Why Most Risk Governance Systems Fail (And How to Fix Them) | GRC, Third-Party Risk & AI Risk

In this episode of the Third Party Risk Institute Podcast, Linda Tuck Chapman speaks with Elina Moshkovich, an independent Governance, Risk, and Compliance (GRC) advisor based in Dubai, about one of the most overlooked areas of modern risk management risk governance systems.While many organizations invest heavily in risk frameworks, tools, and compliance programs, they often fail to address the governance structures that determine how decisions are made and how risks are escalated.Drawing on experience as a Chief Risk Officer and GRC advisor, Elina shares practical insights into how companies can design governance systems that actually work.In this conversation, we explore:• Why risk governance frameworks often fail inside organizations • The connection between operational risk, third-party risk, and organizational strategy • How governance gaps can create major risk exposures • A real-world example of a vendor failure that could have been prevented with better governance • Why risk culture and escalation practices are critical for protecting organizations • The growing importance of third-party risk management in an interconnected economy • The difference between principles-based regulations and prescriptive regulations like DORA • How companies should start thinking about AI governance and acceptable AI use policies • Skills and career advice for professionals entering risk management, compliance, and GRC rolesThis episode is particularly valuable for professionals working in:Risk ManagementGovernance, Risk & Compliance (GRC)Third-Party Risk Management (TPRM)Operational RiskCybersecurity RiskRegulatory ComplianceAs organizations become more dependent on external vendors, digital systems, and AI tools, effective governance is becoming the foundation of resilient risk management programs.🎧 Enjoying the podcast? Explore more resources, expert insights, and certification programs at www.thirdpartyriskinstitute.com📱 Follow us on LinkedIn for real-world conversations and industry trends: Third Party Risk Institute Ltd.📬 Have a question or topic you'd like us to cover? Email us at: [email protected]