Since the Sarbanes-Oxley Act (SOX) of 2002, banks have re-established their reporting process to avoid unnecessary penalties. They have also repurposed their operations to reap SOX attestation and compliance benefits. The latest approach that SOX brings to banks is the trust level created in the market. For the banks that plan to go public, SOX brings a significant hike to their IPO.
Despite the initial costs of the internal control mandate, the evidence shows significant benefits to banking sy
Whether or not your organization develops software, it’s likely exposed to the risks of vulnerabilities buried deep within code.
Gregory Vial
One of the key ways software development organizations drive efficiency is by drawing on libraries of existing, reusable software components when creating their own software products and services. This helps accelerate digital innovation, but the advantages come with a trade-off: Organizations acc
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With widespread Disruption consistently causing serious risks to the technology infrastructure and Operating Models of organizations, it is an unremitting challenge for senior management to set up a business that is proficient at introducing products and services that are in accordance with consumer needs and of highly desired utility. This can be actually achieved by obtaining the competencies crucial to create top quality, difficult-to-replicate products.
The collective organizational knowledge
Mere days before Lemoine set the internet on fire with discussions about the possibility or impossibility of AI singularity, another AI expert made the news with the prediction
Appetite is the “A” word. For many it is a vexed issue (see last week’s blog on the benefits of a Risk Appetite Statement).
Operationalisation is the process of translating the board and executive’s appetite for doing business. As is the preference of some, it will be through financial delegations and rates of return on investments, as examples. While many things can be expressed in financial terms, not all can. Even though a project might meet a hurdle rate, it doesn’t mean the whole concept tur
The temperature of key vehicle components is monitored and maintained by the automotive thermal system. It governs the temperature of various vehicle components, such as the motor, battery, and cabin, to enhance effectiveness, fuel economy, and comfort.
Automobile manufacturers across the entire globe are developing electric and hybrid vehicles. Several manufacturers have begun to produce electronic systems such as electric chillers and battery cooling devices in the context of electric vehicles.
ATAL Tinkering Labs (ATL) are dedicated workspaces where students can give shape to their ideas through hands-on do-it-yourself approach. ATLs enable students to work with tools and equipment to create prototypes and working models, learning basic STEM (Science, Technology, Engineering and Mathematics) concepts in the process.
. Students have access to all the tools, materials and resources they need to explore, discover, invent and create. The ATLs are also places where working together to solve
According to ChemAnalyst report, “Polyether ether ketone (PEEK) Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Grade, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, 2015-2035”, Global polyether ether ketone demand stood at around 12 thousand tonnes in 2021, with the market expected to witness significant growth, growing at a CAGR of 3.4% by 2035.
Explore full report with table of contents: https://www.chemanalyst.com/industry-report/poly
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The increasing reliance on virtual communication may come with a cognitive cost, according to researchers who say the ability to generate ideas in collaboration is “at the heart of scientific and commercial progress.”
Story at a glance:
By making belonging a priority, companies can boost employee retention and performance.
Businesses are spending more money on diversity, equity, and inclusion (DEI) initiatives than ever before. By one estimate, the global market for DEI reached $7.5 billion in 2020, and it is expected to more than double by 2026. But such financial commitments have been followed by a slew of reports questioning the results of all that spen
According to ChemAnalyst report, “Tetrahydrofuran (THF) Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Market Analysis, 2015-2030”, Tetrahydrofuran market has shown a promising growth in the past five years and is projected to achieve a CAGR of 6.85% during the forecast period. Growing demand for spandex and paints and coatings coupled with the increasing demand from other end use industries is exp
Unfortunately, I am still often talking to executives or board members who are skeptical about the value of documenting their risk appetite. I point out to them that in the absence of a properly thought through and compiled risk appetite statement, all you have is an implied level of suitable risk taking. And that employees will have different interpretations of what is implied.
To make my point, I often ask them to discuss the implied level of risk our society has chosen in areas like healthcare
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Megaprojects have a substantial influence on the economic activity, productivity, social peace, and environment of a nation. Estimates indicate that 90 percent of Megaprojects are completed late and beyond budget. Such overruns have an effect not just on a country's budget but also on other factors.
These overruns are caused by technical difficulties, revisions in design and operational requirements, a rise in expenses, disputes over accountability, and new legislation. The greater the complex
Last week I promised you an example of my Pathfinder Model in action. I’ll do better than that, here’s a link to three examples in Chapter 8 in my book Persuasive Advising: How to Turn Red Tape into Blue Ribbon. One describes a scenario for a risk professional, another for a finance professional and another for a project management professional.
My Pathfinder Model of persuasion is always my go-to tool when the need to influence someone – or a group – presents itself, and I encourage you to give
According to a market report, published by Sheer Analytics and Insights, the total the global testing, inspection and certification (tic) market was valued at $290.4 billion in 2021 and it is expected to reach $630.3 billion at a CAGR of 7.10% between 2022 and 2032. The testing inspection, verification, quality assurance, and certification sector consists of both in-house and outsourced services. TIC services help in increasing efficiency production to reduce error, and the service is relevant i
Taxes are a necessary burden. However, many risk professionals carry an unnecessary burden that is withholding them. The burden of silence.
For any staff member to call something out, or even to voice disagreement with senior leaders, they need to feel psychologically safe to do so. Including risk professionals.
However, being in the position of having to call out a lack of accountability may be an indicator of a different problem. It may simply be that leaders don’t see the value in engaging w
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