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.

Tips to protect high-value information

Keep Your High-Value Information Close – and Your Employees Closer

While most companies are focused on the external, malicious attackers, they may forget about the vulnerabilities that lie within their organization, such as their #1 line of defense: the employees. A recent Ponemon study found that almost three-quarters of IT security practitioners have lost confidential data in the past year and lack the ability to prevent data leakage by their...

How to fight the risk of reputational damage

Playing the Long Game with Short-Timers

Culture risk is an emerging threat for many organizations, and one that should be proactively addressed. For example, when an employee finds a new job, his current job performance and commitment often lag–potentially posing a serious threat to the business’ well-earned reputation. Deloitte’s Chief Risk, Reputation and Regulatory Affairs Officer Chuck Saia recommends a solution for businesses and leaders to...

Strong risk models have a direct impact on compliance – and profitability

Why Model Risk Matters

Newspaper headlines blasting the news of major losses for a financial institution due to modeling error have become commonplace. Users must ensure that the models they rely upon are appropriately built and yield useful results, and for more than just regulatory compliance. Good models reduce losses and enhance decision-making.

A new approach to managing cybersecurity

Cognitive Risk Framework for Cybersecurity, Part 2

In today’s risk landscape, corporations must rethink the way they manage cybersecurity and combat cyber threats. James Bone, a leading expert in regulatory compliance risk, expects the Cognitive Risk Framework for Cybersecurity (CRFC) to become part of a broader approach to managing risk – and soon. Here, he details the key components to a CRFC.

Managing compliance in high-risk regions

Hide and Seek: Asia-Pacific Puts Sanctions Due Diligence to the Test

With some sanctions against Iran recently being lifted, new commercial opportunities have been created. And with these new opportunities comes greater risk – namely that corporations could do business with front companies or specially designated nationals. The challenges don’t lie strictly with Iran, however; several nations in Asia pose a high risk for corruption, as well.

A cognitive security solution is necessary in a new era of cyber risk

Cognitive Risk Framework for Cybersecurity

Despite the fact that organizations are spending more than ever on cybersecurity, the threats continue to increase. Cyber risk is certainly a multi-faceted concern for corporations, but the lack of real success in preventing cyber hacks may be due to an oversight of organizations’ greatest vulnerability – people. Read on for the skinny on CogSec – cognitive security – solutions.

Gig economy presents new risks in business travel

Sharing Economy: The Next Frontier for Business Travel?

The sharing economy will undoubtedly influence business travel, with employees looking to Airbnb in lieu of hotel rooms and Uber or Lyft rather than a taxi or company car. But implementing set processes to mitigate the potential risks of relying on the sharing economy is a major challenge facing the enterprise. Business travel expert Austin Klein speaks to the future...

The effect of process ROT on risk and compliance

Does Your Organization Suffer from Process ROT?

Process ROT – the practice of retaining redundant, obsolete and trivial information – makes finding information difficult and reduces productivity, not to mention the effect on risk management. To further complicate the matter, most organizations don’t realize when it’s happening. Companies experiencing process ROT risk reputational harm and greater exposure to litigation. Here’s what you can do about it.

A lax ethics and compliance program could indicate a sizeable risk appetite

When it Comes to Risk, Just How Hungry Are You?

What’s your organization’s risk appetite? Some organizations rank way up there with surfers and stunt men. Others like to play it safe, taking on the level of risk you might associate with putt-putt golf, but most fall somewhere in between. To determine your company’s ethics and compliance risk tolerance, consider the direction provided by the Federal Sentencing Guidelines.

The Risks Modern GRC Leaders Face

The Risks Modern GRC Leaders Face

Corporate Compliance Insights' Founder and CEO, Maurice Gilbert, had the opportunity recently to chat with Chris Caldwell, President and CEO of LockPath, a company that's fast becoming a leader in the GRC and information security markets. Chris offers his perspective on the challenges compliance professionals face currently, as well as some of the greatest risks threatening today's businesses.

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