Risk

Australia Grapples with its Monstrous Banks Compliance failures at a system-wide level are the hardest to heal from. This article looks at the risks facing companies that are "too big to fail" in light of the recent Australian bank scandal. Compliance failures at a system-wide level are the hardest to heal from. An isolated incident can be sealed and shut,...

Solving Spreadsheet Risks and Errors is Easier Than You Think A decade ago, a professor of IT management and an authority on bad spreadsheet practices released an analysis on spreadsheet errors. It suggested that at the time, close to 90 percent of spreadsheet documents contained errors. But since then, spreadsheets have become larger, more complex and more prevalent – meaning...

When defining an ERM process tailored to the organization’s needs, it helps to have a suitable framework as a point of reference. Otherwise, management begins with a blank sheet of paper and we all know that makes it harder. There are different frameworks from which to choose, among them: COSO Enterprise Risk Management – Integrated Framework ISO 31000 Risk Management...

Extended Enterprise Risk Management Programs Need to Be Understood The benefits related to expanding a company's capabilities beyond the traditional four walls of an organization are too big to ignore, but many executives see challenges in managing the third-party risk involved. Unfortunately, these challenges can obscure the perceived value in expanding the enterprise and test the resolve of decision makers...

Carolyn Lindsey and Alexandra discuss a series of “red flags” relating to a problematic fictional agent, Tan, and the relevance of each.

How to Implement a Better Process When Dealing with Risk Management People, process, and technology are three key elements when it comes to implementing risk management in any company. The challenge is how to implement these elements in a way that helps your company put an integrated approach to the process. In this article Adam Billings, Principal Consultant at Lockpath...

The Role of the Risk Assessment Crisis management is an integral component of effective reputation management. Protiviti's Jim DeLoach discusses why it's imperative to build a rapid-response crisis management capability for sudden and unexpected high-impact, high-velocity and high-persistence events. Years ago, I had a conversation with a high-profile board chair of a top U.S. university. He told me that he...

Today, PwC released its annual Risk in Review, a study with insights from more than 1,500 senior risk executives. This year’s report focuses on how risk leaders address innovation risk. Risk management is often overlooked during periods of innovation, but having the right risk-reward balance in place is the key to success in today’s forward-moving business age. Sixty percent of respondents from this year’s report are considered Adapters, companies with risk management programs that are effective in...

8 Principles to Guide the Risk Assessment Process Organizations don’t need to involve the board in every risk by any means, but critical enterprise risks are a special breed. Protiviti’s Jim DeLoach provides the formula for an appropriately designed risk assessment process – the first step to identifying and ultimately mitigating the risks in this category. Directors and executives need...

Common Concerns for CLOs In the past, the law department was positioned solely as advisors on legal problems, but this year brings the chief legal officer’s role as a key business strategist to the forefront. While chief legal officers and general counsel work for companies of varying sizes within different industries and regions, their top concerns are universal.  Just as the...

Modern Finance’s Imperative to Manage Risk with Data While businesses have more information than ever to drive decision-making, many are struggling to shift organizational structures and manage data to minimize business risk. Eric Dowdell, Global Head of Dun & Bradstreet’s Trade Credit business, dives into the relationship between risk and data and discusses how the utilization of data should be changing risk management...

A Framework for Assessing Regulatory Maturity In the current regulatory environment, banks find it complex and challenging to interpret and assess regulatory requirements on conduct risk.  In this this article, experts from Tata Consultancy Services suggest a robust approach for assessing the level of maturity attained by a bank in conduct risk vis-à-vis regulatory requirements and a remediation plan to...