Steven Minsky's Blog – March 2018 Archive (9)

VW in Need of Risk Management Rehab After Multiple Emissions-Testing Scandals Emerge

According to reports uncovered earlier this year, Volkswagen conducted diesel-emissions testing on…
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Added by Steven Minsky on March 27, 2018 at 5:00pm — No Comments

ESG Investors Target Facebook for Repeat Failures in Risk Management

Facebook’s market capitalization dropped as much as $60 billion after reports emerged that Cambridge Analytica, the data consulting firm used by the Trump Campaign, was given the data of around 50 million Facebook users without their consent.

The Cambridge Analytica scandal is the latest in a series of risk management failures that have plagued the social networking company, which has been grappling with its role in the…

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Added by Steven Minsky on March 23, 2018 at 6:30pm — No Comments

2018 GRC Market Report Emphasizes New Risk Trends: Reputation, Regulations, and Innovation

The Forrester Wave™: Governance, Risk, and Compliance Platforms, Q1 2018 evaluates and ranks the 14 most significant GRC platforms available, and LogicManager has been named a Leader! But beyond measuring the current offering, strategy, and market presence of GRC providers, the report also dives into the current risk climate.

As the report states, “Managing risk is…

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Added by Steven Minsky on March 20, 2018 at 4:31pm — No Comments

Theranos Charged With Massive Fraud: Building Boards On Skill Over Appearance

The Securities and Exchange Commission charged Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh Balwani with raising more than $700 million from investors through an elaborate fraud in which they made false statements about the company’s technology, business, and financial performance. 

The way I look at it, the board was either in…

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Added by Steven Minsky on March 16, 2018 at 7:00pm — No Comments

Tiger Brands Scandal: Fifth Failure Incites Public Outrage

This month, Tiger Brands, the major food conglomerate in South Africa, is entangled in a major scandal. 950 have fallen ill and 180 people have died from listeriosis, which makes this the biggest food-borne illness outbreak in history.

In the unraveling of this scandal, I see a proof point for two growing trends:

First,…

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Added by Steven Minsky on March 14, 2018 at 6:18pm — No Comments

Wells Fargo Sanctions Send Message to U.S. Banks: Boards Are Accountable for Risk Management Failures

The Federal Reserve’s unprecedented sanctions against Wells Fargo announced on…
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Added by Steven Minsky on March 12, 2018 at 3:06pm — No Comments

Vendor Risk Management Failure at J.M. Smucker Company is Likely to Hurt Sales, Revenue, and Company Value

With an effective enterprise risk management program, risks at vendor facilities would be uncovered and prioritized, and mitigations would have been put into place.

On February 16, 2018, the FDA…

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Added by Steven Minsky on March 7, 2018 at 4:20pm — No Comments

Managing Risk in a Global Trade War

The announcement by U.S. President Donald Trump that his administration would be imposing tariffs on foreign imported steel and aluminum threatens to send the U.S. and its trading partners into a global trade war.

Prices of U.S. domestic steel are up approximately…

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Added by Steven Minsky on March 5, 2018 at 9:00pm — No Comments

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