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.

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Sales at All Costs? Unified Credit Risk Management Can Squash Bad Deals Before They Happen

The collapse of a business doesn’t usually happen all at once. There are warning signs. Late payments, legal filings and falling credit scores are all flashing red lights that something bad is coming. That goes for your customers, too, but risk information is often siloed. Creditsafe’s Matthew Debbage unpacks some findings of his company’s recent survey into the disconnect between...

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Unify Third Party Risk & Cybersecurity for Sustainable Resiliency

Align risk reduction efforts by bringing together third-party and cybersecurity functions White Paper Unify Third-Party Risk & Cybersecurity for Sustainable Resiliency About this white paper from ProcessUnity: Unifying third-party risk and cybersecurity brings together teams that share security goals, increasing efficiency and resiliency throughout the organization. To achieve unification, you must align internal and external risk data across your control...

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Gartner: 84% of Enterprise Risk Management Teams Have Overlooked a Third-Party Issue

A staggering eight in 10 executive risk committee members say their organizations have experienced operations disruptions due to a third-party risk incident, according to a new Gartner survey of enterprise risk management teams. Gartner’s survey of 100 executive risk committee members found that 84% said third-party risk “misses” disrupted operations in the year leading up to the survey, while 33%...

covid business closure insurance

Who’s on the Hook for Pandemic-Related Business Disruptions? Courts Agree, It’s Not Property Insurers.

We’re nearing the three-year anniversary of widespread business shutdowns in the early days of the Covid-19 pandemic. In that short time, almost 2,400 lawsuits have been filed claiming businesses’ property insurance policies should cover losses companies endured while they were shuttered. From coast to coast, circuit courts have — uniformly — disagreed. Laura A. Foggan and Rachel A. Jankowski of...

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With Great ‘Empowerment’ Comes Great Responsibility (and Risk) for CCOs Under Monaco Memo

The Monaco memo’s imposition of CCO certification in DOJ investigations has, reasonably, been a major anxiety-inducer for compliance professionals. And while DOJ officials have said the requirement is designed to “empower” CCOs to ensure their programs are up to snuff, with great empowerment comes, well, great risk. Luke Cass, Michael E. Clark and Chukwukpee Nzegwu from Womble Bond Dickinson dig...

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Not Your Grandpa’s C-Suite: Improving Tech Fluency at the Top of the Organization

In our hyper-connected world, just about every company is a tech company. As commerce and technology become increasingly intertwined, it’s even more important for senior executives and board members to ensure they have basic technological understanding, and Protiviti’s Jim DeLoach has the important questions for them to answer. Research indicates there is a financial performance payback from a technology-savvy board....

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Looking Beyond Risk & Compliance Can Take Legal From ‘No’ to ‘Grow’

Today’s legal functions must become a growth engine for the business and focus on proactively creating value. But the transition isn’t easy. Kearney’s Mike Chapman, Phil Caruso, Seth Anderson and Paul Weichselbaum discuss five keys that can help chief legal officers fulfill this new mandate. The winds of change are blowing hard across the landscape of traditional legal functions. CEOs...

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Top 10 Compliance Stories of 2022

The more things change, the more they stay the same. This time last year, we summarized the top 10 ESG stories of 2021, and those three letters continued to dominate our coverage this year. But we brought you much more than that, including coverage of FCPA enforcement actions, ethical lapses by world leaders, ongoing Covid-19 impacts and more. In no...

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8 Critical Actions to Enjoy the Carrot & Avoid the Stick of DOJ’s Corporate Enforcement Policies

Though it’s announced a new focus on corporate criminal enforcement, the DOJ has also, helpfully, given companies a playbook for avoiding running afoul of the law. StoneTurn’s Jonny Frank explores eight actions firms can take to remain in the government’s good graces. DOJ's initial and further revisions to corporate criminal enforcement policies epitomize the carrot-and-stick approach. Organizations that embrace the...

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