The Nigerian Stock Exchange (NSE) Tuesday, launched SentryGRC to enhance businesses owners in achieving their strategic objectives, addressing uncertainties and act with integrity.
Brandnewsday reports that the SentryGRC platform was launched at the Digital Transformation of Governance, Risk Management and Compliance Functions webinar and celebrated with a digital Closing Gong ceremony.
At the webinar, NSE Chief Executive Officer, Oscar N. Onyema revealed that the Nigerian Stock Exchange aside from being a credible platform for raising capital it would continue to position itself as an innovative and creative hub.
Onyema said: “We are, therefore, pleased to introduce SentryGRC to the market. We recognize the need to build the required infrastructure for players in the Nigerian capital market, and we see the SentryGRC platform as a step in the right direction to help businesses achieve their strategic objectives, address uncertainties and act with integrity.”
One of the panellists at the webinar, the Executive Director, Regulation Division, NSE, Ms Tinuade Awe disclosed that the platform was designed to adapt procedures & standards.
Awe said: “The SentryGRC promotes agility & digitization in Governance, Risk Management & Compliance areas of business. Institutions must recognize the need to adapt procedures & standards to what is relevant even as we transition to this new normal.
“Furthermore, there is a responsibility on Regulators to become more comfortable with technology and engage with market participants on how to effectively design and deploy statutory standards that work from an operational point of view and also satisfy regulatory requirements.”
Functions of the NSE SentryGRC Platform:
The SentryGRC is a platform that automates several functions like Governance, Risk Management and Compliance. The platform allows organisations to pursue a systematic and organised approach to managing GRC-related strategy and implementation, thereby creating an enabling environment for increasing efficiency and effectiveness alongside reducing costs.
Meanwhile, the attendees of the webinar include the panel session moderated by Partner and Financial Services Risk Management leader, West Africa, Ernst & Young, Mr Benson Uwheru, with Chief Risk Officer, Coronation Merchant Bank, Mr Magnus Nnoka; Director-General, Association of Enterprise Risk Management Professionals of Nigeria, Mr Olayinka Odutola; and Ms Edidiong Akan, Chief Compliance Officer, Stanbic IBTC Pension Managers as panellists.
These all agreed that changing trends will continue to bring new risks making it imperative for organisations to invest in business architecture that is adaptable to today’s environment and can quickly evolve with the rest of the world.