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.

doctor in lab coat holding heart with connected icons representing patient data

Recent Fines Illustrate the Importance of Third-Party Vendor HIPAA Compliance

Cowden Associates CEO Elliot Dinkin discusses the liability health care organizations assume when enlisting the services of a “business associate” and shares a couple of cautionary tales that make clear why third-party due diligence is so critical. Businesses with access to patient health data risk Health Insurance Portability and Accountability Act (HIPAA) violations that can lead to steep federal and...

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Organizational Speed in the Digital Age

A recent survey noted that the top global risks included concerns over disruptive change to the business model and the organization’s resistance to change. As Protiviti’s Jim DeLoach explains, this incongruence captures perhaps one of a board’s most fundamental fears. No established incumbent wants to fall into the category of companies that were yesterday’s success but are in decline today,...

businessman juggling light bulbs

Growth, Stability and the CRO’s New Balancing Act

MetricStream’s COO, Gaurav Kapoor, discusses how the Chief Risk Officer’s role is changing; CROs are finding themselves increasingly focused on enabling growth while simultaneously ensuring stability. It’s a global trend: Consumers and investors are demanding better standards of corporate governance and integrity. This trend has effectively shifted the focus of the Chief Risk Officer (CRO) from traditional risk areas, such...

businessman holding a green up arrow near the word risk, improving business resilience, reducing risks

Cognitive Governance: 5 Principles

James Bone explores cognitive governance, the first pillar of the cognitive risk framework, and the five principles that drive the framework to simplify risk governance, add new rigor to risk assessment and empower every level of the organization with situational awareness to manage risk with the right tools. The three lines of defense (3LoD), or more specifically, risk governance is...

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Natural Disasters: Protecting Employees and Planning for the Worst

Natural disasters – and their consequences – come in many forms, each with potentially devastating and even deadly outcomes. Skillsoft’s Allison Gruenigen discusses how an organization can protect the business and its employees. While summer comes with many benefits, such as warmer weather and longer days, it also leads to potential and sometimes disastrous weather conditions and natural disasters. These...

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Global Rise of Collective Investor Actions Significant Risk for Companies

Mechanisms for shareholder class-action lawsuits are being developed around the globe. Dechert attorneys David Kistenbroker, Joni Jacobsen and Angela Liu offer insights on what legal and compliance departments can do to shield their organizations from litigation risk. Stakes continue to grow in investor litigation around the globe, and companies must continue to prepare for the ensuing litigation risks that the...

image on laptop screen: 2019 trends

GRC Trends in 2019: Nimble, Anticipatory and Secure

MetricStream’s Gaurav Kapoor shares insights and trends he’s gleaned from connecting with leading CXOs this summer. Here are some of the common threads these influential minds in IT GRC and audit discussed. This June, over 450 business executives, board directors, GRC practitioners, government leaders, industry analysts and more gathered to discuss the biggest risks and opportunities facing organizations today, as...

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Sustainability Performance: A Differentiation Opportunity?

How critical is sustainability performance, and how is ESG reporting likely to evolve in the coming decade? Protiviti’s Jim DeLoach explores the myriad ways strong ESG performance is vital to organizations. As if it’s a double-edged sword, the pursuit of aggressive environmental, economic and social sustainability goals presents both opportunity and risk. Likewise, a minimalist approach to sustainability is also...

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Cognitive Governance: The First Pillar of a Cognitive Risk Framework

Cognitive governance is a radical departure from traditional risk management. James Bone explains the benefits and how the former complements the latter. After the 2008 reckoning of the Great Recession and a 60 percent decline in market value, I became redundant and soon began to question the failings of risk management as a discipline and my own skills as a...

lock on circuit board cast in orange light

5 Ways to Bolster Cyber Safety and Minimize Risk

Cyber threats are simply a business reality in the modern age, but with the right knowledge and tools, we can protect our businesses, employees and customers. Davis Malm’s Robert Munnelly outlines five actions companies can take to maximize long-term cyber safety. Decades of experience in the age of broadband and security breaches has taught us important lessons about the steps...

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Companies That Don’t Tackle Cybersecurity Issues Head-On Will Fail

Every company should be expecting a security breach at some point. MetricStream’s Vibhav Agarwal discusses the importance of tackling cybersecurity directly and what risk-focused executives must do to avoid disaster and position their organizations for success. In a world where organizations are rapidly digitally transforming, cybersecurity has clearly become a business-critical issue. Every firm has unique data that offers it...

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