GPRC Summit

Attendees, exhibitors & solutions

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Industry trends

Key trends shaping this market and its wider industry.

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Frequently asked

Glossary

1

GRC

Governance, Risk and Compliance: the combined set of structures, processes and systems that let an organisation set direction, understand the risks it carries and demonstrate adherence to laws, regulations and internal policies.

2

Enterprise risk management (ERM)

A firm-wide approach to identifying, assessing, aggregating and reporting risk across credit, market, operational, compliance, strategic and reputational categories, usually anchored in a board-approved risk appetite.

3

Risk appetite and tolerance

The amount and type of risk a board is willing to accept in pursuit of strategy, plus the quantified tolerance thresholds that trigger escalation when breached.

4

Three lines model

The governance model in which operational management owns risk (first line), an independent risk and compliance function oversees it (second line), and internal audit provides independent assurance (third line), with the board and its committees above them.

5

AML/CFT

Anti-money laundering and countering the financing of terrorism: the legal, procedural and technology framework used to detect and report proceeds of crime and terrorist financing, typically through transaction monitoring, screening and suspicious activity reporting.

6

KYC and customer due diligence

The onboarding and periodic review process by which a regulated firm identifies its customer, verifies identity and beneficial ownership, and assesses expected activity and risk rating.

7

Politically exposed person (PEP)

A person entrusted with a prominent public function, plus closely associated relatives and associates, who attracts enhanced due diligence because of elevated corruption and bribery risk.

8

Sanctions screening

Automated matching of customers, counterparties and payments against sanctions lists and other restrictive measures, followed by alert investigation, false-positive clearance or escalation and blocking.

9

RegTech

Technology that automates regulatory obligations such as reporting, screening, monitoring, record keeping and compliance testing, sold as platforms, data services or managed utilities.

10

Risk and control self-assessment (RCSA)

A structured exercise in which process owners score the likelihood and impact of risks and test the design and operating effectiveness of the controls attached to them.

11

Operational resilience

A firm's ability to prevent, absorb, recover from and learn from operational disruptions, usually evidenced through impact tolerances, business service mapping and severe-but-plausible scenario testing.

12

PDPL

Saudi Arabia's Personal Data Protection Law, which sets rules for lawful processing, consent, data subject rights and cross-border transfers of personal data for organisations operating in the Kingdom.

13

National cybersecurity controls

The control frameworks issued by Saudi Arabia's National Cybersecurity Authority for government and critical-sector entities and their suppliers, frequently referenced in vendor security questionnaires and third-party risk reviews.

14

Supervisory expectations

The published and unpublished standards supervisors such as the Saudi Central Bank and the Capital Market Authority use when assessing governance, risk culture and compliance effectiveness during examinations.

15

Whistleblowing (speak-up) channel

A confidential reporting route, often independently operated, through which employees and third parties can raise suspected misconduct, with case handling and retaliation protections.