reporting (19)

The Evolution of Governance Reporting


Dear Global Risk Community Member,

There are few people more central to how an organization runs than those responsible for managing the corporate record.

Yet, as organizations have become increasingly international, as they build complex subsidiary structures that need closer attention, and as the compliance burden and risk potential has grown, the roles of those responsible haven’t necessarily evolved.

Download “The Evolution of Governance Reporting” to discover how with robust reportin

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The banking industry is perceived as the most advanced in their understanding and implementation of risk management. Although banks have indeed made huge progress in risk management, two areas all banks can improve is the structure used in conducting their assessments to enable actionable and insightful strategic reporting.

8028296299?profile=originalI’ve found that the understanding and implementation of risk management is driven not by industry or size of institution, but rather by its people: boards, executives, their t

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The Highlights of IMPACT 2017

8028266261?profile=originalLogicManager recently hosted IMPACT 2017, our annual ERM conference where risk professionals gather to share their challenges, successes, and insights in the risk management industry. For two days, LogicManager users lead educational sessions on how they’ve made vast improvements to their various risk and governance programs, such as third-party risk management, compliance, audit, and more.

This year, we heard from a particularly diverse group of experienced professionals hailing from Boston to H

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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

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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

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Fraud Prevention & Financial professionals will join together to share cutting edge strategies and techniques to manage the growing area of fraud risk


New York, NY– April 29, 2015 marcus evans, the world’s largest event management group, will host the Fraud Prevention for Financial Institutions Conference on August 12-13, 2015 in New York, NY. This premiere forum will provide a dynamic environment for senior practitioners to: leverage intelligence and analytics to better understand behavioral

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What to Present to Your Risk Committee

The RIMS Risk Management Society (LogicManager’s co-author for the RIMS Risk Maturity Model) promotes the adoption of Risk Committees for organizations looking to formalize their enterprise risk management processes.

With more organizations adopting risk committees or similar governance groups, the question remains: What should risk managers present to their risk committee; or conversely, what should risk committees ask that their managers present to them?

Forrester Research, in their report on me

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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

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File an FBAR or Find Yourself Behind Bars

A few years ago the IRS offered a tax amnesty program for US citizens who failed to declare assets held in foreign bank accounts. This came on the heels of a highly publicized legal action against UBS. The IRS forced the Swiss based bank to turn over the account information of US citizens. The IRS was clamping down on tax evaders, exploiting the protection of Switzerland's bank secrecy laws to hide income and assets. The IRS was looking to determine if FBARs had been filed by the banks American
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RMORSA Part 5: Risk Reporting & Communication

8028228084?profile=originalHaving standardized risk assessments and well documented mitigation and monitoring activities will equip your organization with a lot of risk intelligence. The question becomes, how do you report all of this information to your board and communicate it to your commissioner in a way that demonstrates the value of your ERM program? First, risk managers must be able to demonstrate how risks across the organization roll-up to impact the Board’s strategic objectives; and second, ERM functions must tr

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Risk Dashboards

A recent debate between risk analysts on how to report risk, resulted in several suggestions but the discussion was reduced to comparing one chart type with another.  Reporting risk really needs to be more holistic and it should take in a wider perspective of alternate measures of uncertainty found in a firm.
Risk Dashboards achieve this end and we'll take a look at a couple of them in this blog [ CLICK LINK ] ...
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In November 2009 I contemplated  "Should Board Audit and Risk Committees be Separate?"  and today I question "Should a Board have a risk committee at all?"

In 2009 I concluded:

  • Management's responsibility is to identify, manage and report on risk with a predefined risk appetite which has been established in consultation with the oversight body, most commonly a Board of Directors or an Advisory Board.
  • The Board has an "assurer role" to provide stakeholders with assurance that management has done the
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Risk charting and bubble charts

Perhaps ten years ago, reporting risk profiles or organisational threats was a challenging thing to do for many risk analysts on the job and while the majority of risk reports were fundamentally ordinary, it became apparent quite quickly that a simple list of hazards was never going to cut it.

In this blog we look at an emerging era of risk reporting.

Click here to continue reading

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First, what is Sarbanes-Oxley (SOX) 404 compliance? It is the legal requirement for public companies that senior management state that their company's financial reporting is accurate. Sounds simple? The expense and the value are all in the execution. How is that done? Simply put, the flow of information from the financial reports themselves is traced and connected to the activities that generate that information and the resources that are depended upon to generate that information. That sounds l

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One approach for embedding a risk management culture across your enterprise is to develop a team of risk champions within your business. What should you expect of them and how should you equip them?


The answers to these questions are not straight forward. When you are dealing with cultural change the strategies that work best will depend on a myriad of elements that have occurred or will be occurring in your organisation. Here are some practical questions to ask yourself that will help you to d

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5 Steps for Better Risk Assessments

Risk managers are charged with ensuring transparency, alignment, and forward looking views throughout the organization.  The way this is achieved is through risk assessments. 

Successful enterprise risk assessments can be a powerful tool for board and management level strategic decision making by connecting business activities to goals and identifying the risks that threaten to derail these strategic objectives.  An unsuccessful risk assessment is little more than a form over substance activity t

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Join over 16 industry leading experts at the Hilton Times Square in New York City, NY from July 14-15, 2011. Venue information here:

This practical, hands-on event will enable delegates to benchmark their ERM strategies against their peers, and is a “must-attend” conference for banks to stay ahead of the game by developing a comprehensive ERM program.

Hear from:
PNC Financial Services Group
Bank of Montrea

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Risk Leadership: Risk Reporting - The Need to Know

A question often asked is how broadly or how deeply do we need to design risk reporting in our risk management frameworks. Of course there is no easy answer. Let me give you a short anecdote before I give you my usual few dot points on the topic.

I was at a UNSW Australian School of Business "Meet the CEO" forum featuring David Thodey, CEO of Telstra late last year. David was asked what his greatest issue was in managing such a large organisa

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In the wake of the financial crisis, banks are thinking more strategically than ever before about how to maximize value from their risk management programs. Risk Management has emerged as the clear choice for banks that want to gain a more advanced risk view and utilize the benefits of ERM to improve business performance in both the short and long term.Michael Fadil, SVP, Corporate Risk Management at SunTrust Bank is a speaker at the upcoming Enterprise Risk Management in the Banking Industry Co
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