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The GDPR is the strictest set of data protection rules any nation has published, featuring some of the most severe penalties connected to data privacy seen yet. Now that the compliance deadline has passed, we started to wonder about GDPR readiness. How are companies stacking up to the new regulation?

We compiled a host of GDPR statistics to answer that exact question, alongside some quick facts about what this new regulation is asking of international companies. 92% of US-based multi-national com

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

It is a slightly cryptic clue. I love the way you just have to have a peak at my blog when I come up with an interesting enough title! I’ll give you a bit more of the clue. She played Belle in the movie Beauty and the Beast. Now to my point.

marcus evans will host the 2^nd Annual Interest Rate Risk in the Banking Book Conference on December 5-7, 2018 in New York. This conference will give banks the practical insight to optimize their interest rate risk management strategies in an uncertain economic environment. Firms will gain insight into the regulatory priorities and concerns surrounding the proposed IRRBB regulation in order to streamline their strategies to position themselves for compliance. Delegates will also advance their ALM

Your stand-alone third-party risk management platform delivers significant value by centralizing risk-related processes, standardizing workflows, and capturing key documentation for due diligence and regulatory compliance. 

But your third-party relationships don’t exist in a vacuum. By integrating your platform with other systems, you can augment your risk management process with richer data and extend its reach across your business — without increasing your workload.

Read Automated Integrations f

While vaccines create antibodies to protect you from influenza, antivirals tackle a flu virus once it has overcome your defences. 

When it comes to influencing the business, all support functions suffer from some form of INFLUENceENZA. It is when the business looks at the support function and perceives its policies and processes as red tape rather than the valuable business enabler they are. Unfortunately too many support functions in the past have generated useless red tape and have caused these

Criminals have a reliance on tricking victims to get access to account information, like passwords. This is known as social engineering, and is also called a “confidence crime.” These come in many forms:

Do Not Take the Bait of These Phishermen

• A phishing email that targets a specific person is known as spear-phishing. A spear-phishing email looks like an email that might come from a legitimate company to a specific person. For example, a thief might send a fake email to a company’s employee who h

Risk management in the insurance business is a bit of a head scratcher. On the one hand, insurance companies are selling what many people consider to be a risk mitigation. On the other hand, insurance companies themselves face a variety of risks they need to mitigate.

Let’s briefly consider a misconception about insurance as it pertains to risk management. Too often, people think insurance is a sufficient, catch-all control activity. But while insurance is a perfect way to protect a business from

The insurance industry is entering an age of disruption and digital transformation. Bespoke products and personalized outreach will soon be the new norm, and insurance carriers will see pivotal changes powered by AI solutions.

With new technologies enabling both operational efficiency and a superior customer experience, from artificial intelligence to drones and mobile customer communication methods, we are proud to announce that nominations have opened in 2018 Insurance Nexus Canadian Awards. T

Operational risk and its supporting software play a critical role in an organization; but how can its activities add value along the way?

Have a look at the White Paper: Operational Risk and Supporting Software and learn from recent trends in operational risk, risk management and GRC software to support risk identification, assessment, consolidation, and more.

==>  Learn more

What are your thoughts on this topic? Please share in the comments

Last week I wrote that to be as persuasive as you can be, you should stop pushing and start pulling. I took Robert Cialdini’s six principles of persuasion, reworded and rearranged them a tad and then put them in a hierarchical order of persuasiveness.           

                                                                                                             Cialdini's Six Principles of Persuasion - Reworked

In my book, Winning Conversations: How to turn red tape into blue ribbon, I te

Michigan State University has employed a new Chief Compliance Officer in response to the Larry Nassar scandal. By creating an Office of Enterprise Risk Management within the university, MSU is getting on the right track.

Earlier this year, former MSU doctor and USA gymnastics coach Larry Nassar was charged with sexually assaulting 332 students. Shortly after this story broke, Michigan State was embroiled in two other sexual harassments scandals and has since struggled to escape the spotlight.

MSU’

Research Briefing: Key Decisions to Create an Attractive Ecosystem

By:

Weill, Sebastian, Woerner; Apr 19, 2018

Source: MIT CISR

The next five years will be critical for large companies to create successful Ecosystem Driver business models, at least for their best customers. MIT CISR research shows that the Ecosystem Driver model is the highest performer of the digital era to date, but it is also challenging to pursue.

In this briefing, we describe seven key decisions around design dimensions that wil

I once ran a chemical plant for what was then ICI. I was a shift supervisor at Rhodes in Sydney, a zone now redeveloped as a major shopping and residential apartment area. The world changes, and so have I.

When you run a continuous process chemical plant, the money is in keeping it online 24/7 and running as close to maximum production as you can. In those days, when the pressure was on my style was much more ‘push’ than ‘pull’. ‘Move on this quickly, please!’ in a loud voice. Of course, contract

Back in March, President Trump’s administration threatened to impose steep tariffs on imported goods from some of America’s biggest trading partners. In the following months, the administration set a 25% import tax on steel and 10% on aluminum. Just as I predicted, these decisions are impacting the supply chains of American businesses, forcing them to consider the effects this kind of tumult could have on their business.

In my first blog post on the subject, I detailed a few direct and indirect c

A Message From Our Partner

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To influence you must build trust. Here are some ideas on how you can assess the level of trust perceived by those you wish to influence.

My thanks to Didier Verstichel from Belgium for his reply to a recent blog of mine, where he gave me the trust formula he uses (he doesn’t remember the original author):

The trust formula I am more familiar with is from the book The Trusted Advisor by Maister, Green and Galford:

Above the line both formulas are saying similar things. You are perceived to be trust

Read this article to know more on How Behavioral Biometrics is Paving the Way to Less Fraud, Less Friction and More Functionality.

In This Research, You'll Learn

• How to balance the need for security and enable a good user experience in the digital channel
• What are the latest techniques that fraudsters are deploying to attack the insurance sector online
• What leading financial services institutions are doing about to manage the next generation cyberthreats

Digital Transformation In Insurance I

A Message From Our Partner 

The rapidly changing regulatory, governance and economic environment of today’s business world calls for accurate, secure and solid data. While this leaves little room for error, businesses often find themselves drowning in missing, inaccurate or sloppy data that could jeopardize their competitive advantage and compliance efforts. 

When companies employ robust technology that connects data, data management and data analysis, they are able to build a coherent data fra

Recently I ran my Risk Leadership training for a client and I had a room of participants that arrived with an extremely poor perception of risk. My role was to convince them of the value of risk and to have them leave the room with definitive actions agreed as to how they will derive that value.

The atmosphere in the room was extreme distrust. They were certain I was going to waste their time. After all, as they soon told me, they manage risk every day. That is their job. Why the extra processes