Governance & Oversight

A key contributing factor aligned to the Financial Crisis was the poor Governance & Oversight of the firms held by the boards and senior management responsible.





As we approach 2020 – Governance and Oversight are two key words that are continually sited by the regulator looking at firms boards and Senior Managers to take ownership for their decisions, with serious fines and even imprisonment for those who don’t.



Richard Pike Governor

What drives Governor Software to help improve the Governance and Oversight across financial firms?


Richard Pike, the founder and CEO of Governor Software also sits as an independent non-executive director at three financial institutions (permanenttsb bank, JPMorgan fund administration and Citadel Securities).


Sitting on these boards has given Richard a very real insight into the phenomenal amount of material that non-exec directors must read, digest and make decisions on. Decisions which must also reflect the 1000 plus pages that must be read last month, and the month prior to that. With a background in finance and technology, it was as he was going through this process (understanding that, should he for some reason not be able to evidence his full consideration of all the details, he could be found liable) that led Richard to develop the Governor Software tool.


The Governor Software solution captures and displays in the form of a dynamic graph rather than a static list, "like a kind of living mind-map", the performance of Governance, Compliance and Risk functions in real-time to provide an overall picture of oversight across the organization.


Governance and Oversight & the Regulator


Globally regulator are asking for more information from firms to prove their boards and Senior Managers understand and comply with their responsibilities to manage their firm. 

Some key regulations include: 


Basel Committee - Corporate Governance Guidance For Banks

In July 2015  the Basel Committee on Banking Supervision provided a framework within which banks and supervisors should operate to achieve robust and transparent risk management and decision making.  Stating that effective corporate governance and oversight is critical to the proper functioning of the banking sector and the economy as a whole.


EBA Final Guidelines on Internal Governance

The EBA New Guidelines for Internal Governance come into effect on 30 June 2018.

The EBA Directive 2013/36/EU reinforces the governance requirements for institutions and in particular stresses the responsibility of the management body for sound governance arrangements; the importance of a strong supervisory function that challenges management decision-making; and the need to establish and implement a sound risk strategy and risk management framework.


FCA SM&CR Banking; FCA SM&CR Insurers

The FCA expect regulated entities to have oversight of the status of their compliance within the SM&CR regulations in particular they are required to provide a management responsibilities map, documenting the senior management responsibilities (Statements of Responsibilities – SoRs) for the firm as a whole, together with other information about the firm’s management and governance.


US Federal Reserve proposed guidance for Boards Supervisory Expectations

In January this year, the US Federal Reserve released for comment proposed guidance to clarify the Board's supervisory expectations related to risk management and oversight for large financial institutions. This is part of a broader initiative by the US regulator to develop a new rating system for large financial institutions that will align with the post-crisis supervisory program. In August 2017, the Board invited comment on the proposed rating system, which would reflect assessments of a firm's capital, liquidity, and governance and controls.



How can Governor Software Help?

When coming up with the concept and then initially developing the software, Richard Pike CEO was looking for a solution that could help him as a board director easily:

  • understand how Risks are Aggregated
  • drill down to detail from a high level
  • be able to clearly focus on what was important to him

What the Governor Software solution delivers is an integrated and harmonized risk and performance management solution. Governor Software offers an innovative approach for organizations to map and monitor the complex interrelationship of risks, objectives, regulations, and frameworks across the organization. It enables companies to map roles and responsibilities to objectives and risk, and track accountability, providing 360°contextual awareness of risk and objectives with clear reporting to decision makers.  


Governor Software addresses the lack of visualization and integration of risks across the organization. It achieves this by aggregating, integrating, and visualizing risk and performance information across the organization within a single platform, allowing it to be managed from one central location and ensuring accountability. Governor’s information architecture allows for flexibility in reporting and provides real-time feedback in the form of dashboards and notifications tailored for management. 


Learn more download the GRC20/20 Report that Reviews Governor Software:

GRC20/20 review



RISK Presentation


Risk Oversight: Challenges & a New Approach

Richard Pike, CEO, Governor Software

In this presentation to 250+ Risk Experts in London, Richard discusssed 

  • Risk Oversight Approaches
  • Current risk oversight challenges for FIs
  • A new approach to oversight
  • Practical guide and case study

 Risk Oversight Presentation

Bank Case Study


Once the Board had approved a Risk Appetite Framework, governance structure and

relevant metrics we sought out solutions that would allow the risk appetite to truly live in the

organization. We found this in Governor Software – elegant but powerful status

management and supported by a robust workflow.

Chief Risk Officer

3 Lines of Defence


Following the FT Report  that a major UK Bank's board has declared that the Bank still has more work to do to improve its controls and compliance, we rejoin Richard Pike, CEO, Governor Software as he relays back the salient points from a Chief Compliance Officer Round Table Dinner Debate he took part in earlier this year.


Who Needs Governor Software?


Governor Oversight

Risk Managers

Risk Management Oversight

Compliance Managers

Compliance Oversight

Senior Executives

Senior Manager's Regime





The Governor solution enables firms visualise their obligations and integrate the connecting risks, regulations, frameworks and policies across the organisation. This is done by aggregating, integrating and visualising each one along with performance information across the entire organisation. All within a single platform, allowing it to be managed from one central location and ensuring accountability. Governor's information architecture allow for flexibility in reporting and provides real-time feedback in the form of dashboards and notifications tailored for management
Governor enables the organisation to manage it's obligations across the organisation:

  • Mapping risk, obligations, objectives, and roles. Governor enables organizations to visually deconstruct and map objects such as risks and regulations to visualize and show complex inter-relationships.
  • Monitoring context. Governor allows organizations to monitor these relationships and alert when something occurs that might have a cascading impact of risk and exposure.
  • Tracking accountability. Governor then enables the organization to communicate and track accountability and ensure compliance and control across the organization.

Governor Business Landscape


GRC20/20 review


RegTech Video


Guide to Compliance Oversight