GRC systems remain scarce among central banks
Minority of central banks project adoption this year, others aim to upgrade
Governance, risk and compliance (GRC) processes remain uncommon among central banks, the Risk Management Benchmarks 2024 find.
Data from 33 participating institutions shows that only 12 (36.4%) central banks use the tool for risk management. The remainder of 21 (63.6%) do not. The divide is similar to findings from the 2022 and 2023 benchmarks.
GRC systems give central banks information to identify weak points and to mitigate risks. The system provides a structured way to put an institution’s
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