April 2018 Blog Posts (27)

Learn Best Practices In Subsidiary Management

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Added by GlobalRiskCommunity on April 29, 2018 at 9:00am — No Comments

Are You and Your Vendors Ready for GDPR?

Don’t assume you’re immune from this European regulation with huge 

All may be relatively quiet on the regulatory front in the U.S., but this May new privacy regulations are taking effect in the European Union, which will likely impact even the most provincial U.S. financial…


Added by Michael Jones on April 27, 2018 at 10:50pm — No Comments

The See-Through Economy: New Technology and Risk Management

Year over year, scandals like Wells Fargo, Equifax, Chipotle and so many others have dominated news headlines as they wreak havoc on consumers, investors, and awaken industry and government regulators. What is driving this trend?

Consumers have entrusted corporations with increasing involvement and influence in their lives through the decades. In 2014, for example, the Supreme Court ruled that corporations have some of the rights and responsibilities as natural persons. In other…


Added by Steven Minsky on April 26, 2018 at 4:56pm — No Comments

Telling Tales to Boards

Sanjay Verma was 5 years old when he was at parent teacher night with his older sister. He turned to her and asked why other kids in the room had parents there and he didn’t. It was then his world turned on its head. It was too much for his young mind to fully comprehend but he knew what his sister told him was big. She told him that once they were ten. They were mother,…


Added by Bryan Whitefield on April 24, 2018 at 1:34am — No Comments

Wells Fargo’s Failures in Risk Management Cost $1 Billion Settlement

Wells Fargo has suffered the consequences of repeat scandals since 2016. This week, the bank agreed to a $1 billion settlement with federal regulators who have cited their lack of effective risk management practices as the root cause of their woes.

This settlement with the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency would be…


Added by Steven Minsky on April 23, 2018 at 7:48pm — No Comments

3 Reasons Why Cybersecurity Ratings Are a Waste of Money

Investigating a vendor’s cybersecurity can be a time-consuming hassle. Wouldn’t it be nice if you could pay someone else to monitor and report back on a vendors’ cyber risk? That’s the appeal of cyber-security ratings. Firms provide…


Added by Michael Jones on April 23, 2018 at 6:00pm — No Comments

How to Break Up with Your Vendor

There may be 50 ways to leave your lover, but when it comes to ending a relationship with a vendor there’s really just one path to follow: the documentation in your service level agreement (SLA).


Financial institutions find themselves ending vendor relationships for many reasons. Sometimes the relationship is great, but the product or service no longer meets…


Added by Michael Jones on April 20, 2018 at 10:51pm — No Comments

Mobile Phone Numbers Are as Sensitive as Your Social Security Number

All of us have cell phones these days, and if you are like the vast majority of the population, you access everything from social media to banking information right from your mobile phone. However, if you do this, which everyone does, you are putting yourself in the position to get hacked. With only your mobile phone number and a couple other pieces of information, a hacker can get into these accounts and your life could drastically change.

How does this work? If a…


Added by Robert Siciliano on April 19, 2018 at 3:22pm — No Comments

Influencing Boards with Pictures

Last week I urged you to stand in the shoes of your board so you could identify their problems and align what you do with what they need. The next challenge is showing them you understand their problem. Yes you can use words, however, as I said last week,…


Added by Bryan Whitefield on April 17, 2018 at 4:00am — No Comments

Cyber Exposure Tip 2 = This time it's personal

I recently created my next video tip. It only takes about 3 minutes. However, this one is not about cyber exposure in organization but rather some advice regarding your personal cyber exposure. You can find the post at:…


Added by Douglas Nagan on April 15, 2018 at 3:00pm — No Comments

Increasing Risk May Not Mean What You Think It Does

When risk increases, the natural response is to take action to reduce that risk. But not every increase requires action. In fact, it may distract you from more important issues.

I’m talking about the risk of treating every risk the same.

Astute observers of risk have a variety of tools to…


Added by Michael Jones on April 13, 2018 at 6:48pm — No Comments

Interview with Richard Moss - Product Manager, AxiomSL on the impacts of FRTB

Boris: Hello ladies and gentlemen and welcome to our meeting. We are speaking today with Richard Moss who is a Product Manager at AxiomSL. As we move from VAR to expected shortfall regulation coupled with the focus on liquidity, I thought of sharing a perspective on one of the hottest regulations around the corner - the Fundamental Review of the Trading Book (FRTB).


You can watch a video recording of the interview here …


Added by GlobalRiskCommunity on April 12, 2018 at 5:30pm — No Comments

marcus evans to Host the 4th Edition CECL Methodologies, Implementation & Reporting Conference on June 11-13, 2018 in New York

marcus evans will host the 4th Edition CECL Methodologies, Implementation & Reporting Conference on June 11-13, 2018 in New York. This conference will give financial institutions a critical insight into the best strategies to hone their CECL implementations methodologies. You will deepen your knowledge of the modeling challenges, improve your strategies for CECL scenario development and tailoring models for different asset classes. Delegates…


Added by Amanda Pink on April 11, 2018 at 8:28pm — No Comments

GDPR Webinar: Your Company May Be Ready…But What About Your Vendors?

With the General Data Protection Regulation, the EU is taking privacy very seriously. They expect the same from you – and your third parties. How are you preparing your Vendor Risk Management program to handle these sweeping changes?

Join ProcessUnity for a 45-minute webcast on Wednesday, April 18, 2018 at…


Added by Rosalind Morville on April 11, 2018 at 6:00pm — No Comments

Webinar: the hidden human risk

Join the latest RiskMinds365 webinar, as our panel discuss diversity in risk management and evaluate how this could be hurting the bottom line of many financial institutions. 

While not a new notion, diversity in the workplace continues to be a widely discussed topic. Many…


Added by RiskMinds365 on April 10, 2018 at 5:30pm — No Comments

Influencing Boards with Big Shoes

I have been running with a series of blogs about the boardroom. My R is for CanceR blog last week suggested some boards are totally disconnected with the discussion on risk. Is it their fault…


Added by Bryan Whitefield on April 10, 2018 at 8:30am — No Comments

How to get the tools to envision your future?

A Message From Our Partner:

Getting actionable insights and effectively responding to change are staples for any corporation, especially when looking to optimize potential outcomes. In order to do this, the heads of businesses must be able to visualize entity relationships and recognize patterns. By using entity relationship diagramming, you can deliver stories that are easily processed by the brain, rather than extensive data sheets that don’t provide any…


Added by GlobalRiskCommunity on April 10, 2018 at 8:10am — No Comments

Hudson's Bay Data Breach Confirms the Need for Enterprise Risk Management in the Retail Industry

On Sunday April 1, Retail group Hudson’s Bay disclosed that it was the victim of a security breach that compromised data on payment cards used at Saks Fifth Avenue and Lord & Taylor stores in North America.

As many as 5 million cards may have been compromised, which would make the breach one of the largest involving payment cards over the past…


Added by Steven Minsky on April 9, 2018 at 5:11pm — No Comments

Cyber Security Tip - IoT implementation

I have created my first cyber security video tip. The tip involves identifying IoT devices and determining if they are a potential cyber exposure for your organization. If you are interested there is a video page here:


Hope you find it useful. 

Here is the text version:

Our first tip addresses the Internet of…


Added by Douglas Nagan on April 8, 2018 at 2:30pm — No Comments

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