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management (362)
Don’t assume you’re immune from this European regulation with huge fines
All may be relatively quiet on the regulatory front in the U.S., but this May new privacy regulations are taking effect in the European Union, which will likely impact even the most provincial U.S. financial institutions.
The E.U.’s General Data Protection Regulation (GDPR), approved in April 2016, is much broader than the U.S.’s most well-known privacy regulations, the Gramm-Leach-Bliley Act (GLBA) and the Health Insurance P
There may be 50 ways to leave your lover, but when it comes to ending a relationship with a vendor there’s really just one path to follow: the documentation in your service level agreement (SLA).
Financial institutions find themselves ending vendor relationships for many reasons. Sometimes the relationship is great, but the product or service no longer meets the institution’s needs. Maybe another vendor is just better. Or maybe the vendor wasn’t meeting expectations.
The Contract
Regardless of t
When risk increases, the natural response is to take action to reduce that risk. But not every increase requires action. In fact, it may distract you from more important issues.
I’m talking about the risk of treating every risk the same.
Astute observers of risk have a variety of tools to monitor risk, from near real-time indicators to audits, exams, and reviews. But it’s not enough to recognize that risk has increased. Its ultimate impact must be considered.
For example, a review might show that e
With the General Data Protection Regulation, the EU is taking privacy very seriously. They expect the same from you – and your third parties. How are you preparing your Vendor Risk Management program to handle these sweeping changes?
Join ProcessUnity for a 45-minute webcast on Wednesday, April 18, 2018 at 11:00 AM EDT and see how forward-thinking organizations are incorporating GDPR best practices into Third-Party Risk processes. Our team of experts will:
- Outline GDPR requirements as they pertain
Banks are on a quest to improve the customer experience. A new study of 80 North American bank operations leaders by Accenture found that 74 percent believe the customer experience is one of their banks’ greatest strategic priorities.
Number two on the list: Fraud and risk management (70 percent of respondents).
Why not do both at the same time? About half of survey participants predict bank operations’ “primary role in three years as achieving straight-through processing through digital technolog
marcus evans will host the 12th Edition Model Risk Conference on June 25-27, 2018 in New York. This conference will provide firms with practical tools to enhance infrastructure capabilities and improve model lifecycle management, in order to foster faster responses to changing regulatory demands. Attendees will explore best practices for employing advanced analytics and improving quantitative capabilities to help further optimize model validation techniques. Finally attendees will evaluate the C
There is temptation in the world of management. With regulatory scrutiny increasing and cost a concern, free vendor management checklists seem like an easy solution. But is that free checklist going to cost you down the road?
My experience says yes.
Free vendor management checklists are a disaster waiting to happen. From misclassifying vendor risk and misallocating resources to failing to provide an actual process for execution, vendor management checklists lack the nuance needed to help an instit
Competition and Business Strategy in
Historical Perspective -Harvard Business
School Note
I taught this course at IFAG, Lyon, France, back in 2009 as part of a Fourth Generation Management course (the Deming Philosophy of Management) to national (French) and international students from all over the world.
This course presented a nice summary of competition and business strategy in historical perspective so that the students can understand the evolution of business and management ideas that shaped
An interesting post for anyone talking internally with their team on building a homegrown solution versus purchasing a solution to streamline Third-Party Risk Management. Of course, it's written from the perspective of a software vendor (that's what we do) but the benefits of having a voice in the discussion of what goes into the next generation of a product as a customer in a community of like-minded individuals or knowing that multiple times a year new features will be added can influence this
As you likely know, GDPR (the EU’s new General Data Protection Regulation) takes effect in May 2018. Are you ready? If your organization stores or processes EU citizen or resident personal information – any information that can be used to directly or indirectly identify someone – you need to know about GDPR.
But did you also know you that you are responsible for the personal data managed by your third-party vendors? Enterprises are responsible for the EU personal data managed by their own third p
Salesforce: Is The Market Turning Negative On Salesforce? Are there any leading indicators, risk alerts and developing trends?
Are sales increasing at a faster rate than value creation? Is the value generated by the sales of the SIMMETHOD Best In Class increasing at the same time that the value generated by Salesforce’s sales is decreasing?
“Salesforce – Overvalued and not significantly diversified” Erik Huckle, Seeking Alpha
“Salesforce: One of the better software companies on the planet but perha
Boris Agranovich has kindly asked me to offer my free course for you to browse, or to take, over the holiday period.
MAGIC
The course will change your entire understanding of modern economics and risk management.
- It is a paradigm shift in both subjects.
- Essential reading for anyone in the financial services industry.
It is no co-incidence that following an article which I had published at www.fin24.com where I am a columnist, my prescription for the South African economy was circulated to the entire
How to improve your 2018 predictions and outcomes? What happens when you are invested into your customers risk and performance?
According to Wikipedia, “A prediction or forecast is a statement about an uncertain event. It is often but not always, based upon experience or knowledge”.
Based on the SIMMETHOD Best In Class, in business strategy execution, the best way to predict the future is to create it via the 7 Laws of Growth, Value Creation and Best In Class Performance and the C-level Risk Alert
The Compendium of Evidence on the Effectiveness of Innovation Policy Intervention Project in the stewardship of Manchester Institute of Innovation Research (MIoIR), University of Manchester has revealed some interesting facts about Regulatory Change Management. There have always been mixed opinions about the importance of regulations in the industries and people are unable to come to a consensus. In order to get some clarity and ascertain the impact of regulations on organizations, an endogenous
The 7th Edition Third Party Vendor Risk Management for Financial Institutions Conference will bring together leaders involved in vendor risk management, procurement, data security, and contract management to apply practical strategies to evolve your current third party oversight program. Learn best practices in managerial strategy from industry leaders to streamline third parties with your business goals, ensuring the development of holistic governance strategies. Furthermore, maximize your due
Converting your business intelligence, CRM and analytics software into your customers risk and performance improvement platform of choice
In the outcomes digital economy you need to deliver results rather than products and services but most business intelligence, CRM and analytics software were designed as a tool unconnected to your customers’ risk and performance
From products and services to intelligent digital outcomes: when your products and services help your customers to become Best in Class
For more information, contact: ExL Events FOR IMMEDIATE RELEASE
Phone: 866-207-6528
Email: registration@exlevents.com
“Ply Emerging Technologies and Effective SOPs to Enhance Regulatory Compliance and the Quality of Your Safety System”
ExL Events is hosting the 4th Adverse Events Reporting and Safety Strategies Summit on December 4–5, 2017 at the Sonesta Philadelphia Rittenhouse Square in Philadelphia, PA.
This summit will offer an in-depth analysis of real-world dat
It has been my pleasure to work with William G. Ferrell, CIO of Ferrell Capital Management to produce a new online course "From Asset Allocation to Risk Allocation". This course provides valuable insights into a new paradigm for managing investments - based on dynamically monitoring statistics related to Risk, rather than simply creating a diversified portfolio and hoping for the best. Bill uses the analogy that this is like using Doppler Radar rather than the Farmer's Almanac to predict the w
No matter how cautious a business organisation runs, mishaps and accidents like fire happen. Due to its unpredictable nature, even places confirming to fire safety standards sometimes face heavy destructions in terms of loss of property and life. Fire insurance, therefore, becomes essential for your business. Below is the , as stated by the Economics Times:
Standard Fire & Special Peril Policy: As quoted by the Economics Times, “Fire and special perils policy is an insurance contract that safegua
