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Glorified audit work. They’ll sell you on real GRC work but you’ll end up doing SOX. That said, there’s some really great people in that group. Client base is very much luck of the draw but in the GRC space they tend to be larger projects with decent budgets.
Depends on level. Staff sometimes have to work on IT Audit engagements if GRC work is in short supply but that’s not been the case recently. I know very few SM/Directors that aren’t fully on true GRC engagements. I go to market with them regularly, morale seems pretty good and they are in pretty constant demand.