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Over the past few years, there’s been a dramatic change in the responsibilities and the risks carried by human resources departments. Examples include widespread overcharging by vendors for services to retirement plans and the addition of cybersecurity to the list of regulated fiduciary duties. So while information technology and internal audit managers have implemented governance, risk, and compliance (“GRC”) standards, human resources executives have been slower to adopt and realize the benefits.
A GRC implementation for employee benefit plans isn’t a static state of being;
in a sense, it is the journey as much as it is the destination.
Forward-thinking organizations view GRC as an integrated collection of all capabilities necessary to support enterprise-level and employee benefit plan programs. Just as their IT and finance counterparts benefited from their embrace of formal GRC, employee benefit plan managers and fiduciaries are beginning to reap the same rewards. Human resources leaders find that GRC doesn’t burden their operations; it supports and improves them
Our host will discuss how GRC standards emerged and why fiduciaries need to ensure their qualified employee benefit plans operate within a GRC framework.
About our host
Ronald E. Hagan is chairman of Roland|Criss’ Risk Standards Committee. Ron has over 25 years of experience helping clients examine and improve their risk management practices for employee benefit plans qualified under the Employee Retirement Income Security Act of 1974. He is the engaging host of Roland|Criss’ weekly podcast and quarterly webinar series.
