Companies in all industries and business sectors ought to have a well-established risk management strategy in place. Within that strategy, financial controls management plays a critical role. The reason? Criminals of all kinds — including cybercriminals — tend to target a company’s financials and/or data. Most business leaders recognize the importance of financial controls management,… Continue reading The Importance of Continuous Support in Financial Controls Management: Tips for Evaluating Providers
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Author: Cesar Castillo
Best Practices for Implementing an Effective Operational Risk Management Program for Financial Institutions
Banks and other financial institutions face a slew of risk management challenges, many of which are in-built and inescapable components of their core business model. Unfortunately, this means that there are many threats that can never be fully neutralized and even more vulnerabilities that are impossible to eliminate. What’s more, the financial space is one… Continue reading Best Practices for Implementing an Effective Operational Risk Management Program for Financial Institutions
How Insurance Companies Can Incorporate Cyber Risk Analysis into Their Business Continuity Management Plan
The insurance industry is amongst the most complex when it comes to risk management, seemingly with threats approaching from every angle. In fact, insurance dwells within a sector where the business model has a significant in-built element of risk — risk factors that can only be partially mitigated, if at all. The National Association of… Continue reading How Insurance Companies Can Incorporate Cyber Risk Analysis into Their Business Continuity Management Plan
How to Identify and Prioritize Risks in Business Continuity Management
An ever-increasing number of business leaders are placing increased emphasis on risk management as part of their overall business strategy. It’s a trend that we’ve seen since the COVID-19 pandemic — an event that revealed the true fragility of success in the business world. The pandemic left many company leaders and stakeholders shaken as they… Continue reading How to Identify and Prioritize Risks in Business Continuity Management
Guide to IBM OpenPages V8.3: What is new and what has changed
OpenPages with Watson by IBM is one of the best-integrated governance, risk, and compliance platforms that enable businesses to manage risk and compliance challenges. It has core modules that target risk and compliance domains such as operational risk, financial controls management, internal audit, policy management, IT governance, model risk governance, third-party risk management, regulatory compliance… Continue reading Guide to IBM OpenPages V8.3: What is new and what has changed
How to Choose the Best Financial Services Risk Management Framework
Enterprise risk management can get extremely complex, especially when you are dealing with a frequently-targeted industry such as the financial sector. In fact, financial institutions and companies specializing in financial services are amongst the most targeted businesses, resulting in a multifaceted and complex risk management landscape. Enter the financial services risk management framework, a tool… Continue reading How to Choose the Best Financial Services Risk Management Framework
Streamlining Banking Risk Management: The Benefits of Implementing a Risk Management Software
Of all business sectors and industries, business leaders in the financial sector and banking space are confronted with some of the most complex risk management considerations. Banks, credit unions, lenders, and other financial service providers are frequently targeted by criminals — especially cybercriminals — due to the many areas of vulnerability that exist within banks… Continue reading Streamlining Banking Risk Management: The Benefits of Implementing a Risk Management Software
How IBM’s OpenPages Helps Visualize Risk Management
IBM’s OpenPages is an artificial intelligence-driven governance, risk, and compliance software platform that’s gaining tremendous popularity amongst companies that are seeking to streamline their risk management activities. The ability to visualize risk management is one of the many features found within the IBM OpenPages platform and it’s these graphical data depictions that are leading to… Continue reading How IBM’s OpenPages Helps Visualize Risk Management
How Banks Are Using Enterprise Risk Management Systems to Improve Efficiency and Accuracy
Enterprise risk management software platforms are designed to target vulnerabilities, neutralize threats and reduce risk levels. Banks and other financial institutions face a diverse, dynamic range of risk factors and many cannot be fully eliminated or mitigated, although, with the right strategy, they can be effectively minimized and managed. That said, you can also see… Continue reading How Banks Are Using Enterprise Risk Management Systems to Improve Efficiency and Accuracy
Developing an ERM Framework for Your Financial Institution
Enterprise risk management — or ERM — is a topic of very real strategic consideration for financial institutions such as banks, lenders, and credit unions. Risk is an in-built and unavoidable aspect of the lending and banking business models. But even with an inherent element of risk and vulnerability, these companies must implement proactive measures… Continue reading Developing an ERM Framework for Your Financial Institution