risk management (110)

 

As we enter 2024, the landscape of Enterprise Risk Management (ERM) for financial organizations is transforming significantly. In the aftermath of global disruptions caused by wars and the pandemic, coupled with rapid technological advancements, ERM has come to the forefront of strategic planning and operational resilience. Financial organizations are now tasked with navigating a complex web of risks, from cyber threats and regulatory changes to environmental, social, and governance (ESG) conc

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As we step into 2024, the landscape of Enterprise Risk Management (ERM) continues to evolve, shaped by persistent global uncertainties, technological advancements, and the ever-changing business environment. The importance of a robust risk management solution has never been more pronounced as organizations worldwide strive to navigate these complexities. New challenges and opportunities have prompted a significant shift in how businesses approach risk management, transforming it from a defensive

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Financial organizations face many challenges and risks in today's complex business landscape. The traditional methods of handling risks are no longer sufficient to ensure the sustainability and growth of these institutions. This is where Enterprise Risk Management (ERM) comes into play as a comprehensive risk management solution. ERM provides a structured and holistic approach to identifying, assessing, managing, and mitigating organizational risks. By implementing an effective ERM program, fina

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Corporate governance expert Nigel Kendall underscores the urgency for boards to build resilient enterprises in today's volatile business landscape, emphasizing the fiduciary duty beyond profitability. His insights explore the holistic approach to governance, linking ethical culture and adaptable business models, while drawing on case studies like Carillion and Wirecard to stress the consequences of negligence.
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In a global effort to combat financial crime, the European Union is on the brink of establishing the groundbreaking Anti-Money Laundering Authority (AMLA). This article delves into Ireland's strategic bid to host AMLA and the transformative impact it could have on the European financial regulatory landscape.
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Understanding the role of corporate culture in risk management is crucial for the effective implementation of an enterprise risk management solution. It's not just about the policies and procedures; it's about how these elements are rooted in an organization's daily operations. This blog explores the thoughtful impact of culture and governance on risk management, underlining the importance of an enterprise risk management platform in reinforcing a strong risk culture.

The Impact of Culture and Go

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On 30 November, Data Protection Day is celebrated around the world. Every year the task of data protection becomes more and more critical both for businesses and users themselves. In this November digest we gathered interesting and illustrative incidents related to data leaks, fraud and hacks.

A phishing incident 

What happened: Hilb Group was hit by a phishing attack that resulted into leak of 80,000 customers’ personal and financial data. 

How it happened: On 2 November, Hilb Group Operating Comp

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In today's uncertain economic landscape, companies face numerous internal and external risk factors that can impact their ability to achieve their goals. This collective set of risk factors, known as Enterprise Risk, is the primary source of uncertainty in any business.

The efficiency of a company's business management is deeply linked with how well it manages its business risk. Hence, an enterprise risk management solution is crucial for companies to navigate uncertainties, make informed decisio

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12264168085?profile=RESIZE_710xGreater emphasis should be placed on the procurement function than it presently does in the majority of organizations.  A considerable number of procurement-related administrators are deficient in the requisite knowledge and perspectives to discern deficiencies and efficiently manage the function.

In this age of swift fluctuations in supply and demand, intense competition, constrained materials and resources, political instability, and failure to concentrate and enhance critical capabilities is a

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Different phases of organizational development exist.  Some reach maturity and then decline with time, whereas others simply vanish during the initial phase.

However, few businesses are able to avoid bankruptcy and sustain long-term growth.  They continue to amaze consumers with their innovative products and services.  They accomplish this by devoting resources, investment, time, and effort to the development of novel ideas, testing and cultivating these ideas, and discarding obsolete products.

Mc

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Hello Global Risk Community member,
Keeping up with compliance obligations is a full-time job. Chances are that your company’s risk appetite for non-compliance is zero or close to it. Failure can result in financial penalties and other negative consequences. There’s a great deal at stake. But how can you accomplish both – compliance and compliance risk management?
Protecht’s new eBook provides the actionable guidance you need to succeed.
Download the Compliance and Compliance Risk Management

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Hi Global Risk Community member,  

What does Governance, Risk Management and Compliance management look like across your business? Organizations will often approach GRC as a compliance band-aid rather than truly integrating it into their business. The lack of internal control management opens the door to heightened risk exposure. 

Join Fastpath host, Frank Vukovits, Principal Evangelist, and guest Michael Rasmussen, GRC Analyst and Pundit at GRC 20/20 Research for an upcoming Fastpath webinar:  

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Policy and procedure documents form the foundation of every business, offering a structure for uniform operations, regulatory compliance, and employee direction. These manuals outline the guidelines, obligations, and procedures that control several facets of an organization's operations. Managing policy and procedural documentation in significant or complicated businesses can have major difficulties.

Traditional approaches to document management, including shared network drives or manual filing s

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Risk management has become a critical component of every organization’s strategy in today’s challenging corporate climate. Organizations must be able to detect, analyze, and manage risks to preserve their resources, credibility, and the bottom line. Predictive analysis is one approach that has become prominent in the past few years. Predictive risk intelligence analysis could help enterprises foresee and mitigate prospective risks prior to their materialization with risk insights by examining hi
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Financial institutions encounter an enormous volume of papers every day in the fast-paced environment of today. These records are essential for several processes, such as risk management, compliance, auditing, and customer onboarding. However, managing the life cycle of these papers effectively can prove challenging. Financial institutions run the risk of ineffectiveness in operations, regulatory non-compliance, and data violations if they need adequate management and structure.

To handle these

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Vendor risk management (VRM) is vital to any company's comprehensive risk management approaches. It entails evaluating and controlling the risks related to third-party suppliers and vendors a firm depends on to run its operations. As businesses' dependence on third-party suppliers grows, they require efficient and effective strategies to identify, evaluate, and mitigate the risks linked to these relationships. Here is when vendor risk management software comes in handy.

Vendor risk management sof

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