The upcoming GPRC Summit 2023 will bring together government, risk, compliance, audit, and environment, social and governance professionals from across industries to discuss key topics such as governance, risk and compliance-related challenges faced by today’s top organizations, digital transformation, business integrated GRC, strategy execution, solutions designed to enable organizations to achieve stronger performance and alignment in mission-critical priorities, and others.
The event, hosted by Corporater — a global software company providing integrated governance, performance, risk and compliance solutions on a single platform — will take place on Jan. 23 in Riyadh, and on Jan. 25 in Dubai, and is supported by UAE Cyber Security Council and UAE Banks Federation.
With the fast-paced digitization and mounting regulations, many new risks have emerged, demanding firms to adapt their GRC processes and capabilities, stay compliant, and enable agile and proactive decision-making.
Recent research by IBM has revealed that more than 62 percent of organizations think the shift to digital has created gaps in their GRC processes with key challenges in security, privacy and data protection. Meanwhile, according to Risk.net, the top 10 operational risk losses for 2021 totaled $15 billion globally, with an enormous mass of these losses reported in institutional finance.
According to Gartner, spending on information security and risk management products and services is forecasted to reach more than $188.3 billion in 2023. The summit will analyze key topics in GRC concerning performance and strategy in the digital age, offering insights centered around the theme of “The Future of Effective Governance.”
Hassan Al-Amri, GM of risk management and BCM, Mobily Saudi Arabia, said: “The evolution of digital business and the need of organizations to apply digital transformation have altered the risk landscape.
“Through GPRC Summit 2023, we will deliberate and highlight the main challenges organizations usually face in their digital transformation journey and how risk management can play an effective role in responding to those risks. Through the panel discussion, we will share how an organization can assess its maturity in digital transformation and what the main risk management principles should be considered to support the digital transformation’s success,” he added.
Commenting on the need for effective governance systems, Ali Almuwaijei, vice president — governance, compliance and agility at Dubai Electricity Water Authority, said: “Effective governance is key to navigating the complexities in an ever-changing and dynamic world. It ensures the stability, security and prosperity of individuals and corporations. We at DEWA are committed to achieving the vision of our wise leadership and government and strive to continuously improve our practices to cope with the rapid developments and changes.”
“Organizations must continuously revisit their operating models to ensure continued profitability and drive toward agility with internal investments toward integrated risk and performance management as part of their digital transformation journey,” said Marc Haberland, CEO and founder of Clariba SEIDOR, a technology consultancy that provides data-driven digital transformation solutions.