Modern business has grown increasingly complex over the years. Globalization, regulations, and new technologies have made it difficult to keep business strategy and objectives aligned with this complexity. Many organizations find themselves conducting issue management through a siloed, departmentalized lens. Issue management activities are too often buried deep within back-office departments and functions. This siloed approach can often lead to redundancy, confusion, and things slipping through the cracks, as organizations lack a full understanding…
When we consider governance in modern business, an old parable comes to mind: He who builds a house upon the rock will weather the storm, but he who builds a house on sand — on weak foundations — is destined for structural failure. Often organizations focus on maximizing shareholder value but forget that ethics and responsibility cannot be an afterthought — governance needs to be ingrained in the DNA of your business model from…
Cybersecurity is becoming a priority for organizations of all sizes. Risk leaders and other senior practitioners at financial services firms ranked IT disruption as their top operational risk for 2021, according to a Risk.net survey. The shift to remote work over the past year only heightened security risks and concerns — both from outside attackers and internally. Let’s explore some risk areas that CISOs and other IT executives should be aware of as they…
Addressing CFPB Requirements, Conduct, and Customer Engagement Customer service teams face a tremendous responsibility in managing difficult feedback and handling many front-office and customer-facing business tasks. Customer service teams serve as the face of an organization to the public while handling large amounts of incoming information. They have a duty to their organization and customers to handle consumer data responsibly. Efficient customer service is not only a business requirement, but also a legal one.…
COVID-19 has ushered in significant regulatory and business change over a short time — from remote working to new compliance requirements — and organizations have been forced to adapt quickly. Events like pandemics have lasting impacts on society, and it’s reasonable to assume that many of these innovations and changes are not going away. As a result, it’s imperative for organizations to modernize their approach to compliance management. Business environments and operations have shifted, particularly…