As states in the U.S. intensify data protection guardrails, efforts escalate at the federal level with new rule proposals, prompt actions, and legal settlements. C-level and data privacy leaders worldwide are actively raising the bar with effective data governance to keep their firms risk-free and compliant with data protection and privacy laws. iTech GRC’s IBM-certified… Continue reading U.S. Data Protection and Privacy Laws: Federal Updates (Part2)
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Category: Industry
Time to Re-evaluate Corporate Actions: Six Corporate Governance Trends in 2024
Corporate governance frameworks are vital for demonstrating a company’s ethical practices and values while balancing stakeholders’ and community interests. 2024 is filled with events that have made corporate entities perpetual targets for ethical and sustainability activism and regulatory scrutiny. As we close the mid-third quarter of the year, it’s time to revise your organization’s strategies… Continue reading Time to Re-evaluate Corporate Actions: Six Corporate Governance Trends in 2024
Four Lessons on Avoiding a GRC Failure
Large corporations, brands, and enterprises have a fair share of reasons to fall behind their governance, risk, and compliance management objectives, resulting in a massive GRC failure. It is common knowledge that getting a hold of GRC needs is complicated, but regulatory bodies and governments quickly slap hefty penalties that can run into billions of… Continue reading Four Lessons on Avoiding a GRC Failure
FDIC Risk Review 2024: A Nuanced Approach to Risk for U.S. Community Banks
Rising interest rates and an uptick in liabilities drive banking and financial institutions into liquidity risks. We have witnessed the repercussions of misaligned liquid asset portfolios and funding resources, leading banks into epic insolvencies and meltdowns. Federal agencies issued regulatory updates to tighten lending functions. They increased the asset reserves threshold to prevent another sorry… Continue reading FDIC Risk Review 2024: A Nuanced Approach to Risk for U.S. Community Banks
Rise of Social Engineering: Types of Social Engineering Attacks (Part 2)
After a prelude to the concept of social engineering as an emerging form of cybersecurity attack, let’s explore the different forms your enterprise may likely encounter. First, let’s have a quick look at some stats on social engineering assaults: An average business encounters nearly 700 social engineering attacks annually. 50% of social engineering attacks… Continue reading Rise of Social Engineering: Types of Social Engineering Attacks (Part 2)
Seven Valuable Lessons on Third-party Risk Management
Recently, a leading bank made headlines for suffering a massive third-party data breach that compromised tens of thousands of its customers’ personal data. Third-party associations help banking and financial institutions deliver innovative solutions and products to cater to customer demands. Often, third-party alliances are risky and, therefore, require a highly responsive and resilient third-party risk… Continue reading Seven Valuable Lessons on Third-party Risk Management
Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals
2023 was indeed a poster year for disruptions. Evolving bank regulations and supervision will drive banking and financial services firms to tread consciously in 2024. Let’s explore the latest banking and supervisory regulations impacting banking and financial institutions’ governance, risk, and compliance (GRC) agenda this year. Basel III Endgame: Post the 2009 financial catastrophe,… Continue reading Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals
Highlights from the COP28: The Future of ESG Reporting
Climate changes made sustainability the global catchphrase. However, the hope of reaching zero emissions and transitioning out of fossil fuels still stands reasonable and realistic. Recently, more than 2,400 individuals connected to fossil fuels registered for the 2023 United Nations Climate Change (COP28) in Dubai, UAE. The COP28 is one of the biggest global climate… Continue reading Highlights from the COP28: The Future of ESG Reporting
A Guide to Model Risk Governance
The world survived turmoil from geopolitical shifts, soaring inflation, great resignation, and three years of compounding crises from the COVID-19 pandemic. There is no escape for businesses across industries from the state of ‘permacrisis’ or extended periods of instability and insecurity. Most model-reliant businesses in banking, financial services, and insurance (BFSI) are predisposed to intermittent… Continue reading A Guide to Model Risk Governance
Keep Up with 2024’s Top Data Privacy Trends with OpenPages Data Privacy Management
Did you know last year, there were about 4,100+ data breaches, accounting for 22 billion publicly exposed records? Another research predicts that by the end of 2023, the global cost of cybersecurity would reach $10.5 trillion! It is evident that cybersecurity and privacy trends go hand in hand with technological innovations. At the dawn of… Continue reading Keep Up with 2024’s Top Data Privacy Trends with OpenPages Data Privacy Management