Strengthening GRC Excellence at VEON 

VEON, a dynamic telecommunications provider, operates in a rapidly evolving business environment, where technological advancements and emerging risks and opportunities continuously reshape their operations. As part of their transformation efforts, VEON sought to streamline operations at their headquarters while fortifying their internal control structure. A critical element of this transformation was to achieve GRC (Governance, Risk, and Compliance) excellence, a best-practice approach to governance that empowers key stakeholders with reliable information. VEON approached BR1GHT to assess the maturity of their GRC functions and to help design a forward-looking strategy to further develop their governance and risk practices. 

Assessment, Analysis, and Strategy Development

For this engagement, BR1GHT worked closely with VEON’s GRC team and key stakeholders. The initial phase involved conducting in-depth interviews across the organisation, engaging senior leaders and decision-makers. These interviews were aimed at understanding the existing GRC framework, identifying pain points, and assessing the overall maturity of their processes. Leveraging our deep knowledge of best practices in GRC, BR1GHT provided a comprehensive assessment of VEON’s current state, helping the organisation gain a clearer understanding of their strengths and areas for improvement.

Following this analysis, BR1GHT facilitated a series of workshops with key stakeholders to co-create a future-oriented strategy. The workshops focused on aligning the GRC objectives with VEON’s broader organizational goals, ensuring that the team not only strengthened their current processes but also developed a robust strategy to remain agile in the face of future challenges. This collaborative approach empowered the GRC team to support VEON’s ongoing transformation by continuously improving processes, thereby increasing organisational resilience and adaptability.

BR1GHT’s GRC Maturity Assessment and Strategic Development 

BR1GHT’s engagement with VEON centred on a comprehensive assessment of their Governance, Risk, and Compliance (GRC) functions, leveraging BR1GHT’s GRC Maturity Model to evaluate their current processes and build a strategic roadmap for future development. This approach focuses on transforming GRC functions into trusted advisors and agents of change, enabling them to protect and enhance business value. 

The project began with an in-depth evaluation of VEON’s current GRC landscape. BR1GHT conducted interviews and workshops with key stakeholders to gather insights into the effectiveness of existing processes and to identify key areas for improvement. Through these collaborative sessions, BR1GHT was able to provide VEON with a clear understanding of their current maturity in governance, risk management, and compliance. 

BR1GHT’s methodology revolves around aligning five critical elements—strategy, structure, processes, people, and technology—with the company’s overall business objectives. By focusing on these interconnected elements, BR1GHT ensured that VEON’s GRC functions would not only address the current risk landscape but also support the company’s long-term growth. This meant developing a strategy that was forward-looking, creating a structure that enabled seamless governance, refining processes for greater efficiency, building the capabilities of the people involved, and integrating technology to enhance the overall system. 

BR1GHT provided VEON’s GRC team with a detailed analysis of their current maturity. BR1GHT coached the team through a collaborative process, enabling them to develop their own strategy. By guiding them through the analysis insights, the team crafted a tailored roadmap for maturing their processes in line with best practices. This workshop empowered VEON’s GRC team to take ownership of their governance journey and drive future improvements.  

By aligning these five critical elements—strategy, structure, processes, people, and technology—BR1GHT ensured that VEON’s GRC team would be equipped to support the organisation’s growth and resilience in an ever-changing risk environment.