Graci

Graci, developed by RiskBusiness, is a flexible modular solution designed to meet the governance, risk, audit, and compliance (GRAC) requirements of small, medium, large, and global conglomerate firms. According to the vendor, Graci caters to various professions and industries including financial services, banking, insurance, healthcare, and manufacturing. It aims to streamline GRAC processes and ensure regulatory compliance.

Graci Governance module: According to the vendor, this module enables the maintenance of governance-related reference data such as organizational structures, employees, and users. It supports committees, meetings, senior officers, corporate, business, and performance objectives. Additionally, it includes features like Three Lines of Defence, defining accountabilities, and external entities management.

Graci Risk module: The vendor states that this module facilitates the integration of enterprise risk management into workflows. It aims to identify, assess, monitor, and mitigate credit, market, and liquidity risks. The module also manages emerging risks, risk and control self-assessments, incidents, and risk and loss events.

Graci Audit module: According to the vendor, this module supports audit risk assessments, risk-based audit scheduling, and resource allocation for the modern internal audit function. It provides functionality for managing working paper templates, planning, progress, and closing meetings. Additionally, it includes features for audit report, finding, and remedial action management, as well as auditor time management.

Graci Compliance module: The vendor claims that this module ensures compliance with regulatory obligations and internal policies and procedures. It supports policy and procedure management, compliance assessments, and reporting obligations. Users can effectively manage regulatory matters, AML/CTF/KYC/PEP/sanctions/financial crime cases, and litigation.

Graci Intelligence module: The vendor states that this module focuses on aggregating information into intelligence for informed decision making. It utilizes cognitive behavior theory, machine learning, and an intelligent digital assistant. The module harvests, classifies, monitors, and aggregates data from within and outside the firm. It provides benchmarks, ratings, and industry risk profiles, and supports reputational monitoring.

Graci Core Infrastructure module: According to the vendor, this module provides common functionality across all core functional modules. It includes features for remedial and corrective action management, authorizations and attestations, managing meetings, agendas, and minutes, documents and notes, and audit trails. The module also supports review cycles, rating bands, frequency bands, impact bands, and technical administration.