The financial services sector undergoes constant changes, which include expanding organizational risk profiles, stricter regulations, and increasing stakeholder expectations. These factors create a demanding assurance landscape for internal audit teams. However, traditional internal audit processes and outdated technology hinder real-time visibility into risks and impede the flexibility to address these changes effectively. To tackle these… Continue reading Agile internal audit management: Complying with industry’s dynamic regulations and beyond – A financial services perspective
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
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
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
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
Enterprise risk management is a highly dynamic and complex discipline, with companies investing a significant amount of time, money, and effort into neutralizing threats and mitigating risks. To achieve their risk management objectives, an increasing number of businesses are leveraging tools such as IBM OpenPages. This artificial intelligence-driven governance, risk, and compliance software platform —… Continue reading How IBM OpenPages User Interface Improves Risk Management
Visualization reporting has gained tremendous popularity in recent years, alongside the rise of big data and analytics technology. An increasing number of business leaders and key decision-makers are leveraging visualization reporting in their efforts to make data-driven decisions. Whether it’s business strategy development, the creation of a new company-wide marketing plan, or coming up with… Continue reading What is Visualization Reporting and How Does it Help Mitigate Risk?
Banks and financial institutions confront serious risks on a daily basis, with many of these threats being unavoidable due to the very nature of the banking industry. This underscores the importance of developing a comprehensive risk management strategy that works to mitigate and largely neutralize threats, bringing them down to a more reasonable and manageable… Continue reading How to Spot Compliance Issues Quickly with a Risk Management Dashboard?
Banks and other financial institutions such as credit unions, lenders, and financial service providers face a rich and expansive risk landscape. This necessitates the development of a comprehensive risk mitigation strategy that is architected around the banking institution’s unique operational processes, strategies, and procedural processes. But before you can begin developing a winning risk management… Continue reading Processes that Expose Your Bank to Risk
Data management is a common area of concern when it comes to risk management and regulatory compliance. Business leaders in all industries and sectors will need to confront the issue of data management sooner rather than later if they are to avoid regulatory fines, penalties, and even some serious legal troubles. From a regulatory compliance… Continue reading Addressing Data Security Challenges With Risk and Compliance Solution Companies