Top Risk & Compliance Insights of 2022

Best of the Quantivate Blog

Revisit our most-read posts of the year in this roundup of risk and compliance insights and best practices.

As your organization prepares for 2023, take stock of your GRC priorities and practices in areas like cybersecurity, third-party risk management, and ESG.

Cybersecurity Is the Word for 2022

With cybersecurity-focused regulation on the horizon, make sure your organization is ready to detect and address cyber risks and compliance requirements.

“Addressing ongoing cybersecurity threats requires a comprehensive view of your institution’s IT risk and compliance posture. As regulatory burden continues to grow, organizations will struggle to meet compliance requirements unless their cybersecurity management and monitoring processes are part of an integrated strategy.”

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5 Benefits of Integrated Risk Management

Siloed approaches can’t keep up in a constantly changing risk and compliance environment. Explore why integration is a must for institutions looking to improve and mature their risk management function.

“Addressing uncertainty requires more than a piecemeal effort, which is why siloed approaches to risk management are increasingly ‘under the microscope.’ Risk leaders recognize that achieving strategic alignment, greater efficiency, and actionable risk intelligence isn’t going to happen with disconnected processes and tools.”

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The State of ERM: Research Reveals Need for Risk Management Maturity 

How does your organization’s risk management maturity measure up? Explore benchmarks and potential areas for improvement with research from the ERM Initiative.

“Many organizations struggle to make their risk management function a value center, particularly in the area of integrating risk management with strategic planning. The survey found that fewer than 20% believe their risk management processes provide a strategic advantage.”

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Building Third-Party Risk Awareness & Transparency

Learn about the benefits of building third-party risk awareness through GRC technology adoption and data integration.

“Effective third-party risk management involves more than just record-keeping and communication. While adopting a GRC technology architecture can streamline these efforts, it also enables other benefits such as automation, integration, and enhanced risk awareness.”

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Delivering Comprehensive ESG Initiatives

Explore some considerations and first steps for getting started with environmental, social, and governance initiatives, including the uncertain regulatory landscape, the role of ERM, and setting ESG priorities.

“Developing ESG policies, data collection and management processes, and risk and compliance frameworks that address these issues — before regulatory mandates require it — is a strategic opportunity for the financial services industry to approach ESG initiatives as a source of long-term value creation. Even for institutions that don’t have formal structures for managing and reporting on ESG, leveraging existing risk management functions can be a place to start.”

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Taking a proactive approach to governance, risk, and compliance (GRC) is more important than ever. As business leaders navigate the challenges of “operating in a world of endless volatility and disruptions,” many are prioritizing building resilience.

With 2023 and all its unknowns just around the corner, planning for uncertainty and the risk and compliance challenges that come with it is both a necessity and a strategic advantage.

Learn more about how Quantivate helps financial services organizations build a cohesive and scalable approach to GRC management.