Is specialising in technology governance, risk and compliance a good career move?
Estimated Read Time: 3 minutes
Today’s rapidly evolving commercial market is placing significant demands on Singapore companies as they juggle the need to manage evolving governance, risk and compliance (GRC) requirements while still achieving profitability and growth.
As recently as early June 2022 for example, the Monetary Authority of Singapore (MAS) issued revised guidelines on Business Continuity Management for financial institutions to help strengthen resilience against cyber-attacks.
The complexity of the business environment is driving demand for professionals with skills in technology governance, risk and compliance across Singapore. And it could be an opportunity to broaden your existing IT skills across cyber-security, or provide an incentive to pivot into an IT career.
Let’s take a look at why specialising in technology governance, risk and compliance can be a good career move.
What are the responsibilities of a technology governance, risk and compliance specialist?
From an IT perspective, a GRC specialist must address three key areas:
- Governance: Governance involves developing a formal framework for the company to follow to ensure IT investments and operations support business objectives.
- Risk: Addressing risk calls for having IT risk management policies and processes in place that protect company systems and data. However, it also involves creating scope to identify and seize opportunities that support company objectives.
- Compliance: A GRC specialist in Singapore needs to be aware of relevant local and international laws and regulations, and take the necessary steps to ensure company activities are compliant – particularly around IT issues such as data use, storage and privacy.
What qualifications are needed to specialise in technology governance, risk and compliance in Singapore?
For IT professionals thinking of specialising in technology, risk and compliance, a key requirement among many employers is a degree in Computer Science, Information Technology and Information Systems.
Additional professional certification are often regarded favourably. These can include:
- Certified Information Systems Auditor (CISA)
- Certified Information Security Manager (CISM)
- Certified Information Systems Security Professional (CISSP)
- Certified in Risk and Information Systems Control (CRISC)
More broadly, experience spanning IT security, risk management and cloud security is viewed as essential, especially when coupled with knowledge of relevant security standards such as ISO/IEC 27001, which sets out requirements for information security management.
Related: Want to know what you could earn as a technology governance, risk and compliance specialist? Find out in the Robert Half Salary Guide.
What are the most in-demand technology governance, risk and compliance skills?
Specialising in technology governance, risk and compliance can be a rewarding career move. However, technical skills and qualifications are not the only factors a hiring manager will look for.
Professionals specialising in technology governance, risk and compliance also need to demonstrate a range of soft skills. The most in-demand soft skills include:
- Critical thinking – this calls for a GRC technology professional to be able to analyse a situation and make logical connection to how it impacts the business. For example, understanding the nexus between compliance standards and company policies.
- Problem solving skills – in any company, the technology GRC specialist will likely encounter challenges that call for structured solutions. This may include finding cost-effective ways to meet compliance requirements.
- Relationship management – across the business, a technology GRC specialist will need to build trust across employees, suppliers, customers and other stakeholder to ensure policies around risk and compliance are being met and managed.
- Business acumen – for IT professionals specialising in technology governance, risk and compliance, meeting GRC objectives doesn’t have to come at the expense of agility. A strong business acumen can be critical in designing and managing effective governance, risk and compliance practices that provide a secure and compliant IT environment while still enabling the company to achieve growth objectives.
For tailored advice on whether specialising in technology governance, risk and compliance is a good career move for you, speak to the experienced recruitment experts at Robert Half. Or, if you’re ready to begin the job search, here’s how to find the right job for you.