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Why every business needs continuous and effective model risk management
Hi Global Risk Community member,
Model Risk Management continues to evolve to keep pace the growing adoption and reliance across many sectors of business on advanced analytics.
The finance sector in particular has been challenged to improve model lifecycle efficiencies, meet the demands of evolving regulations, and establish more rigorous AI governance.
Armed with the right models, organizations can translate data into
Global Research, March 08, 2022
Truth Unmuted 22 February 2022
The COVID-19 plandemic provided the perfect cover for all manner of “New Normal” changes that were always intended to become permanent. One change in particular has continued to go mostly under the radar – the increasing use of all-pervasive surveillance.
Unfortunately, this Orwellian, “Big Brother” global digital ID surveillance plan just became even more real.
The Digital Identity Working Group (DIWG) c
Complying with regulations and managing regulatory changes puts a huge amount of pressure on businesses. Organisations across different sectors must follow a whole host of complex regulations relating to data privacy, online payments, store credit, and financial, environmental & trade laws.
This eBook from Camms, explores the challenges relating to manual regulatory change management, it takes a tour through the top 10 regulatory compliance issues facing businesses, and provides a step-by-step gu
Editor's Note: If you are interested in becoming an expert on Innovation Management, take a look at Flevy's Innovation Management Frameworks offering. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
Contemporary vibrant and contracting world demands using a wider approach to Inn
I tried something different last week. I posted a “musing” on LinkedIn. It was an excerpt from my book Risky Business: How Successful Organisations Embrace Uncertainty that read
“Risk management isn’t rocket science. It’s about managing uncertainty.
And, done well, it delivers real value for organisations.”
It sparked quite a lot of activity including some discussion on how to value the risk function. Here are a couple of my replies on the topic:
To Norman Marks:
“Re the value of ERM, I have found s
Don’t choose a job. Work on building a meaningful, fulfilling career in which you will excel, right from an early age. Allow us to take this journey with you and handhold you through it. Our career guidance and counselling process is a wholesome, year-on-year extendable mentorship program spanning class 10 to class 12, Online career counselor after 10th & 12th While this is also a period of immense change and evolution in the life of students, we ensure that they never lose sight of their career
Industrial companies may not be the face of digital disruption, but their evolutionary approaches to
successful digital initiatives hold lessons for other sectors.
March 03, 2022
Source:
MITSLOAN
MANAGEMENT REVIEW
Transforming the organization to reap the benefits promised by advanced digital technologies is no longer a question of “if” or “when”; it’s a question of “how.” Business leaders are often counseled by expert advisers to set up a dedica
Introduction
In this week’s blog, we’re sharing insights based on our latest interview with Christine Uri. She shed light on how the ESG environment is coming more into the compliance sphere and how we should be thinking about this from a risk management perspective. Christine is the chief legal and sustainability officer at ENGIE impact. ENGIE Impact is a company that operates in the primary sphere of guiding corporations through their sustainability transformation. Her responsibilities in the c
Work that permits autonomy, demands problem-solving, and meets other criteria for good design
can bolster employees’ cognitive skills and ongoing learning.
March 02, 2022
Source:
MITSLOAN
MANAGEMENT REVIEW
Promoting worker learning is an increasingly urgent priority: To succeed at executing technology-driven strategies, a company must have a workforce that can rapidly adapt to and master new tools, processes, and roles. As AI systems automate m
Hi Global Risk Community member,
I invite you to attend our upcoming CPE webinar Cornerstones to Strengthen Third-Party Risk Management on Thursday March 24th at 1pm Eastern.
According to a recent survey by security vendor Anchore, 64% of businesses were affected by a supply chain attack in the past 12 months, and this year supplier attacks are expected to quadruple according to the European Union Agency for Cybersecurity. A well-orchestrated TPRM program can not only mitigate third-party cyber
Hi Global Risk Community member,
With regulators committing to include climate considerations in their oversight of financial institutions, are you integrating climate change and ESG factors into your risk management frameworks and appetite?
Successfully integrating ESG and climate change factors into enterprise risk management and business decision making will open new opportunities and create competitive advantages.
Leading financial risk experts from across the US will be assembling at the ES
Rising generations of employees are demanding that leaders engage on topics such as climate change
and racial equity. Leaders must understand how to respond.
Source: MITSLOAN
MANAGEMENT REVIEW
January 28, 2022
MIT Sloan Management Review’s recent Work/22 virtual symposium invited a range of experts to share their insights into the challenges leaders will face in the year ahead. Among them was Megan Reitz, a professor of leadership and dialogue at Hult International Business School, w
A new book examines the unique experiences women of color face in the workplace
and offers insight on how to improve work for everyone.
March 01, 2022
Source: MITSLOAN
MANAGEMENT REVIEW
Deepa Purushothaman was one of the youngest people and the first Indian American woman to make partner in Deloitte’s history. But having ascended high up the corporate ladder, she realized that her work life wasn’t working. It took conversations wi
I very much enjoyed General Stanley McChrystal’s Team of Teams. I’ll definitely draw on his observations as I get fully stuck into writing my next book Team Think – How teams make great decisions.
Here is a great summary article in Chief Executive about Gen. McChrystal’s Risk Immune System analogy he espouses in his latest book Risk: A User’s Guide. The analogy of HIV/AIDS not being the cause of death of HIV/AIDS sufferers. They die from other causes once their defences are compromised. He explai
Introduction
In this week’s blog post, we’re sharing insights based on our latest interview with Stephen Schork the editor and the principal of The Schork Group. The Schork Group's primary goal is to provide research analytics and trading as well as hedging recommendations with analysis for the global energy community.
Stephen gives insights on the current status of the energy market, and how recent agreements have made an impact on the economic growth, such as with the raise in energy prices. T
The role of corporate functions, traditionally, has been to conduct the various service-oriented specialized tasks necessary to run the business. Corporate functions are of strategic significance in achieving organizational objectives yet their role at most enterprises is kind of contractual at best. These units assist in routine operations, facilitate other business units, and manage conflicts and relevant pressing matters. For instance, the Human Resources (HR) function is typically respons
The past year’s most popular articles offer insights on managing through an unpredictable environment of disruption and change.
December 21, 2021
In December 2020, the first highly anticipated doses of COVID-19 vaccines arrived, sparking hope that 2021 might bring a fresh new start less burdened by the pandemic. Since January, the world has made huge strides in managing the pandemic — but coronavirus variants have advanced as well. Thanks to the delta variant, the Great Of
