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
IBM OpenPages GRC Services | GRC Consulting – iTechGRC
Category: Banking (Retail, Commercial and Central), Mortage firms and Credit Union
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
Recapping 2023 ESG Trends for BFSI Companies
Growing concerns about climate change and rising carbon emissions have not singled out the global banking, financial services, and insurance (BFSI) sector. Being the financial watchdog of the economy, BFSI companies have a serious ethical obligation towards sustainability. Emerging ESG trends are proof of this shift. Moreover, moving towards a sustainable economy can help banking… Continue reading Recapping 2023 ESG Trends for BFSI Companies
The Benefits of Integrating Enterprise Risk Management (ERM) and Internal Audit Management for Credit Unions
An enterprise risk management strategy or ERM offers a host of benefits to companies in all industries and business sectors. But the advantages increase exponentially when you integrate enterprise risk management practices with internal audit management activities within your credit union or other financial institution. What is Enterprise Risk Management? And What Are the Benefits… Continue reading The Benefits of Integrating Enterprise Risk Management (ERM) and Internal Audit Management for Credit Unions
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
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