Modern businesses are engulfed by a constant stream of compliance and regulatory demands against a background of economic uncertainty, increasing risk and limited headcount. It means that finance functions of all sizes and in every geography are forced to do ‘more with less’ and are increasingly turning to automation and innovation to help manage the burden.
As functions deploy ever more sophisticated and distributed technology, such as AI, Machine learning, Python and non-code solutions, smart CFOs know that they are going to have to raise their game if they are going to manage risk effectively and avoid the next “spreadsheet battle”.
So the obvious question, is what is driving change in the GRC (Governance, Risk & Compliance) landscape, which technologies are relevant and how can CFOs best position their finance functions to master the automation challenges coming down the line?
To help us understand and debate these issues, Gary Simon, Chief Executive FSN and Leader of the Modern Finance Function on LinkedIn interviewed Karl Viertel, a thought-leader in the field of enterprise risk management and regulatory technology with more than 16 years’ experience in the field. He is currently General Manager GRC of Mitratech, a global leader in enterprise risk management and founded his own highly successful regulatory technology company in Germany. Before that, he was a director in the IT Risk and Security Management practice of Deloitte Australia.