Compliance is a monumental challenge for financial institutions. Compliance management requirements and the regulatory landscape are constantly shifting, making it paramount for organizations to develop and implement agile compliance processes to meet their obligations. As compliance management has grown more complex, expecting the CCO and other compliance officers to manually analyze high volumes of information and keep pace with changes to the business and regulatory landscape inevitably leads to problems. Issues slip through cracks,…
As organizations become more complex, establishing efficient governance, risk, and compliance (GRC) processes takes priority. Organizations need to shift to digital and automated GRC management methods, but to do so effectively, they must identify the specific issues they intend to address and develop a coherent strategy for adopting GRC technology. To facilitate a smooth transition to automated GRC processes, companies need to follow three steps to optimize their investment in new technologies: Examine the…
Organizations can’t afford to look at risk and financial operations as departmentalized units. Financial management and governance, risk, and compliance (GRC) functions must adhere to a unified model that enables the entire company to move cohesively in the face of change and uncertainty. The modern CFO’s role has now expanded to contribute to risk management strategy. With myriad changes in the compliance and operational management environment, the CFO and financial managers must understand how…
Growing cyber threats, an evolving regulatory environment, intricate data sets across multiple verticals—the complexities of IT risk management require solutions that equip your organization to organize, manage, and monitor risk and security. Designing an active approach that keeps pace with changes in the IT risk landscape requires a holistic strategy that not only looks to mitigate today’s risks, but also provides a scalable approach to addressing future risks. Ensuring that information technology infrastructures are…
The modern business environment is constantly subject to change, and risk leaders need to bet on the inevitability of the unknown. Situational awareness and anticipation can mean the difference between risk being a tool or a nightmare. In the words of Theodore Roosevelt, “Risk is like fire: If controlled it will help you; if uncontrolled it will rise up and destroy you.” ERM for Executives: Understanding the Interconnectedness of Risk Risk is more than…