ATLAS & Deloitte Masterclass: Exploring Governance, Risk and Compliance in Enterprise Risk Management

ATLAS ISME – School of Management & Entrepreneurship, in collaboration with Deloitte, recently hosted an engaging Masterclass on Governance, Risk, Compliance (GRC) and Enterprise Risk Management (ER​), by esteemed Associate Director of Deloitte, Mr. Zia Rizvi. Organised by the Career Development Cell, the session provided students with a deep dive into how structured decision-making, regulatory compliance and risk assessment are crucial for modern businesses.

The Masterclass emphasised the importance of governance in ensuring transparency and accountability, risk management in identifying and mitigating financial and operational threats and compliance in adhering to laws and regulations to maintain ethical and legal business operations.

The Role of Enterprise Risk Management (ERM) in Business Strategy

In this session, Mr. Rizvi highlighted Enterprise Risk Management (ERM) as a diverse approach to assessing risks at an enterprise level. Through the example of loan approvals and CIBIL scores, he illustrated how organisations evaluate financial risks in decision-making. A compelling case study showcased how governance failures and transparency issues can impact business operations and reputation, reinforcing the need for strict compliance policies in industries like banking and fintech to maintain stakeholder trust and prevent regulatory setbacks.

The Importance of Governance, Risk and Compliance for Business Success

The session emphasised that a well developed governance framework is essential for business sustainability, as it balances trust and credibility while ensuring structured decision making. Risk management was identified as a fundamental pillar of business success, helping organisations proactively mitigate financial losses, reputational damage and regulatory penalties. Additionally, compliance was positioned as more than just a legal requirement since failure to adhere to policies can result in operational disruptions.

Bridging Policy with Execution: The Way to Effective Risk Management

A major takeaway from the insightful masterclass was that even the most well-structured policies can fail without effective execution, which highlights the need for continuous evaluation and refinement of business processes to align with regulatory standards and strategic objectives. Organisations must not only create strong governance and compliance policies but also ensure their successful implementation to prevent failures and inefficiencies.

Preparing Future Leaders with Industry: Ready Insights

This Masterclass reinforced the importance of GRC in shaping resilient organisations and prepared students with industry-ready insights into managing risks in an evolving business landscape. By bridging academic learning with real-world applications, ATLAS ISME continues to equip future leaders with the expertise needed to navigate complex corporate environments.