When all is said and done, it’s likely that Silicon Valley Bank’s failure will be traced back to one serious flaw — shoddy risk management. Supply Wisdom’s Atul Vashistha shares the lessons that all companies should take away from this fiasco, even if they weren’t directly affected. The collapse of Silicon Valley Bank is the biggest bank failure since 2008’s...
A trio of policy statements dating back to 1993 established the concept of safety zones with regard to information exchanges and antitrust laws. But now that the DOJ has rescinded that guidance, the waters around safe harbors are decidedly murky. Fiona Schaeffer and Adam Di Vincenzo of Milbank dive into these developments. For decades, a wide range of companies and...
From startups to big banks, the technology and financial services sector have already seen tens of thousands of layoffs in 2023. Not only do these cuts challenge main business functions, but they could lead to serious trouble down the road in the form of insider fraud. Bottomline Technologies’ Chris Gerda talks about new approaches banks and financial institutions should take...
The collapse of a business doesn’t usually happen all at once. There are warning signs. Late payments, legal filings and falling credit scores are all flashing red lights that something bad is coming. That goes for your customers, too, but risk information is often siloed. Creditsafe’s Matthew Debbage unpacks some findings of his company’s recent survey into the disconnect between...
Align risk reduction efforts by bringing together third-party and cybersecurity functions White Paper Unify Third-Party Risk & Cybersecurity for Sustainable Resiliency About this white paper from ProcessUnity: Unifying third-party risk and cybersecurity brings together teams that share security goals, increasing efficiency and resiliency throughout the organization. To achieve unification, you must align internal and external risk data across your control...
Did your business pay all its bills last year? You might be in the minority. Financial & Legal Challenges Persist State of Credit Risk What’s in this report from Creditsafe:Large businesses had the hardest time paying their suppliers in 2022, according to an analysis by online credit score provider Creditsafe, as firms of all sizes dealt with supply chain disruptions,...
Is your business prepared for permacrisis? Drivers of Civil Unrest Strikes, Riots & Protests Expected to Test Business Resilience What’s in this report from Allianz Global Corporate & Specialty:Anger over growing social inequity and the rising cost of living, foundering faith in institutions and a rise in activism and environmental concerns will fuel ongoing strikes, riots and civil commotion around...
The global risk landscape has rarely been more unsettled over the past half-century than it is right now, and a survey of business leaders shows most of them expect the pace of change to continue — or accelerate. Protiviti’s Jim DeLoach digs into the survey results and offers advice for surviving the storm. From the future of work to questions...
A staggering eight in 10 executive risk committee members say their organizations have experienced operations disruptions due to a third-party risk incident, according to a new Gartner survey of enterprise risk management teams. Gartner’s survey of 100 executive risk committee members found that 84% said third-party risk “misses” disrupted operations in the year leading up to the survey, while 33%...
What's to come this year? Demands for heightened oversight of employees, subsidiaries and third parties 2023 Update Global Bribery and Corruption Outlook What’s in this report from Hogan Lovells:For their annual analysis of regional and industry-specific developments in the area of bribery and corruption prevention, Hogan Lovells’ authors keep coming back to two words: good governance. This shouldn’t come as...
A handful of ESG-related regulations are in the works or go into effect in 2023 targeting global supply chains. Despite that welcome bit of clarity, companies still must act with dexterity as they seek to meet internal and external demands. Aravo’s Dean Alms shares his insights about how companies can avoid taking two steps back on human rights as they...
We’re nearing the three-year anniversary of widespread business shutdowns in the early days of the Covid-19 pandemic. In that short time, almost 2,400 lawsuits have been filed claiming businesses’ property insurance policies should cover losses companies endured while they were shuttered. From coast to coast, circuit courts have — uniformly — disagreed. Laura A. Foggan and Rachel A. Jankowski of...
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