Risk

Spreadsheets play a greater role in the risk and compliance process than one may think, according to a recent study conducted by Forrester Consulting. Diane Robinette, CEO at Incisive Software, details the findings from the report. The Forrester Opportunity Snapshot study reveals, despite easy manipulation and a lack of controls, nearly 50 percent of companies still rely on spreadsheets alone...

What happens when decisions made by an artificial intelligence platform lead to injury or damage? Is the “system” responsible? Fox Rothschild’s Chris Temple discusses legal liability when AI decisions made without human input go wrong. More and more process systems deployed in public infrastructure, industrial, commercial and residential applications are not only automated, but also are increasingly using autonomous non-human...

Assumptions are dangerous. Sam Sheen, financial crime expert at Efficient Frontiers International (EFI) shares the story of a criminal who seemed above board but would certainly have been found out sooner with proper customer due diligence. Have you ever seen dogs at the airport sniffing around the bags? These sniffer dogs play a critical role in the story of a...

In the last two years, the United States and its international allies have significantly increased the use of sanctions against illicit maritime networks engaged in commerce in support of the regimes in North Korea, Syria, and Iran, as well as actors that continue to trade with Crimea. The U.S. has also imposed sanctions against maritime firms and vessels that are...

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...

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,...

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...

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...

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...

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...

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...

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...