operational (56)

The most resilient and consistently successful companies have discovered that the devil is in the details of the organization. No pic-1-Organizational-DNA-4-Building-Blocks-300x200.jpg?profile=RESIZE_710xcompany may ever totally master the enigma of execution. But for them organizing to execute has truly become a competitive edge.

Execution only becomes effective when the company’s DNA is holistically integrated. This means weaving intelligence, decision-making capabilities, and a collective focus on common goals widely and deeply into the fabric of the organization so

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Post-merger Integration is a highly complex process. It requires swift action as well as running the core business activities pic-1-Post-merger-Integration-PMI-Integration-Checklist-300x200.jpeg?profile=RESIZE_710xsimultaneously. There is no one-size-fits-all approach to a successful PMI Process. However, careful planning focusing on the strategic objectives of the deal and the identification and capturing of synergies will help maximize deal value.

Because of the complexity of the PMI process, it is of utmost importance that organizations—both the Buyer and Target, the integration

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Peter Drucker, one of the first managerial thinkers, introduced MBO or Management by Objectives. This eventually paved the way for pic-2-Objectives-and-Key-Results-300x200.jpeg?profile=RESIZE_710xthe birth of the Objectives and Key Results (OKR) management philosophy. Andy Grove, known as the “Father of OKRs”, introduced the approach to Intel during the 1970s. This was further popularized by John Doer by introducing OKRs at Google in 1999.

Today, successful organizations are now using OKRs.  Objectives and Key Results is an efficient way to track company and t

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When things go wrong on a grand scale, often we direct our attention to the role of the Board. Debate exudes and often gets heated uppic-1-Long-term-Mindset-300x200.jpeg?profile=RESIZE_710x and intensifies. This often happens when the Board spends more time looking in the rearview mirror and not enough scanning the road ahead. When this happens, governance suffers.

Often, the Board of Directors spend a bulk of its time on quarterly reports, audit reviews, budgets, and compliance.  However, with the change in the business environment, there is a greate

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Inspiring breakthrough innovation in business models and solutions is becoming critical for organizations’ existence, as startups through their innovation have been consistently disrupting large organizations globally. To foster innovation, the key ingredient is creating an organizational culture that encourages innovation in all spheres. Every organization, today, aspires to nurture a culture of innovation where employees are motivated to take initiatives that result in the creation of innovati

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Complimentary Financial Risk and Regulation Publication – Written by the Industry, for the Industry…

 

Risk Insights Magazine, Issue Eight (70+ pages of articles, interviews and video insights).

 

Issue Eight features insights on:

Technology Innovation | Regulatory challenges | Vendor & third-party risk | Operational risk | IFRS 17 | Liquidity risk.

 

With authors from the industry’s leading Financial Institutions, including:

Prudential | UBS | HSBC | Nordea | Barclays | National Fraud Intelligence Bure

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By Daniel Nunes-Vaz, Senior Research Executive, Center for Financial Professionals. 

 

In recent years operational risk has grown as a discipline and is now viewed as an integral aspect of any risk management department. This is predominantly a consequence of the most recent major financial crisis where the management of operational risk was partly blamed as a significant contributory factor in the collapse of global markets. Since then, the risk management and operational risk landscape has chang

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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

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marcus evans will host the 4th Annual Proactive Operational Risk Management Conference, February 5-7, 2018 in New York, NY. This conference will enable institutions to better evaluate their operational risk programs so as to understand its value and how to improve. Delegates will gain knowledge on how to better identify and manage significant and emerging risks such as conduct risk and fraud, how to clarify responsibilities across departments and 3LOD and they will examine the regulatory environ

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Enterprise Risk Management (ERM) is an approach prescribed to manage and balance organization's risk with their objectives. It looks to provide a strategic overview of an institution and their risks. Since the global financial crisis, institutions were criticized for their apparent siloed approach to risk management, failures to bring each area together for a holistic overview of risk to manage within its risk appetite. ERM provides a central risk function to improve an institution's coordinatio

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Author: Richard Pike, Non Executive Director, Permanent TSB

“Without data you’re just another person with an opinion” W Edwards Deming, Data Scientist

 

“Reports should be easy to understand yet comprehensive enough to facilitate informed decision-making. Reports should include meaningful information tailored to the needs of the recipients”

BCBS 239

This is a very true statement, however it can equally said that too much data with too few opinions is equally ineffectual. Therefore the balance between

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Ruben Cohen is an operational risk consultant. He has been working in the financial industry for over 17 years, with most of the last 10 in operational risk analytics at Citi.
Prior to that, Ruben spent 10 years on the faculty of Mechanical Engineering & Materials Science at Rice University in Houston, specializing in Fluid Mechanics and Thermodynamics. He holds a Ph.D. in Mechanical Engineering from M.I.T. and has subsequently obtained an M.A. in Economics from McGill University.
Ruben is based

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8028254065?profile=originalOperational risk management is currently on the end of a major shakeup. Ever since the announcement of Basel III banks have been working within a paradigm that pushes towards either TSA or AMA approaches (standardised and advanced approaches respectively). At the end of 2015, however, the Basel Committee shocked firms by announcing that they were doing away with this, and replacing it with the SMA – a new standardized approach that would be the norm for all banks. This is having huge ramificatio

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Heavy reliance on systems and technology exposes firms to higher levels of risk and threats in this area due to these threats constantly changing. Hence, it is important for organizations to equip themselves with up to date with IT and cyber threats, along with ensuring a strong fraud management program in place, managing outsourcing and third party risk and keeping up with the regulatory expectations.

Representatives from established financial institutions and associations are joining hands to b

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The Insurance industry is facing extensive operational challenges with disruptive market and consumer changes leaving insurers with no choice: innovate or die.

 As a result, many are undertaking a complete top-to-bottom transformation. One such U.S insurer is Liberty Mutual, who are exploring new ways to automate and operationalize to transform their processes.

PEX network spoke to the Director or Special Projects – Process and Technology, Sidharth Grover, to find out what he and his team are look

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3 OpEx Pillars for Insurance Firms

Ahead of the Operational Excellence for Insurance summit in Hartford, Connecticut, October 17 - 19, 2016, we’ve brought together three thought leaders to detail a key pillar OpEx best practice each to successful operational excellence and transformation.

Three thought leaders detail a key pillar of OpEx best practice each.

PILLAR 1: Creating the Right Operational Excellence Framework - John Martino (Aetna)

PILLAR 2: Communicate Change Management Enterprise-wide - Angie Kennard (Marsh)

PILLAR 3: Stri

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As customers demand more, the insurance industry has to listen or lose out. An effective voice of the customer programme (VoC) will not only create an environment for continuous improvement, but also provide a competitive advantage in an increasingly crowded market. With more insurance companies conducting their own customer research, PEX Network spoke to Lisa Schilling, Vice President, Health Care Performance Improvement, Kaiser Permanente, about bringing the voice of the customer into the hear

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Ahead of the 3rd Annual Operational Excellence in Insurance, the PEX Network caught up with key speaker Allstate's CI Methodology Lead, Howard Grunwell to get a snapshot into how the company is responding to customers' changing expectations and transforming the customer experience.

Download the full interview here

To uncover more tips, tactics and ideas about operational excellence and transformation, plus hear more from Howard and our expert speaker faculty, join us at the 3rd Annual Operational

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Who is attending OpEx Insurance 2016?

The response from the market to this timely meeting has been exceptional, with a number of the most senior Opex insurance professionals confirmed to attend.

If you’d like to see the full list of attendees please download here.

This is the only conference that takes a deep dive into the operational challenges facing the Insurance Industry. With new entrants and changing customer expectations on one side, and decreasing investment returns on the other, Insurers must make a choice: innovate or fall b

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Are You Ready for Digital Transformation?

Digital transformation means providing all our clients the possibility to interact with us via the channel they want, when they want. As a client experience leader, we will follow the client journey across all interaction channels”

You think you are ready for the digital transformation, but do you have the right foundation in place? Having a clear performance framework is the starting point for a successful digital transformation journey.

Ahead of the PEX Network’s 3rd Annual Operational Excellen

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