Podcast

The Proactive Side of GRC:
An All-New Competitive Advantage

Episode summary

On this episode, Jen-Larie Tumminello, TD Bank’s GRC Executive, reframes governance, risk and compliance (GRC) as a growth driver for organizations in regulated industries like financial services.

She challenges outdated perceptions of GRC and reveals how a well-executed, proactive strategy satisfies both customers and regulators. Jen-Larie unpacks the power of cross-functional collaboration, stakeholder communication and integrated risk disciplines to build trust inside and out.

Highlights

06:36The hidden impact of GRC on CX

09:04Jen-Larie defines proactive GRC

12:24 Understanding the different types of customers involved

14:30 Jen-Larie’s advice: How to get a seat at the table

16:59 The importance of data and a unified risk governance

21:23 How the voice of the customer fits into strategic planning

Key takeaways

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GRC builds customer trust

GRC systems ensure business practices are trustworthy, safe and reliable. By directly improving CX, it becomes a key differentiator for financial institutions.

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Use customer feedback to guide strategy

Incorporating the voice of the customer, both external and internal, into GRC strategy helps create solutions that meet everyone’s needs.

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Earn a seat at
the table

GRC professionals can influence strategic discussions, using data to highlight problems and propose solutions that unify risk disciplines.

About our guest

Jen-Larie Tumminello

Jen-Larie spent 25 years at the Federal Reserve Bank of New York in various risk leadership roles before moving to PwC as a senior director in cyber risk and regulatory. She then became an executive director at Morgan Stanley, building a first-line risk and control team for policy governance. Currently, she leads a multi-year GRC transformation project at TD Bank.

From the speaker

“Proactive GRC is making sure we’re aligned as a firm from the top down internally, but also externally. It means having one universal system that can be utilized firm-wide, helping not only to reduce and minimize risk, but also to improve the overall customer experience.”

“The whole universe of GRC systems aims to standardize and eliminate the silos of various systems used for specific tasks. Foundationally, the main focus is influencing customer experience, and ensuring trust and safety, consistency and reliability, and the use of ethical business practices.”

“Learning about the needs of your customers allows you to build something intuitive that meets all their needs.”

The Proactive Side of GRC: An All-New Competitive Advantage