How the European Investment Bank Transformed its GRC System
How the European Investment Bank Transformed its GRC System
Challenges
- Replace an outdated internal control system
- Meet growing regulatory and stakeholder demands
- Standardize and integrate GRC processes
- Empower non-technical staff to use a complex GRC tool
Results
- Full traceability and audit trail for internal control and risk actions
- Scalable and stable GRC system ready for future evolution
- High-quality, targeted reporting for senior management and partners
- Successful user adoption through clarity of roles and streamlined deployment
The European Investment Bank (EIB) participated in Bizzdesign's EA & Risk Exchange virtual conference. Johnny Benavides, Head of Internal Control and Operational Risk Preemption for EIB shared his experience in internal control transformation during the Risk Management and Compliance (GRC) session of the conference.
