Financial services companies face a complex risk management landscape, with model risk being one key area of concern. Model risk is a bit unique because it is a risk factor that is essentially exclusive to the financial sector and companies that are applying risk management principles in a financial context. In the world of finance,… Continue reading How Leading Financial Services Companies are Managing Model Risk in 2023
IBM OpenPages GRC Services | GRC Consulting – iTechGRC
Category: IBMs product
The Role of Policy Management in Preventing Financial Fraud in Banking
Financial institutions such as banks and credit unions face a very high level of risk. This risk is inherent and built into the banking business model, making for a complex risk management and mitigation landscape. Fortunately, good policy management practices can position a bank to prevent financial fraud and theft. Understanding the Prevention of Financial… Continue reading The Role of Policy Management in Preventing Financial Fraud in Banking
How to Streamline Your Regulatory Compliance Process in the Insurance Industry
The insurance industry is amongst the most heavily-regulated industries, perhaps only behind the financial sector when it comes to the sheer number of regulatory bodies and the pervasiveness of the regulations that they are required to follow. Streamlining your regulatory compliance process in the insurance industry can be challenging, especially when you consider the dynamic… Continue reading How to Streamline Your Regulatory Compliance Process in the Insurance Industry
The Role of IT Governance in Strengthening Data Security for Insurance Companies
Data security is a very real concern for companies in all business sectors, but the dangers and risk factors are especially intense for companies in the insurance space. Insurance companies store large volumes of very sensitive information submitted by customers. There are numerous laws and regulatory oversight groups with rules and requirements for data management… Continue reading The Role of IT Governance in Strengthening Data Security for Insurance Companies
The Future of Data Privacy in Credit Unions: Trends and Predictions
People expect that their personal data and financial information will remain protected at all times, especially when it comes to the data they provide to credit unions, banks, and other financial institutions. It’s easy to see why this is the case. A single data breach can send massive volumes of extremely sensitive personal and financial… Continue reading The Future of Data Privacy in Credit Unions: Trends and Predictions
AI can Help You Turn Digital Risk Management into Strategic Advantage
In any organization, digital risk has rapidly emerged as one of the most pervasive and rapidly growing risks. A recent survey by Gartner indicates that digital risk is the foremost strategic business priority for corporate directors in 2022 and 2023. The dependence on digital technologies has accelerated, driven by investments made during and after the… Continue reading AI can Help You Turn Digital Risk Management into Strategic Advantage
How to Evaluate and Choose a Data Privacy Management Solution for Your Credit Union
Data often represents a credit union’s lifeblood — its most valuable asset, so to speak. A financial institution’s data may be directly linked to mission-critical operations, ROI, and overall profitability. Credit unions collect a diverse variety of data points, including personal data and financial data. These data types can be quite valuable and members of… Continue reading How to Evaluate and Choose a Data Privacy Management Solution for Your Credit Union
How to Measure the Effectiveness of Your Credit Union’s Internal Audit Process
Credit unions — like banks and other financial institutions — are subject to strict regulatory oversight which carries significant reporting and auditing requirements. These regulations are intended to maximize efficiency and improve accountability in an industry that was largely unregulated until the early 2000s when a number of major banks failed. Internal Audits can go… Continue reading How to Measure the Effectiveness of Your Credit Union’s Internal Audit Process
The Importance of IT Governance in Mergers and Acquisitions for Investment Banks and Brokerage Firms
Brokerage firms and investment banks are subject to strict regulatory oversight and a host of legal requirements. This makes for a rather complex equation when it comes to risk management and IT governance. But things get even more complicated when you add mergers and acquisitions into the mix. This complex nature leaves many business leaders… Continue reading The Importance of IT Governance in Mergers and Acquisitions for Investment Banks and Brokerage Firms
IT Governance and ITIL Framework for Investment Banks and Brokerage Firms
Investment banks and brokerage firms are subject to strict legal and regulatory oversight, which means these companies must implement measures to ensure that their technology meets all of the established guidelines. Enter IT governance and ITIL frameworks for investment banks and brokerage firms. But when it comes to ITIL frameworks and IT governance software solutions,… Continue reading IT Governance and ITIL Framework for Investment Banks and Brokerage Firms