The Results Are In! 2021 Risk Manager Insights

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2020 was a long and strange year.

To better understand the impact among GRC decision makers, LogicGate surveyed more than 190 risk professionals at companies ranging from 100 employees to large organizations with 10,000+ employees.

The survey covered GRC leaders in a range of industries — including financial services, manufacturing, FinTech, and retail — and examined how the pandemic affected risk management programs.

LogicGate’s Chief Marketing Officer Gina Hortatsos joins the podcast to discuss the findings. One of the surprising results is that while the vast majority (91%) acknowledged the importance of GRC programs to their organization, but only 45% of survey respondents said their current programs are extremely effective.

In conversation with host Megan Phee, Gina discusses why many decision makers don’t feel their programs are as effective as they could be — in part, it’s because they’re using manual processes — and why it makes sense to update these programs in 2021.

“If you think [your GRC program is] that important, but you're still using the equivalent of Post-it notes to manage your risk programs, understand that there are really cutting edge and state-of-the-art solutions out there that don't require a huge IT department to administer,” says Gina.

There are solutions that “allow you to collect everything in one place and reduce that risk of error” and of not understanding the big picture, she adds.

The full survey findings are available in “Operational Resilience: The New Paradigm for Risk.”