Businesses began with Enterprise Risk Management (ERM) from the dawn of civilization. The first businesses were small and therefore one person knew all their customers, suppliers and processes. They knew all the risks within their business how they were connected to affect their business goals, which made it easy to manage both the upside and downside “impact of uncertainty on objectives”.
However, as the size of organizations grew in the industrial age, everyone became a specialist…Continue
Added by Steven Minsky on April 29, 2013 at 1:30pm — No Comments
Federal and state regulatory compliance requirements have grown exponentially and touch all operational areas. Compliance has become very complex and expensive with extensive new regulations, multiple overlapping information sources, and operational impacts that are difficult to identify and track. Financial Institutions typically manage compliance workflows…Continue
Added by Steven Minsky on April 2, 2013 at 2:00pm — No Comments