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[Editor’s Note: Organizations have become myopic with GRC solutions, and they can no longer see the forest through the trees. Our new series, brought to you by the LogicManager Analyst Team, will keep you up to date with real world examples of risk management failures, and how ERM could have prevented them.]

In the past few weeks, we’ve seen major automobile companies face huge product recalls due to safety errors, creating negative media attention and certain financial penalties. As a result, a

The Top-Quartile Performance Institute (TQPI) is recruiting master practitioners having 10+ years of executive-level experience to become members. Preference is given to those at the cutting edge of Finance, Process Improvement, Six Sigma, IT, HR, Operations Research, “C-Suite” Leadership, and other performance management disciplines. 

TQPI is a global community of transformation experts partnering to help people, organizations and each other achieve best in class. Globally, we have helped mid-si

April 2014 sees the beginning of a new era. An era of consequences, both intended and unintended, heralding a period of increasing centralized power, where understanding the strength of peers will determine success or failure. The month after the latest Comprehensive Capital Analysis Review (CCAR) results, as the Volcker rule becomes law and with single counterparty limits on the horizon, April will also reveal the much-anticipated fourth season of the fantasy HBO series, Game of Thrones (GoT).

G

Compliance professionals have it tough. While risk managers work in shades of grey (or often, red, yellow, and green), compliance officers are often asked to answer the more direct question: Do we meet this regulatory mandate?

While the task may differ, compliance professionals without enterprise risk management in their toolbox are at a significant disadvantage. Regulations are changing constantly, responsibility for compliance ranges from high level executives to analysts on the front line, and

The business world is now international. Because of the far reach of constantly improving technology, businesses can communicate and work with customers thousands of miles away in real time. This reality has led to the growth and expansion of international business school programs around the world.

Shawn O'Connor, writing on Forbes.com, reports that over the past five years, a higher percentage of MBA program applicants have chosen international business schools. Notably, many of these programs

Despite the global trends demanding that individuals take greater action to manage their personal finances, a huge number of retail customers fail to either seek or use professional financial advice. In the UK, a recent survey by Yorkshire Building Society found that more than one in four savers are finding it difficult to access or afford financial advice. In the wake of the implementation of the Retail Distribution Review (RDR) in the UK, most high street banks, and many financial advisers, wi

Risk Leadership: Driving Cultural Change through Engagement

So many people that  I meet for the first time from outside the risk profession have a very poor perception of risk management as a discipline.  They see it as a compliance activity at best and most see it as a handbrake on business.  Recently my wife described me to a new acquaintance as one of the fathers of modern risk management and the person turned to me and said, “So you are to blame!”

You and I know the value of risk management. 

Since Darwin’s Origin of the Species we have recognised how nature adapts to survive.  Modern humankind continues to adapt to survive while following these two innate risk management principles:

•    If it hurts us we learn and take action in proportion to the degree of pain.

•    The next time we face the same pain we are better prepared and we go back for more and either avoid the pain or at least find a way of working to a new pain threshold.

Why history keeps repeating itself is simple really. 

Customers? They’re more connected and empowered than ever. The result? Financial services providers need to focus on the creation of customer platforms that deliver a satisfying experience, as well as the services and products they need.

What do we mean by a platform? In short, a platform seeks to provide an experience that adds value to the user experience beyond a list of services and products. A good platform also increases long- term customer engagement by adding new features and experiences