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In this interview we reviewed how 2020 changed what we do in Risk Management and Governance and what are themes emerging in 2021. The main topics discussed are - What are the key risk areas boards and managers are worried about and want more training on? - How delivery methods are changing and how to combine the remote delivery with high engagement. and more...
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Debunking the Myths of AI for TPRM

It’s no wonder many third-party risk management (TPRM) professionals are skeptical about the hype surrounding AI. Their very careers require them to be risk averse, and the technology has been associated with spectacular failures as well as successes, such as Tay, the chat bot that adopted racial slurs and inappropriate language from users.

The early failure of Tay underscores the most important success factor in deploying AI technologies such as machine learning and natural language processing.

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Security in the digital world is in demand for online financial businesses. This is because of the increasing number of digital frauds that are penetrating into the digital space at a high pace. The digital frauds are of many types. These correspond to financial crimes, a variety of credit card frauds, payment scams, and cyberattacks. The digital frauds include identity theft, account takeover fraud, and high-scale data breaches. Under these circumstances, there should be active security measure

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Fighting financial crime committed by political figures starts with identifying them. It’s easy to identify a head of state or key members of a legislature, but there are many politicians in the world who don’t claim a significant spotlight. Screening for politically exposed persons (PEPs) is a crucial part of a financial institution’s AML program, it’s incredibly challenging to get it right.

The lack of a universally agreed-upon definition for what constitutes a PEP is the first hurdle. The vari

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This is a transcript of our interview with Anastasia Dokuchaeva, Head of Partnerships at ClauseMatch.

You can watch the original video interview here

 

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Boris: Hello ladies and gentlemen and welcome to our interview with Anastasia Dokuchaeva. Anastasia is Head of partnerships at ClauseMatch, a regulatory technology firm which provides financial institutions, insurance, energy companies as well as the regulators with the modern compliance platform to transform the policy management and regulatory

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In the current global climate, financial crime is a more pressing issue than ever.

COVID-19, lockdown and the mass transition to remote working has created fertile ground for fraudulent activity in the UK. Needless to say, the pandemic has caused widespread panic, financial stress and business instability.

Recently, we’ve seen a rise in opportunistic fraudsters impersonating charities and government authorities in order to take advantage of the widespread effects on society.

In one instance, thousa

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This is a transcript of our interview with Zac Cohen, COO at Trulioo.

You can watch the original interview here

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Boris: Hello ladies and gentlemen and welcome to our interview with Zac Cohen. Zac is a Chief Operational Officer at Trulioo. Trulioo is a hyper growth Vancouver startup solving global identity challenges associated with international regulatory compliances, fraud, prevention and trust and safety online. Zac, thank you for taking your time and coming to our interview today.

 

Zac: It’

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This is a transcript of our interview with Jim Wetekamp, CEO at Riskonnect.

You can watch the original video interview here

 

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Boris: Hello ladies and gentlemen, and welcome to our interview with Jim Wetekamp. Jim is a CEO at Riskonnect, Riskonnect is a global leader in integrated risk management technology and the world’s largest risk information and system provider. Jim, thank you for coming to our interview today. Could you please tell me a short story about Riskonnect?

Jim: Sure, I appreciat

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This is a transcript of our interview with Sjoerd Leemhuis, Founder and CEO of Owlin.

You can watch the original video interview here

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Boris: Hello ladies and gentlemen and welcome to our interview with Sjoerd Leemhuis.

 

Sjoerd is a CEO and co-founder at Owlin in the Netherlands. Owlin is a text and news analytics tool that helps finance professionals monitor their professional portfolio proactively and continuously in real-time.

 

So Sjoerd, can you tell me a short story about Owlin and what

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Owlin Covid-19 Impact Monitor

Dear All,

Owlin wants to contribute in these turbulent times when it comes to leveraging Natural Language Processing (NLP) to inform the world on the key drivers of the COVID-19 crisis and therefore developed the Owlin Covid-19 Impact Monitor.

Most people are by now familiar with the Johns Hopkins COVID-19 Monitor, which looks into global daily cases and geographical spread of the virus. Many professionals, however, seek information on the material impact of events and consequences of this crisis.

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With many employees forced to work from home, it’s likely you’re facing new compliance risks & information security challenges as hackers strive to take advantage of COVID-19.

To help you mitigate these risks and educate employees who are working remotely, SAI Global has prepared a free 20-minute training exercise focused on data privacy, theft of company assets, misuse of company time, inaccurate reporting, and fraud. Click here to get a sneak peek or download the training to share with your

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The next logical trend in fintech and regtech is the ethics in its practice, according to Janine Hirt, COO and Board Member of Innovate Finance, in comments made on the new episode of the Regtech 20:20 podcast.

Specifically, as fintech and regtech development continues to accelerate, we must question “how we ensure that we maintain an inclusivity about the work that we’re doing”.

This is according to comments from Janine, who went on to draw reference to the ethics of exclusion via artificial inte

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Following A deep dive into how businesses can ensure they keep up with evolving sanctions regimes with Martha Kliss from UCB, a global organisation within the pharmaceutical industry, we’re continuing to examine the landscape – this time with a practitioner’s views and insight into implementing Anti-Money Laundering (AML) directives.

Olivia Tawadros is a Senior Analyst at UAE’s Financial Intelligence Unit (FIU), who was a key figure in the implementation of the goAML reporting platform, developed

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Combating Financial Crime for FinTechs

For me, founding NorthRow wasn’t just about the business opportunity, but a chance to make a difference to the devastating effects that fraud and other forms of financial crime can have on individuals and companies.

Witnessing the corrosive effect of fraud on a family business was a key inspiration and I’ve embraced the opportunity to use my background in software, data and business to found a venture that now digitally transforms clients’ onboarding and monitoring processes, helps prevent fraud

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When SAI Global founded Compliance Officer Day in 2016, we were in the midst of significant changes to the compliance discipline and the roles of the professionals dedicated to it. The speed the industry has evolved since can be surprising even to those closest to it. 

With changing regulatory obligations and shifting societal expectations, the role of the compliance officer has become a multi-dimensional challenge. Not only has the skillset of compliance officers grown in tandem with the velocit

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In short, yes. It doesn’t matter who you are or where you sit in an organization, EVERYONE is responsible and accountable for risk-based thinking.

Businesses today face increasing levels of complexity and risk. Organizations are under pressure to deliver profitable business outcomes while operating in a socially and environmental responsible way. 

According to a study conducted in 2019 by the American Institute of Certified Public Accountants, 59% of respondents perceived a significant increase in

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This is just a quick reminder to share with you about the VIP invitation to the 
Mastering Operational Risk Course  http://globalriskacademy.com/courses/orm

We've got many questions about this course so I wanted to answer them here before we run out of the 100 licenses limit for the RISKID tool for this year.  
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Q: “Does this course include only theory?”

A: Absolutely not. You will learn many practical skills which you can apply immediately, for example, on how to conduct RCSA or Risk Self As

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This article is contributed by William G Ferrell, CIO of Ferrell Capital Management and the author of a new course on Global Risk Academy - "From Asset Allocation To Risk Allocation"

There is a lot to cheer about on Wall Street.

- Equity markets have performed well, particularly since the controversial US election.

- Earnings have been climbing

- Volatlity is low

- Demand for credit has increased the velocity and cost of money/return on cash

As always, investors are haunted by the “What’s ne

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On company’s risk dashboard, the signal for operational risk should be flashing red. Over the past ten years, losses from operational risk have soared. Companies that want to achieve a sustainable and profitable business need to focus on building a framework to manage operational risk.

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What Is Operational Risk?

 

Operational risk summarizes the risks a company undertakes when it attempts to operate within a given field or industry. Operational risk is the risk not inherent in financial, syste

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With FCPA enforcement rising and 75 percent of foreign bribery schemes executed by third parties, outsourcing can create regulatory and reputational risks that should not be ignored.
Make a business case to your senior leadership to get the budget you need and prove the ROI of an efficient, automated third-party risk management system.

This white paper will help you demonstrate how your third-party risk management system should:
• Align to legal & regulatory guidance
• Break down departmental bounda

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