Case Study
Global Alternative Investment Firm Enhances Security and Compliance Posture across PortCos
Industry: Private Equity Portfolio: 400+ Companies Employees: 500+ employees Background: A leading global alternative investment firm with a diverse portfolio spanning multiple industries and regions. For over 20 years, the firm has driven operational excellence and value creation across its investments. Its mission includes aligning portfolio companies with best-in-class governance, risk, and compliance (GRC) practices to protect investments and mitigate risks.
The client’s extensive portfolio presented unique challenges in ensuring compliance and mitigating risks. Operating across diverse regulatory environments, the firm sought a robust, scalable, and centralized GRC solution to manage compliance requirements for hundreds of portfolio companies. The firm’s top priority was conducting comprehensive compliance assessments, particularly around the stringent requirements of the CIS Controls Version 8 (CIS V8), which posed a significant administrative and operational burden.
To address these challenges, the investment firm partnered with TruOps to modernize its GRC management processes and enhance risk visibility across its portfolio.
Challenges
1. Diverse Regulatory Frameworks:
Each portfolio company faced unique regulatory requirements based on their industries and geographical locations. Tailoring compliance strategies to these varied needs demanded significant effort and resources.
2. Scale of Operations:
With over 400 portfolio companies, the firm struggled to standardize compliance management and efficiently monitor risk across the portfolio. Manual processes created inefficiencies and increased the risk of oversight.
3. CIS V8 Compliance Assessments:
Conducting CIS V8 compliance assessments across the portfolio’s diverse operations was labor-intensive and time-consuming, requiring detailed evaluations of security controls.
4. Risk Visibility:
The firm lacked a unified platform to assess, document, and prioritize risks across its investments, resulting in fragmented GRC practices.
Solution
Key Features:
Multi-Tenant Functionality: TruOps enabled the creation of dedicated tenant instances for each portfolio company, providing individualized compliance management while ensuring confidentiality and security.
Comprehensive GRC Modules: TruOps offered modules for compliance, vendor management, risk management, and vulnerability management. Each module was designed to meet the specific GRC requirements of the firm’s portfolio companies.
Centralized Compliance Management: A centralized platform allowed the firm to oversee compliance activities, standardize workflows, and ensure alignment with regulatory requirements.
Streamlined CIS V8 Compliance: TruOps automated CIS V8 assessments, reducing time and effort while ensuring adherence to stringent standards.
Customization and Flexibility: The solution included a library of compliance frameworks and the ability to upload custom frameworks, enabling alignment with overlapping requirements and evolving regulations.
Enhanced Reporting and Dashboards: Fully configurable dashboards provided actionable insights and real-time visibility into compliance statuses, risk metrics, and maturity assessments.
User Authentication and Integration: Support for multiple Identity Providers (IdPs) improved accessibility and flexibility for investment professionals and portfolio company representatives.
Results
1. Simplified Compliance Management:
Tailored solutions for each portfolio company streamlined compliance oversight and reduced administrative workloads.
2. Standardized Assessments:
TruOps enabled standardized and efficient compliance assessments across the portfolio, ensuring consistent adherence to CIS V8 and other frameworks.
3. Increased Risk Visibility:
A centralized platform allowed for holistic risk identification, prioritization, and documentation, improving decision-making and risk mitigation efforts.
4. Time and Cost Savings:
Automation and customizable workflows significantly reduced the time required for compliance assessments and reporting.
5. Enhanced Security Posture:
Proactive risk management and real-time insights strengthened the firm’s overall security and compliance capabilities.
6. Portfolio-Wide Alignment:
TruOps’ flexible configuration enabled the firm to align GRC processes across diverse industries and regions, ensuring comprehensive governance and compliance coverage.
A Platform that grows with you
Tailored to get you from spreadsheets to scale
Going from Assessments-to-Reports and Beyond.
Looking to level up GRC services with an assessment platform that outputs a .docx editable report. Looking to use AI to identify risks, and provide recommendations that are mapped to controls.
Engages with clients to assess, mitigate, and track to KPIs. Offering managedGRC in areas like asset & vulnerability management or continuous controls monitoring.
Oversees GRC for PortCos or OpCos, with disparate frameworks and tools. Supporting risk and compliance, and looking to roll up insight for quick decisions.
Manages an in-house team, using either spreadsheets or an existing GRC platform. Looking for a solution that scales with more automation, crosswalk, or reporting.
