compliance (106)

As a risk professional, you're under a lot of pressure to write documents. Maybe it's a methodology manual, validation report, or other document you’re expected to write for your regulator; a status report for the board; or even that very important email. Whatever it is, some of the following worries probably sound very familiar to you:

"I've got to write a report and I don't know where to start - what's the best way to do it?"

"It's taking me ages to edit this Word document - aren't there some cl

Read more…

8028244462?profile=originalBack in 2009, we blogged about the SEC’s decision to require board-level accountability for ERM. This decision was based on the conclusion that inadequate risk management allowed the regulatory failures that ultimately led to the financial crisis. As we wrote in that post, “boards are now required by the SEC to report in depth on how their organizations identify risk, set risk tolerances, and manage risk/reward trade-offs throughout the enterprise.”

That blog detailed an important ruling: it refe

Read more…

framework.jpgMany companies share some problematic habits when it comes to compliance. The worst of them is treating compliance like a checklist. In other words, thinking, “If we meet these specific compliance requirements, our company should run efficiently and securely.” While this is a simplified outlook, the point remains the same. Being compliant guarantees neither efficiency nor security, but failure to meet requirements can have long-lasting negative effects.

At LogicManager, we view compliance as the

Read more…

Here at LogicManager, we’ve spent a lot of time considering issues related to cybersecurity. To find a new way in which a cybercriminal has exploited electronic vulnerabilities, all you need to do is skim today’s newspaper, which will almost inevitably report a data breach or fraud-related scandal. An evolving set of threats means incident likelihood is increasing, and generally, cybersecurity risks have serious impacts – meaning such risks have very high inherent indices, or combinations of imp

Read more…

Volkswagen has been side-stepping environmental compliance standards by “programming some diesel-fueled cars to turn on emission controls only when being tested.” In the days since this discovery, Volkswagen has been hit with over 30 federal lawsuits and 40%+ decline in stock value, all stemming from the same source—poor Enterprise Risk Management.

In this case, poor risk management regarding their investment in diesel, without developing a mitigation plan for if the technology didn’t meet emissi

Read more…

CNN’s latest news headlines reads, “28 years for salmonella: Peanut exec gets groundbreaking sentence.” This story relates to the Peanut Butter Corporation of America’s (PBC’s) bankruptcy, and the largest food recall in the United States due to salmonella. Known as one of the deadliest salmonella outbreaks, the PCA’s case is linked to nine deaths on top of 714 affected and sickened. 

Stewart Parnell, PCA’s owner, received a 28 year prison sentence, while his brother and food broker for PCA, Micha

Read more…

This annual conference provides global tax compliance experts with insight on adopting an internationally accepted standard of tax transparency and compliance.

 

New York City, NY – July 29, 2015 marcus evans, the world’s largest event management group, will host the 4th FATCA and Global Tax Compliance Forum on November 4-6, 2015 in New York City. This year's conference will allow for the exchange of  valuable insights and strategies to implement new systems to manage reporting demands, create s

Read more…

The information explosion, the proliferation of endpoint devices, growing user volumes and new computing models like cloud, social business and big data have created new vulnerabilities. Data security is a moving target—as data grows, more sophisticated threats emerge; the number of regulations increase; and changing economic times make it difficult to secure and protect data.

Because data is a critical component of daily business operations, it is essential to ensure privacy and protect data no

Read more…

8028235682?profile=originalIn next couple of years there will be sweeping changes to existing Basel III Accord what will pave way for a new game changing regime called Basel 4. In obvious intent, the new Accord will raise risk-based capital ratio, revise risk weighting and move away from too much emphasis on model-based approach. One of key measures will be leverage Ratio.

It will stay ahead of 3% ratio as a front-stop measure. Another key measure will be balancing risk sensitivity with simplicity in the new regime. The Ba

Read more…

Interview with marcus evans speaker, John D. Rhea, Compliance Officer and Attorney, OGE Energy Corporation8028234058?profile=original

With the emergence of NERC’s new Risk Based Compliance Program come many unanswered questions and hesitations on how to move forward within a company’s structure. This recent launch has worried companies in utilities with security and workload concerns. Although the cons may weigh heavily, the Risk Based Compliance benefits companies with promoting a customizable audit.

 

John Rhea, Compliance

Read more…

Manage operational risk as a separate entity while budgeting for increased operational risk demands

 

New York City, NY– May 6, 2015 marcus evans, the world’s largest event management group, will host the Operational Risk Management Conference on September 16-17, 2015 in New York City, NY. This conference will bring together risk leaders to examine the exposures brought on by operational risk and how these must be accounted for in the business model, as well as focusing on techniques for demonst

Read more…

With the emergence of NERC’s new Risk Based Compliance Program come many unanswered questions and hesitations on how to move forward within a company’s structure. This recent launch has worried companies in utilities with security and workload concerns. Although the cons may weigh heavily, the Risk Based Compliance benefits companies with promoting a customizable audit.

 

Bob Case, NERC Compliance Manager at Black Hills Corporation recently spoke with marcus evans about key topics to be discussed

Read more…

Interview with William Meehan, Executive Director, Capital Markets Trading Compliance at CIBC

The Volcker rule was published in December 2013 by US regulators and requires banks with over $10B trading assets and liabilities to prove that they are not participating in proprietary trading through the reporting requirements. It is a new regulation which has limited guidance from the regulators, causing confusion among banks. At the current time, the main focus for banks is to better understand the V

Read more…

8028230091?profile=original

When we talk about probability and risk as they relate to healthcare they are two terms that often get confused and misused. In November 2014 I attended a National Press Club luncheon featuring Anthony Fauci, M.D., director of the National Institute of Allergy and Infectious Diseases (NIAID).[1] I attended Dr. Fauci’s lecture focused on the Ebola outbreak. As a Laboratorian and Health Educator there were many questions that I wanted to pose and gain knowledge on how the world was responding to t

Read more…

8028230091?profile=originalMost people think of Risk Management in terms of finance, insurance and business. In healthcare, Risk Management seeks out errors with the potential to cause human harm. Risk Management consists of identifying, evaluating, and controlling the risk of these potential errors through a variety of quality control measures that become your medical practices’ Quality Control Plan. Risk Management is defined in ISO 14971 as the “systematic application of management policies, procedures, and practices t

Read more…

Time to revisit rushed Dodd Frank compliance?

Implementation deadlines have been and gone but banks are still living in Dodd-Frank’s shadow. One of the issues is that best practice hasn’t yet been agreed: the regulators still need to clarify standards. This is leaving many fumbling around in the dark for the right route to compliance.

While the regulators iron out the standards, several financial institutions have cobbled together ‘half-way house’ applications so they can tick the compliance box. Some have even resorted to Excel for a quick

Read more…

8028229698?profile=originalStarting January 1, 2015, insurers across the United States are subject to a National Association of Insurance Commissioners (NAIC) model law requiring them to annually submit an Own Risk and Solvency Assessment (ORSA). ORSA is a self-assessment of sorts, requiring large and medium-size insurance groups* to report on their current and future risk management process.

ORSA Model Act outlines a few basic dimensions on which insurers will be analyzed. They include (1) effectiveness of risk management

Read more…

Why Integrate Risk & Compliance?

government-500x329.jpg?width=400Compliance professionals have it tough. While risk managers work in shades of grey (or often, red, yellow, and green), compliance officers are often asked to answer the more direct question: Do we meet this regulatory mandate?

While the task may differ, compliance professionals without enterprise risk management in their toolbox are at a significant disadvantage. Regulations are changing constantly, responsibility for compliance ranges from high level executives to analysts on the front line, and

Read more…

Anatomy of a Tax Audit

Its that time of year again.  April 15th looms ever larger as small businesses scramble to meet the IRS  tax filing deadline.  For many small businesses, tax filing is handled by a trusted accountant or business adviser. That tends to take the trauma out of this annual exercise in pain.  But even with the help of a tax professional the angst of the season is always a pressing concern.   
 
The enclosed infographic published by oBizMedia, displays some startling data about audit risk and its cost t
Read more…

RMORSA Series 1: Risk Culture and Governance

8028225684?profile=originalThe National Association of Insurance Commissioners adoption of the Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) requires insurance organizations to take a broader approach to risk management. As US insurers begin to mobilize their efforts to comply with the regulation by the 2015 deadline, it’s important for insurers to take a step back, leverage their existing risk management operations, and develop their RMORSA efforts with a mind to the future.

The groundwork for RM

Read more…

    About Us

    The GlobalRisk Community is a thriving community of risk managers and associated service providers. Our purpose is to foster business, networking and educational explorations among members. Our goal is to be the worlds premier Risk forum and contribute to better understanding of the complex world of risk.

    Business Partners

    For companies wanting to create a greater visibility for their products and services among their prospects in the Risk market: Send your business partnership request by filling in the form here!