Risk

A Digital Transformation Increased sophistication in technology platforms, banking channels and digital initiatives has ushered in transformation in the banking industry. But these changes have also brought about increasingly sophisticated financial crimes. Bank fraud is now being committed by tech savvy criminals who find means to bypass the fraud detection rules bank platforms employ. Introduction The last two decades have...

Using Artificial Intelligence to Minimize Risk Money laundering continues to be a serious concern for financial institutions across the globe, as legacy technologies allow an unacceptable number of illicit transactions to go unidentified. However, many forward-thinking financial institutions have begun working smarter by using artificial intelligence (AI), dramatically improving the effectiveness of their investigations, and enabling them to identify suspicious...

Musings of a Cognitive Risk Manager To drive change, you need buy-in, and to achieve buy-in, your people need to know the “why” behind the change. This is the premise behind cognitive risk governance, the “designer” of human-centered risk management. James Bone, author of Cognitive Hack: The New Battleground in Cybersecurity…the Human Mind, further explains the cogrisk framework. In my...

Seventh Annual Report Finds Organizations Spend Too Much Time Looking for Risk in Email; Not Enough Time in Mobile, IM and Social Media  FINRA Annual Conference, Washington D.C., – Smarsh®, the leading provider of information archiving solutions for compliance, e-discovery and risk management, today released its seventh annual Electronic Communications Compliance Survey Report. The survey of compliance professionals in the financial services industry shows that as the electronic communications compliance landscape becomes more complex...

The National Association of Corporate Directors published an authoritative guide in 2009 on risk governance, and the principles outlined therein are as relevant today as ever. Jim DeLoach provides an analysis of each of the 10 principles, demystifying the process of evaluating board risk oversight.

Risk management has undergone a sea change over the past few decades, yet risk management practices have evolved very little. scarcely evolved to keep pace. Though organizations enjoy robust technological capabilities, they grow more fragile and vulnerable to massive systemic risks all the time. A risk program centered on human behavior and decision-making.

Professionals in the risk management field have shifted gradually away from a siloed approach to a more integrated approach. As most of us know, however, the switch is not easy; it can be overwhelming to keep on top of the full range of enterprise risks. John Verver posits that technology is the critical enabler here. Without it, getting a big...

A Case for Thorough Due Diligence A strong compliance program within your own company isn’t enough if your third-party suppliers are cutting corners. When foreign partners are targeted by regulatory authorities – and the arm of the U.S. government is LONG – American companies too will feel the sting in the form of disruption in flow of goods and services....

Following last year’s Principles for Improving Board Risk Reporting comes an updated list. This expanded set of principles comes from Protiviti’s Jim DeLoach and Rick Steinberg, CEO of Steinberg Governance Advisors. While the original six principles focused primarily on what corporate boards should be looking for, the additional four address communications around risk matters.

This paper focuses on risk in compliance, and author Tom Fox is joined by Ben Locwin, Director of Global R&D at BioGen and an operational strategist in pharma and healthcare, to explore risk forecasting, risk assessment and risk-based monitoring for the compliance profession.

The single biggest differentiator of profitable growth companies is their ability to allocate capital to bigger, riskier growth bets. Rather than inhibit growth, risk is uniquely positioned to enable it. In the quest for new growth, the risk, corporate strategy and finance functions have a unique opportunity to collaborate in order to establish and align around the risk required to...

Risk management is fast becoming a business priority. However, research shows that there is minimal understanding of the robust GRC platforms that make a streamlined, integrated approach possible. These tools can help optimize risk management processes to improve program efficiencies and reduce operational costs while bolstering cybersecurity.