Risk
Risk refers to threats an organization faces -- loss of earnings, loss of reputation, or harm of any kind. These articles explore the challenges of preventing, identifying and mitigating risk.
Risk can come in many forms, including financial issues, legal liabilities, strategic or leadership errors, or accidents and natural disasters. Today, IT- and data-related risks are growing concerns.
The following articles about risk look at the issue from many angles, especially from that of compliance officers and risk managers.
MetricStream: The Future of Integrated Risk Management
Discover how to build a forward-looking, integrated risk framework that can help you identify "unknown-unknowns" by understanding how various emerging and existing risks intersect with each other. This whitepaper from MetricStream provides: A framework that brings together diverse and dispersed risks, providing a means to understand the intersections between these risks An analysis of how to build an adaptive program...
How to Grow Your Compliance Practices as You Scale
It’s critical for small business owners to minimize exposure and risk; for SMBs, a single ethical or regulatory violation can be catastrophic financially and reputationally. ComplianceLine’s Giovanni Gallo provides guidance for SMBs on how to minimize those risks. Many small to medium businesses (SMBs) are tempted to not deal with compliance and risk management until they’re forced to. They don’t...
FTI Consulting’s Resilience Barometer 2020
FTI Consulting Survey Finds Business Resilience Remains Low Despite Persistent Risks As executives continue to confront cybersecurity, financial crime and regulatory threats in 2020, companies remain largely unprepared for events that can impact revenue, valuation and reputation, according to a new survey released at the World Economic Forum in Davos, Switzerland. The "FTI Consulting Resilience Barometer 2020," a survey of more...
The Implications of Technical Debt to Your Company’s Competitiveness
For decades, arcane discussions on technical debt have occurred within the ranks of IT, with little engagement from executive management and the board. As Protiviti’s Jim DeLoach explains, today, directors and executives have no choice. They must increase their awareness and understanding of this issue and its impact on the company. Technical debt can be a formidable barrier to sustaining...
What’s Ahead for Enterprise Risk Management In 2020
With fresh corporate scandals in the news seemingly every day, enterprise risk management is growing in importance for organization leadership – and rightly so. LogicGate CEO Matt Kunkel discusses what he foresees for ERM in the year ahead. The global market for enterprise risk management is growing as organizations increasingly prioritize their risk mitigation strategies. Because data breaches are becoming...
Minimizing Liability Under the SEC’s Reg-BI
RumbergerKirk’s Pete Tepley and Meredith Lees highlight litigation risks posed by the SEC’s Regulation Best Interest (Reg-BI), litigation risks that may arise from Reg-BI’s care and compliance obligations and best practices to mitigate those risks. By looking beyond Reg-BI’s June 30, 2020 compliance date to some of the litigation risks posed by Reg-BI, this article addresses: The possible litigation risks...
What Drives Social Media Mobbing?
Social mobs love “cancelling” people. What drives some to pile on, and what can organizations do to effectively manage a crisis if and when one arises? Risk expert Michael Toebe provides a game plan. Social media is a powerful voice in society, whether led by media, people of high influence in different professions or in the court of public opinion....
The Board-Management Risk Appetite Dialogue
Considering unpredictable markets, myriad uncertainties and unprecedented market opportunities, how should the board and executives engage with respect to the organization’s risk appetite? Protiviti's Jim DeLoach offers sage wisdom. In 2017, the National Association of Corporate Directors (NACD) Advisory Council on Risk Oversight released a publication based on input obtained from a meeting with risk and audit committee chairs from...
The Risks of Undervaluing a Focus on Culture
On a long enough timeline, every system needs reworking to avoid failure. Gary Patterson and Robert Barker share how even the most steadfast brands can experience serious hiccups if they focus on the wrong thing. Every board of directors should include an independent review of corporate culture as part of its enterprise risk management process. As the story below notes,...
The Social Construction of a Scandal
Do corporate execs and legal counsel truly understand the role news media plays in establishing the narrative about fault and consequences when a scandal arises? Michael Toebe offers guidance on responding well. How significant a crisis may become with all stakeholders may have more to do with how it’s interpreted by the media and presented by it than what actually...
The Curious Case of Bias in Risk Assessments
Christopher Magno, Terrance McCue and Michael Gordon discuss the pervasive yet elusive concept of bias, offering guidance on how to spot common biases and useful tips on mitigating their effects on your risk assessments. While we as compliance specialists, attorneys and risk professionals typically try to end the year with a healthy dose of holiday cheer, this merriment is often...
The 3 Final Pillars of the Cognitive Risk Framework
The five pillars of the cognitive risk framework (CRF) are designed to provide a 3D view of enterprise risks. James Bone details here additional levers of risk governance in the final three pillars of the CRF. In earlier installments, James discussed the first pillar of the Cognitive Risk Framework (CRF), cognitive governance; the five principles undergirding cognitive governance; and the...
