“In the years since the passage of the Sarbanes-Oxley Act in
2002, people liked to joke that the real name of the act was the accounting professionals
full-employment act,” says Fierce Compliance IT, in a recent news brief. Today,
compliance and risk management have become key cornerstones in almost any
business model, particularly in the finance sector.
At Merrill Corporation, we’ve
always kept a close eye on GRC, and we couldn’t help but notice when the
country’s first academic course in corporate compliance was announced at the
University of Houston. Fierce Compliance delved a little deeper into what this
means for the industry.
So we're seeing more in the manner of enterprise risk management courses and seminars as well as new specializations in financial risk management. In the U.S. anyway, this trend has been firmly underway for years. In September 2010, for example, Harvard Business School launched a new executive education program, Risk Management for Corporate Leaders: Integrating Best Practices for Superior Strategy Execution, "to help senior executives understand the importance and necessity of robust risk management systems to the long-term success of their organizations."
What is the cause of this sudden interest? The long-lasting
financial crisis, for one. Experts are predicting that the echoes of this
crisis will keep GRC experts in the ‘highly-desirable’ category for years to
come.
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