At times, it is appropriate to step back and reflect on why ERM fails. Below Protiviti’s Jim DeLoach explores 10 common risk management mistakes and how they can be avoided.
An Audit Of Internal Audit — Time To Upgrade
Grant Thornton’s Warren Stippich outlines important factors and initiatives needed to advance the internal audit function.
Nano Compliance
In the great book of corporate compliance program failures, one of the most important stories is from the Bankers Trust derivatives marketing scandal of the mid-1990s. In that case, the bank was sued by both the government and various counterparties for deceptive practices in selling highly complex derivative instruments.
Given the horrific consequences to Bankers Trust of this lapse, the story calls to mind, “For want of a shoe a nail was lost,” and so on up to the loss of a kingdom. It also suggests a need to “think small” – and to practice “nano compliance.”
Sharing the Load on Compliance Risk…and Changing Mindsets Along The Way
May 3, 2012 by 1 Comment
As compliance challenges continue to emerge and develop, the bond between the governance and executive bodies is evolving in parallel. The conversation no longer centers on “do we have a compliance or risk management program,” rather it hinges on agreement about key performance measures of the program and empowering leaders in the organization and their employees to share in the ownership of the continuous management of compliance risk.
Wal-Mart’s Bribery Allegations in Mexico: Insights into Specific Corruption Risks
What is the anti-corruption compliance professional to make of all of this? Matteson Ellis lists eight risk indicators suggested by the Wal-Mart de Mexico matter.
New Risk Management Solutions
In the face of a recent campaign for better corporate governance being conducted with fierce efficiency by the Securities Exchange Commission (SEC) and the Department of Justice (DOJ), many companies have had to dole out massive expenditures on conducting internal investigations into potential Foreign Corrupt Practices Act (FCPA) violations, a trend which is only anticipated [...]
The People Side of Physical Security: 3 Areas To Focus On
There is a larger role that corporate compliance can play to support the organization’s physical security. This involves the people side of the issue. Skout Group’s David Gebler discusses three areas that leadership needs to focus on.
Determining the Infrastructure You Need For ERM – Setting the Foundation
Along with process, integration and culture, infrastructure is one of four foundational elements that frame what executive management and directors need to consider when implementing ERM. “Infrastructure” is a scary term for many executives. It conjures images of cumbersome overlays on established management processes. Given the nature of the organization’s risk management process, the core [...]
3 Risk Management Concerns In Global Expansion
As companies begin seeking out new means of growth and expansion, looking to reach out into new markets, the go-to answer for many organizations as of late has been in global ventures. However, while these foreign expansions are full of opportunity and promise, such large-scale strategies are also rife with new risks that many companies [...]
Beware Of These 4 Myths of IT Data Security
While we reap the benefits of information technology in all aspects of our daily lives, we seldom comprehend what’s going on in the background or consider the potentially costly risks it ushers into our organizations. Effective enterprise risk management requires knowing and evaluating exposures throughout your systems, including your cyber and data breach risks. The [...]
