In:
Journal of Management Research, Macrothink Institute, Inc., Vol. 10, No. 1 ( 2018-01-21), p. 94-
Abstract:
In today's complex global business environment, having a clear vision of information and corporate governance approach, management and ensure the performance of compliance, risk and accepting it, are essential for the success of any organization. Organizations that choose corporate governance, risk management and compliance (GRC), at their forefront of their actions, have a competitive advantage. They well-informed their abilities in strategic decision-making, and able to respond with agility and speed to the threats and opportunities that arise. Therefore, the concept of GRC, in recent years, has attracted the serious attention of banks and financial institutions at the international level. Banks, as financial intermediaries, play an important role in creating economic stability. Hence, the development of processes and structures in order to manage the activities of the organization, in line with the needs of beneficiaries, internal and international business regulations and requirements and business risks as well as ensuring the safety and health performance of these financial institutions are necessary and inevitable. In particular, in the current situation that the premises and the space necessary to interact with foreign banks have been developed, attention to the frameworks and international standards in the interaction between banks, including the implementation of corporate governance, risk management and compliance have the utmost importance. Hence, the concept of GRC at international level has attracted the serious attention that covers all the organization's activities in the three areas of governance, risk management and compliance. Implementation of GRC integrated approach ensures that an organization reaches its desired goals and vision if acts rationally. However, some challenges and structural constraints in the banking system of the country and the lack of comprehensive instructions, which is derived from the requirements and internal conditions of the country and is developed based on international standards, cause the importance of this issue will be trimmed in the banks and financial institutions.Hence, in this study, first, the concept of GRC and the importance of its implementation in the banking system are explained and then, Different approaches to deployment GRC are included in the organization in and the following, we pointed to the relationship between GRC components, including corporate governance, risk management and compliance and examined the principles governing the establishment of each international authorities’ perspective and challenges in the banking system in this context, presented suggestions in order to overcome obstacles and constraints in implementation of GRC, effectively.
Type of Medium:
Online Resource
ISSN:
1941-899X
DOI:
10.5296/jmr.v10i1.12172
Language:
Unknown
Publisher:
Macrothink Institute, Inc.
Publication Date:
2018
detail.hit.zdb_id:
2531426-9
SSG:
3,2
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