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Dear GlobalRisk Community member, Our community’s mission is to foster business, networking and educational explorations among members. Learn from some of the top experts in the industry as they clearly explain how to approach the most important Risk management concepts. Check out their expert tips and use the link at the end of each article to navigate back to the website to leave your comment or ask a question. Some of the topics include: How do you Explain Risk Appetite? How to Prepare a…
Read more…I have just published a guide on PEPs screening requirements around the world and would like to know if anybody has any feedback on it? https://complyadvantage.com/blog/politically-exposed-persons-peps-screening-requirements-around-the-world/CA-PEP-Screening-Map-FINAL-V7 (1).jpg
Read more…We created a free presentation (attached), which discusses both global and organizational impacts of the COVID-19 pandemic, along with critical actions organizations should take immediately. This presentation introduces a framework that helps regions and organizations navigate a path to recovery via 9 potential scenarios. These scenarios capture outcomes related to GDP impact, public health response, and economic policies. The presentation also breaks down 6 immediate and critical actions…
Read more…Now that the updated COSO and ISO risk management standards emphasize a connection to enterprise objectives and decision making, does this mean ERM and GRC solutions focused on risk registers and regulatory compliance are missing the true value of risk management?Will current risk management solutions evolve to integrate more decision support functionality or will standalone prescriptive analytics and other technology solutions take a more prominent role in enabling risk-informed…
Read more…We have an interesting question from one of our members. "We usually perform OTC FX transactions with clients backed-to-back on the market (with Banks). Now we are going to perform a FX swap (i.e. Spot + forward) JPY/EUR for the Bank account for 1 week at the longest. The purpose is to get EUR place @ CB for LCR compliance purpose (no trading purposes). Bank's Management think that this should be considered as a trading position and therefore be classified within the Bank's trading book.…
Read more…The recent sudden crash of oil prices has had a major impact on the world economy, leading to many troubled faces in the international arena. The Russians fear the effects of yet another powerful hit on their economy, Venezuela seems to be considering default and the Americans are weary of the consequences for its young and emerging shale oil industry. And then you have the Middle East, where the smallest match is enough to ignite the largest fire. But are these worries really justified or…
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Ten Common Risk Management Failures and How to Avoid Themhttp://www.protiviti.com/en-US/Insights/Browse-by-Content/Newslette...
Prima Invitation
I am pleased to announce that the first issue of Intelligent Risk is now available free to all PRMIA members.
Intelligent Risk is PRMIA's new quarterly publication, designed to bring knowledge to the PRMIA community. Each issue contains:
• Visions of Risk - Selection of thought-leadership pieces from some great minds in financial risk management
• What's on the Web - Reviews of important links on a specific risk management topic
• Academic Partner Profile - Insight to life in a PRMIA Academic Partner
• Chapter Profile - Overview of a local chapter
• News, Announcements, PRMIA Events - Catch up with the latest PRMIA initiatives
• PRMIA People - See at a glance the dedicated volunteers at the heart of PRMIA
I hope you will find iRisk beneficial and enjoyable.
Professor Carol Alexander
Chair of the Board
PRMIA
IntelligentRisk-Feb 11.pdf
Thank you very much!
Good resources!
Investor Due Dilligence paper
Strategic Risks ISO31000
Disaster Recovery in mainframe environment
Investor_Due_Diligence_Whitepaper112010.pdf
StrategicRiskISO31000TheGoldStandardCAJLAD15Sept09.pdf
TurboHercules_and_Disaster_Recovery_1.pdf
Emerging Risks: Steering the Course, Seizing the Opportunity.
This study highlights several reasons why executives still experience a serious disconnect between their approaches to
assessing emerging risks and effectively using this information to make better business decisions.
OW_EN_CR_PUBL_2010_LR_EmergingRisks.pdf
A wide variety of industry groups are represented, with the heaviest concentration in consumer business, energy, manufacturing, process industries, and telecom and media. Respondents were from Europe, North America and South America, and most represent midsized companies with annual revenues between $1 billion and $3 billion.
us_risk consulting-ERMBenchmarkSurvey_110308.pdf
The white paper 'Planning your way out of the financial crisis' looks at why pension funds have become such an important issue for CFOs and why companies – and pension fund trustees – should be planning to derisk their pensions. AEGON Global Pensions shows why the effect of this crisis on pensions internationally is different from the effects of previous crises. We also discuss how new reporting regulations have led to an increased visibility and understanding of pension fund risks, and reveal how different national and international regulations make it increasingly difficult for the CFOs of internationally operating companies to forecast and manage the impact of their pension funds on the corporate balance sheet.
Paying particular attention to the UK, the USA and the Netherlands (some of the largest, most mature second pillar pension markets), the white paper explores the effect of the financial crisis on the pension funds of multinational corporations.
In conclusion, we offer some useful guidelines on how to draw up an effective roadmap to derisking, making derisking more affordable in the process, and which actions can – and should – be taken now.
More information
Read more in the Summary (6 pages) or contact the author of the white paper, Jeroen Bogers (Product Development Manager at AEGON Global Pensions): jeroen.bogers@aegon.com.
White paper Planning your way out of the financial crisis.pdf
”Rather than asking what users need, firms look at their existing IT infrastructure and ask what they can bolt on to improve the results. In the end, they are making systems more complicated and approaching a point of paralysis.”
— GARP Report 2010
GARP recently conducted a survey which concluded that risk managers are often frustrated by multiple data stores and the difficulty in arriving at a single version of the truth. This is often the result of early adoption of the existing technology at the time and bolting things on as subsequent needs arise.
The technology has improved rapidly over the last few years and the regulatory climate is changing just as fast. Find out more about how risk management technology can meet post-crisis reporting requirements and reduce costs.
Other Key Findings:
Fewer than half the firms are pleased with the way their database technology is reporting but nearly as many don’t think it requires an upgrade
57% said they only update their risk management database overnight while businesses are starting to require on-demand analysis in real-time.
Enterprise and global views are being requested in a format that is comprehensible for a non-risk specialist.
Business and IT should be better engaged to capitalise on new technological solutions for future, cost-effective risk management needs.
2010-04_GARP_Risk_Management.pdf
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