GRC FAQ — Compliance, Risk Management & AI Governance | GRC2

Question 1

What is a fractional CISO?

Accepted Answer

A fractional CISO is an experienced Chief Information Security Officer who works with your organization on a part-time or contract basis. You get board-ready security leadership, strategic direction, and hands-on program oversight — without the cost or commitment of a full-time executive hire. GRC2 embeds directly with your team to build and run a security program that fits your size, industry, and risk profile.

Question 2

How does fractional CISO advisory differ from hiring a full-time CISO?

Accepted Answer

A full-time CISO typically costs $250,000–$500,000 per year in salary and benefits, requires a lengthy search, and may be underutilized at smaller organizations. A fractional CISO delivers the same executive-level expertise at a fraction of the cost, scales engagement up or down as your needs change, and brings cross-industry perspective from working with multiple organizations simultaneously. For most growth-stage companies, a fractional model is the right-sized solution.

Question 3

Do I need a fractional CISO?

Accepted Answer

You likely need fractional CISO advisory if your organization is facing a compliance deadline (SOC 2, CMMC, ISO 27001), preparing for a security audit, responding to a customer security questionnaire, building a security program from scratch, or needs board-level security reporting. Fintech, healthcare, and SaaS companies facing regulatory pressure are the most common fit — but any organization that needs credible security leadership without a full-time hire can benefit.

Question 4

What does a fractional CISO actually do day-to-day?

Accepted Answer

Day-to-day activities depend on your engagement scope, but typically include: developing and maintaining your security roadmap; leading risk assessments and gap analyses; building and reviewing security policies; advising on vendor and third-party risk; preparing board and executive security reports; guiding compliance efforts across frameworks like SOC 2, NIST, and ISO 27001; and serving as the accountable security leader for audits, customer due diligence, and incident response planning.

Question 5

How much does a fractional CISO cost?

Accepted Answer

Fractional CISO engagements are typically structured as monthly retainers, ranging from a few thousand dollars per month for lighter advisory to higher rates for embedded, full-program leadership. The right investment depends on your compliance requirements, team size, and risk exposure. GRC2 structures engagements to match your actual needs — contact us for a scoping conversation.

Question 6

Which compliance frameworks does GRC2 specialize in?

Accepted Answer

GRC2 has deep expertise across the major security and governance frameworks: SOC 2 (Type I and Type II), NIST CSF (Cybersecurity Framework), NIST SP 800-53, NIST SP 800-171 and CMMC (Cybersecurity Maturity Model Certification), ISO 27001, ISO/IEC 42001 (AI Management Systems), NIST AI RMF (AI Risk Management Framework), and the EU AI Act. Our advisors have led organizations through assessments, audits, and certifications across all of these frameworks.

Question 7

What is the difference between SOC 2 and ISO 27001?

Accepted Answer

SOC 2 is a US-based audit standard governed by the AICPA that evaluates your controls against the Trust Services Criteria (security, availability, confidentiality, processing integrity, and privacy). It produces an auditor's report — not a certification. ISO 27001 is an international standard that results in a formal certification of your Information Security Management System (ISMS). SOC 2 is most commonly required by US enterprise customers; ISO 27001 is often required for international contracts and regulated industries. Many organizations pursue both.

Question 8

What is CMMC compliance?

Accepted Answer

CMMC (Cybersecurity Maturity Model Certification) is a US Department of Defense framework that requires defense contractors and their supply chains to meet specific cybersecurity standards before they can bid on or hold DoD contracts. CMMC 2.0 has three levels: Level 1 (basic cyber hygiene), Level 2 (aligned with NIST SP 800-171, requiring third-party assessment for most contractors), and Level 3 (advanced, for the most sensitive programs). GRC2 guides organizations through CMMC readiness assessments, gap remediation, and audit preparation.

Question 9

What is the NIST Cybersecurity Framework?

Accepted Answer

The NIST Cybersecurity Framework (CSF) is a voluntary framework developed by the National Institute of Standards and Technology that provides organizations with a common language and structured approach to managing cybersecurity risk. CSF 2.0 organizes security activities into six functions: Govern, Identify, Protect, Detect, Respond, and Recover. It is widely adopted across industries as a baseline for security program design and maturity measurement.

Question 10

What is the NIST AI Risk Management Framework?

Accepted Answer

The NIST AI Risk Management Framework (AI RMF 1.0) is a voluntary framework published by the National Institute of Standards and Technology to help organizations identify, assess, and manage the risks of artificial intelligence systems throughout their lifecycle. It is organized around four core functions — Govern, Map, Measure, and Manage — and is designed to be flexible enough to apply across industries, AI use cases, and organizational sizes. GRC2 uses the NIST AI RMF as a practical foundation for AI governance programs, often in combination with ISO/IEC 42001 and the EU AI Act, to give organizations a comprehensive and defensible approach to responsible AI deployment.

Question 11

What is AI governance and why does it matter?

Accepted Answer

AI governance refers to the policies, processes, and controls an organization puts in place to manage the risks associated with developing, deploying, or using artificial intelligence systems. As AI adoption accelerates, regulators and customers are increasingly requiring documented AI risk management. GRC2 advises on the NIST AI RMF, ISO/IEC 42001 (the international AI management system standard), and the EU AI Act, helping organizations build governance frameworks that address bias, transparency, data privacy, and accountability in AI systems.

Question 12

What industries does GRC2 serve?

Accepted Answer

GRC2 advisors bring hands-on experience across a wide range of industries and organizational contexts — including Fintech, Healthcare, SaaS, Retail, Energy, Oil and Gas, Insurance, Higher Education, and S&P 500 enterprises, as well as Big 4 professional services environments. Whether you are a growth-stage company building your first security program or a large enterprise navigating complex regulatory requirements, GRC2 brings the cross-sector perspective and framework expertise to meet you where you are.

Question 13

How does a GRC2 engagement work?

Accepted Answer

Engagements typically begin with a discovery and scoping conversation to understand your current security posture, compliance requirements, and business objectives. From there, GRC2 conducts an initial risk and gap assessment, develops a prioritized security roadmap, and begins embedded advisory work. Engagements are structured as monthly retainers with defined scope — you always know what you are getting and what it costs.

Question 14

What is GRC2's experience level?

Accepted Answer

GRC2 advisors bring over 150 combined years of cybersecurity and risk management experience, with more than 80 assessments completed across SOC 2, NIST, CMMC, ISO 27001, HIPAA, PCI DSS, NYDFS, and related frameworks. Our team has served as CISOs, security architects, and compliance leads at organizations ranging from early-stage startups to publicly traded enterprises.

Question 15

Does GRC2 work remotely or on-site?

Accepted Answer

GRC2 engagements are primarily delivered remotely, which keeps costs down and allows us to serve clients nationwide. We are also happy to provide on-site support whenever a client requests it — whether for workshops, board presentations, audit support, or any engagement where an in-person presence adds value. Most security advisory work is highly effective in a remote model, and our clients find it more efficient than traditional on-site consulting.

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