Risk

In the age of Big Data, truth seems increasingly fluid. This is one of the reasons risk management fails. James Bone warns against taking an “archaeological” approach to risk management in the face of uncertainty, creating stories from past experience and imperfect information to describe the new truths using old methods.

Many are uneasy about the changes a Trump presidency will bring, GRC professionals included. But it’s important not to lose perspective: many federal agencies and their mandates will be reshaped by the new leadership or directed to change their priorities, but state and industry regulations may not change. Or, they could react in opposition.

There are significant limitations intrinsic to the traditional approach to risk assessment, which is why a more robust assessment is preferable. Certain categories of risk (strategic, operational, finance, and compliance, for instance) have unique characteristics that cannot be adequately accounted for in a basic assessment.

It’s easy to identify in hindsight where risk management failed, and taking a look at past ERM failures can actually provide great insight into what went wrong and why. Jim DeLoach offers insight into some of the lapses in risk management companies experience most frequently – along with indicators you can be on the lookout for to keep your organization...

Organizations seeking to improve the risk management function must consider the maturity of its ERM infrastructure. Jim DeLoach writes that there are five levels of maturity – and there’s an ocean of distance between an ERM program in its infancy and one that’s operating at the highest level of capability. Where does your organization fall along the spectrum?

This new book from SAI Global explores factors that drive employees to make unethical decisions that can undermine anti-bribery and anti-corruption compliance programs -- and also offers help to prevent that from happening.

As financial institutions continue to partner with technology companies and startups to explore potential applications of Blockchain technology in all aspects of their business, naturally, there are those who will seek to exploit its vulnerabilities. Blockchain holds the possibility for great value, but also poses possible risks.

On their individual roads to success, large corporations have obviously gotten a lot of things right. Where many continue to struggle, however, is in managing risk effectively. Small and medium-sized organizations tend to hit the nail on the head in this department. Here’s some of what the big boys can learn from the little guys.

Authors Andrea-Bonime-Blanc, JD/PhD and Leonard J. Ponzi, PhD Offer Dual Approach to Understanding Reputation Risk Major surveys in recent years have found that executives and board members ranked reputation risk not only as a top concern – but also as a strategic risk that could have significant impact on an organization’s overall wellbeing. In Understanding Reputation Risk: The Qualitative and...

TRACE International, the world's leading anti-bribery standard-setting organization, has announced the release of a new edition of the TRACE Matrix, a global business bribery risk index. Compared to the 2014 edition, the 2016 TRACE Matrix shows considerable improvement for some countries in reducing the risk of public bribery. Read more here.

Businesses in all industries are facing disruptive change, and how they respond to the change is critical. Companies who don’t develop a sound understanding of the new normal and/or don’t react quickly and appropriately won’t fare well. Jim DeLoach discusses the importance of embracing change and adapting accordingly.

This 9-page paper from My Compliance Office outlines the key steps you must take when constructing requirements for a modern and dynamic third party risk management solution.