GRC Transformation in Saudi Arabia: What’s Next ?

Saudi Arabia is undergoing a historic transformation—and governance, risk, and compliance (GRC) is at the heart of it. With Vision 2030 accelerating digitalization, foreign investment, and regulatory modernization, companies are under mounting pressure to meet evolving compliance standards. In 2024 alone, over 65% of Saudi enterprises reported GRC restructuring to align with new government expectations.

But what does the future of GRC in Saudi Arabia look like? How can businesses adapt efficiently while staying compliant and competitive?

This blog explores what’s next in GRC for the Kingdom, unpacks the regulatory shifts shaping the landscape, and outlines clear action plans for organizations aiming to stay ahead.

GRC stands for Governance, Risk, and Compliance—a framework that helps organizations manage risk, meet regulations, and align business operations with strategic goals.

• Governance ensures leadership, decision-making, and accountability are clear.
• Risk Management helps identify, assess, and mitigate operational, financial, and strategic risks.
• Compliance involves adhering to laws, regulations, and internal policies.

A robust GRC framework not only safeguards companies from penalties and reputational damage but also strengthens decision-making and boosts stakeholder trust.

In the Saudi context, GRC isn’t just a checkbox—it’s a strategic enabler.

Vision 2030: A Catalyst for Change

Saudi Arabia’s Vision 2030 outlines ambitious goals for economic diversification, digital transformation, and transparency. With this comes:

• Stricter regulatory enforcement by bodies like SAMA and CMA.
• Emphasis on ESG compliance and anti-money laundering (AML).
• Mandatory internal audits and reporting for listed companies.

Market Growth & Investor Expectations

As the Kingdom attracts global investors and enters new global indices, transparency and risk management are non-negotiables. GRC is no longer the back office—it’s a boardroom priority.

To succeed in this evolving landscape, businesses must embrace smart, scalable, and integrated GRC solutions.

 Centralize GRC Management

Use unified platforms that integrate governance, risk assessment, compliance workflows, and audits. This reduces manual errors and improves real-time insights.

Automate Regulatory Updates

Leverage AI-enabled tools that track updates from SAMA, CMA, and other authorities. Automating compliance workflows can reduce the burden on legal teams.

 Build a Risk-Aware Culture

• Conduct regular training and simulations.
• Involve top leadership in GRC strategy.
• Include risk KPIs in performance evaluations.

Embrace Cyber GRC

Incorporate cybersecurity controls, incident response plans, and threat intelligence into your GRC framework.

 Benchmark with Global Standards

Align with ISO 37301 (compliance management), COSO, and NIST frameworks to build global credibility.

 Example 1: A Riyadh-Based Bank

After facing two regulatory fines in 2022, this bank implemented an enterprise GRC system. Within a year, audit closure times dropped by 40%, and compliance errors decreased by 70%.

 Example 2: A Construction Giant in Jeddah

In alignment with Vision 2030 projects, the company adopted ESG compliance software integrated with project risk assessments. The tool enabled faster bid approvals and reduced operational downtime.

Saudi Arabia’s GRC landscape is shifting rapidly—bringing both risks and rewards. With Vision 2030 as a backdrop, businesses that proactively transform their governance, risk, and compliance systems will thrive in the new economy.