Risk and Compliance's Blog (39)

How Financial Risk Management Helps Businesses

Have you ever stopped to analyse whether financial risk management is done correctly and efficiently in your company? Do all efforts to avoid bankruptcy in the business? You are likely to be divided when answering this question, as it is sometimes overlooked by managers. 


Why prepare to avoid bankruptcy? 

Dealing with market fluctuations and unpredictability is a task for both large…


Added by Risk and Compliance on July 13, 2020 at 2:17pm — No Comments

The Difference and Link Between Risk and Compliance Management

Both risk management and Compliance help prevent threats to the company's legal structure and physical assets. Therefore, we have prepared this special content for you to check everything about the two methodologies and the advantages that the proper implementation confers on the business. Check out! 

What is risk management?  

First, it is important to…


Added by Risk and Compliance on June 6, 2020 at 10:30am — No Comments

How does Risk Management Relate to IT Governance?

Risk management is a policy that is part of several corporate processes. It allows businesses to have a more solid routine, in which the company avoids losses and problems in delivering results. With the digital transformation taking technology to several processes, risk management has also started to influence IT governance processes. 

This is because as IT becomes a means to provide higher quality services, it is essential that the…


Added by Risk and Compliance on May 8, 2020 at 11:00pm — 1 Comment

10 ways financial risk management software helps businesses

In the business environment there is not much scope for errors or problems that hinder the company's development and productivity, so financial management software is indispensable. 

In addition to automating your business processes and increasing the security of information storage, there are many other benefits that financial…


Added by Risk and Compliance on April 17, 2020 at 6:34pm — No Comments

The Basics of Enterprise Risk Management

Risk management actions are important for all businesses, regardless of their size or segment. 

To understand this, just remember that, whatever the process in your daily life, the risks represent uncertainties regarding the results achieved. It may be the risk that the raw material will run out, that a machine or equipment will stop working, that a tool will fail, that productivity will fall, in…


Added by Risk and Compliance on April 3, 2020 at 5:54pm — 1 Comment

6 Steps in the Risk Management Process

The risk management process is inherent in any project. When we develop a plan, we think about what can go wrong and devise ways to minimize problems. Therefore, the process itself needs to be simple and effective to avoid complexity as a risk enhancement factor. 

Although, described in this way, the risk management process may seem difficult to…


Added by Risk and Compliance on March 31, 2020 at 3:45pm — 1 Comment

Compliance for Fintechs: Technology and Regulation in the Banking Sector

The number of fintechs has been growing significantly, introducing the market once and for all to the era of digital banks. Created by the absorption of technology (tech) in the structure of the financial sector (fin ), they are revolutionizing traditional banking services. However, despite their business advantages, fintechs are not unaware of the compliance-integrity…


Added by Risk and Compliance on March 30, 2020 at 1:39pm — No Comments

The Coronavirus Outbreak and Enterprise Risk management

It is easy to operate a business in a stable environment. Businesses can ignore a few risks because they know that in the grand scheme of things, they will be fine. However, a crisis like the current coronavirus outbreak completely changes the equation. Businesses are currently reeling from the impact of the outbreak because they cannot cope up with the dynamic nature of this emerging risk. 

The coronavirus outbreak’s risk is something known as the…


Added by Risk and Compliance on March 13, 2020 at 3:00pm — 1 Comment

Monitoring Automation is the Future of Compliance

Most small businesses do not need to worry about compliance too much – the rules and regulations that form the small business regulatory framework are relatively simple. However, there are certain industries where these regulations are complicated and if a business becomes large enough in any industry it starts to need better compliance tools and technology. The reason compliance is such a crucial part of any such organization is that it controls what the…


Added by Risk and Compliance on March 10, 2020 at 1:24pm — No Comments

Understanding Enterprise Risk Management

What is risk management?  

Risk management is the process of planning, organizing, directing and controlling an organization's human and material resources, in order to minimize or take advantage of the risks and uncertainties about that organization. 

Uncertainties represent risks and opportunities, with the potential to destroy or add value. …


Added by Risk and Compliance on February 21, 2020 at 2:35pm — No Comments

Dealing With Business Risks

When talking about running a business, one of the most important points that must be addressed is in relation to business risks. When mistakes and accidents happen, the company can face heavy losses in different avenues such as productivity, finances and, in some cases, its image in the market. 

However, the good news is that most failures can be avoided through knowledge and planning. Thus, measuring, controlling and…


Added by Risk and Compliance on February 14, 2020 at 6:14pm — No Comments

How Risk Managers are Using Technology to Enhance Risk Tracking

We easily live in one of the most exciting eras ever. The rapid pace of technological development we have experienced has went beyond anything that used to be possible. If you go back a century, the pace completely changes. Think about it  there would be a new notable technology maybe once a decade. The reason progress was so slow is simple – everything had to be done manually. All the calculations had to be done by hand, all the…


Added by Risk and Compliance on January 24, 2020 at 3:53pm — No Comments

Elements of Effective Compliance Management


Added by Risk and Compliance on January 2, 2020 at 1:00pm — No Comments

Regulatory Change Management Lessons From change Management

While regulatory change management and enterprise change management may be different domains, there is a lot that regulatory change managers can learn from enterprise change management. The basics of both remain the same, even if regulatory change is a bit more complicated to manage.  

Identify the nature of change 

In addition to failures related to…


Added by Risk and Compliance on December 27, 2019 at 11:48am — No Comments

The Advantages of Risk Management Software

There is an app for everything these days. People used to joke about how there’s an app for everything except for falling in love, but you can’t even say that anymore. Risk management, like everything else in our lives, has similarly been completely transformed by technology. What used to be a simple process that was done through noting down some…


Added by Risk and Compliance on December 17, 2019 at 5:00pm — No Comments

The Future of Audits and Audit Management


Added by Risk and Compliance on December 9, 2019 at 1:59pm — No Comments

Understanding the rise of Regtech

Since the 2008 financial crisis, private banks have been confronted with a growing flow of regulatory requirements relating to customer identification, the fight against money laundering, the fight against the financing of terrorism, prevention of corruption, compliance with tax compliance, etc. In other words, regulators require banking institutions an ever-deeper knowledge of their customers…


Added by Risk and Compliance on November 29, 2019 at 6:50pm — No Comments

Improving Regulatory Change Management in 3 Steps

Managing regulatory change is a major headache for businesses operating in industries where the regulatory framework fluctuates. The problem is that the regulations define what the business can and cannot do, and when they change, the business must change how it operates. This makes it difficult to make long-term plans and strategies, because there is always a risk that the chosen strategy may no longer be viable if the regulatory framework…


Added by Risk and Compliance on October 30, 2019 at 3:16pm — No Comments

Making Audit Management Simpler

Audit management can be a messy business because audit managers do not have the right tools. Most audit managers must use general-purpose software like Excel and Word to accomplish the task, which further complicated the matter. There are many strategies which can be used to streamline the audit management process and it is important for all audit managers to be aware of these strategies and tools. …


Added by Risk and Compliance on October 22, 2019 at 4:45pm — No Comments

The Perils of Regulatory Change Management

Managing regulatory change has long been a headache for businesses in heavily regulated industries. Managing this change requires quite an investment. The business must hire regulatory experts who can interpret the regulations and tell the business how it will need to change itself to comply with the changes. The problem is that this process can be rather slow and is error prone because it is being handled…


Added by Risk and Compliance on October 15, 2019 at 6:46pm — No Comments

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