFs & Mutual Funds

    3 International Equity Mutual Funds to Avoid in 2016 (AWPCX, BJBIX)

    Discover three international equity funds that investors should avoid in 2016 due to their poor fundamentals, high risks and poor track records.
  10. Financial Advisor

    What Triggers an SEC Audit for Financial Advisors?

    Advisors looking to avoid an SEC audit should pay heed to this list of what may catch the regulator's attention.
RELATED FAQS
  1. What's the average salary of a compliance officer?

    Learn about compliance officers, the locations and industries in which compliance officers work and how much they earn on ... Read Answer >>
  2. How does the government spend my taxes?

    Where does the government get all of the money it spends? From taxpayers. The government does not have its own money. Its ... Read Answer >>
  3. How significantly does government regulation impact the chemicals sector?

    Study the impact of stringent federal regulations on the chemicals sector and learn how industries are impacted by the cost ... Read Answer >>
  4. What types of categories appear on a cash flow statement?

    Learn what types of categories appear on a cash flow statement. Understand the types of items included within each category ... Read Answer >>
  5. What are the different groups involved in corporate governance?

    Learn about the challenges inherent to defining and executing corporate governance, and understand why different groups work ... Read Answer >>
  6. How do you calculate GDP with the income approach?

    Learn how to calculate the gross domestic product (GDP) of a country by using the income approach, which adds together all ... Read Answer >>
Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center