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.
Preparing for the (R)evolution of Risk Management
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...
6 Steps to Minimize Conduct Risk
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...
“Antifragility” and an Evolutionary Perspective on Risk
In the 21st Century, Organizations Make Their Own Luck Organizations must be able to weather shocks, and they should act in ways that allow them to adapt, growing stronger as a result of their adaptability. Bill Murray, Senior Researcher and Advisor at Leading Edge Forum, explains the three core organizational skills companies should hone in the pursuit of antifragility. This...
10 Ways Social Media Impacts Your Risk Profile
10 Risks Companies Face in Using Social Media Social media has become a powerful tool for businesses to use in connecting with their customers. The medium has certainly made major corporations more accessible to the consumer. But with this ease of accessibility comes risk in many forms. Jim DeLoach explains 10 potential risks companies may face when using social media...
Cognitive Hack: Trust, Deception and Blind Spots
The Danger – and Simplicity – of Cognitive Attacks The allegations of Russian influence on the 2016 election have been in the news for months. President Trump has claimed that Russian meddling was a hoax, but according to the Mueller investigation, that’s been proven false. While the Russians didn’t hack into polling systems, they did employ a different kind of...
Cognitive Robotics and the Annual AML Risk Assessment
Powering the Process through Automation For financial institutions, the cost of noncompliance with AML policies and procedures is ever increasing. Per industry reports, AML fines have gone up to nearly $4 billion since 2014, and they continue to rise. Among other solutions, the banking industry is beginning to adopt robotics process automation to improve compliance. The cost of noncompliance is...
3 Important Points to Remember About Third-Party Risks
How Much Due Diligence is Enough? It’s easy to get in over one’s head when conducting third-party due diligence. How deep is it necessary to dive to ensure your vendors and suppliers are doing business above board? Michael Volkov provides some expert insight into what “due diligence” means – and what it doesn’t. If you want to learn and read...
Often-Overlooked Factors in Risk Management
Driving Down Risk, From the Cubicle to the C-Suite Effective employee engagement and reporting is key to accountability and effective risk management. So why are we not paying more attention to how today's workforce prefers to communicate? with co-author Jay R. Taylor, CEO of EagleNext Advisors We are entering an era in which seemingly every decision made by managers of...
Strategies to Combat Modern Slavery Risks in the Supply Chain
How Best to Leverage Your Compliance Program The risk of encountering forced labor practices is compounded as companies engage with third, fourth and fifth parties, yet many fail to investigate the full scope of their supply chain’s practices. The best solution is to put boots on the ground, but that’s quite expensive, and there are a lot of companies that...
The Key Concerns Troubling Corporate Legal Executives Today
Data Security and Technology Top the List AlixPartners recently surveyed more than 200 executives worldwide and found that the majority consider data security a major concern. And most of those organizations are taking proactive measures to protect against data breaches. Louis Dudney details findings from the AlixPartners latest poll. Corporate legal and compliance executives have always had their hands full,...
How to Promote a Risk-Aware Climate in a Risk-Averse Environment
with co-author Chris Matlock Making the Investment to Shift Risk Culture Risk culture, though difficult to define, is one of the most mentioned topics by Fortune 500 executives and for regulators across several industries. However, despite this visibility in quarterly calls, creating, measuring and influencing risk culture continues to defy easy answers for organizations. Yet – as Matt Shinkman and...
The Most Critical Enterprise Risks for 2018
A recent survey of director and C-level executives divulged the risks that their organizations face in the upcoming year. The top ten common risk themes are ranked in order of priority below.
