A Risk Assessor Origin Story Courtesy of Stephen King’s IT

*** Warning: This blog contains spoilers for the horror movie IT (2017) and IT Chapter Two (2019). ***   Movies are chockfull of superhero origin stories, but what about us regular risk management folks? Well, we finally have one thanks to horror movies IT and IT Chapter Two, released in 2017 and 2019 respectively. Based

More

Have You Prepared for Climate Change Risk?

Is your bank considering climate change risk when addressing enterprise risk management (ERM)? If not, it might be time to start. Global warming may seem like an abstract concept, but bank regulators across the world are looking at this emerging risk and suggesting that financial institutions recognize its potential impact on economic and operating conditions.

More

Quiz Time! How Did You Get Your Start in Banking?

Risk management starts at the top, but bankers typically start at the bottom. From janitors and tellers to junior loan officers and credit analysts, many CEOs and other C-level executives got their start in the humblest banking positions. But these entry-level bank jobs are more than the first wrung on a ladder to a satisfying

More

Ignore KRIs & KPIs at Your Own Peril: Best Practices for Key Risk Indicators

Stop me if you’ve heard this story before. There’s been significant management turnover at a $1 billion financial institution (FI), and the new management is eager to make an impact. Their solution: a new digital service provider to increase its digital footprint. It’s a project that has a budget impact across all lines of business

More
Risk Assessment Movies

Summer Blockbusters Revisited: Assessing My Risk Assessments

When it can cost nearly $100 to take a family of four to the movies (including snacks, of course), you don’t want to risk wasting your cash on a so-so movie. That’s why earlier this summer I brought my work home with me to risk assess some of the most-anticipated movie sequels, prequels, and reboots

More

Is Your Institution Prepared for These Emerging Risks?

Across the business world, businesses in all industries are worried about the pace of change. That’s according to Gartner’s most recent Emerging Risks Monitor Report, issued last month. Among the 133 senior executives surveyed, 71 percent cited the pace of change as a key risk facing their organizations. Why do executives feel like they won’t

More

6 Silo-Busting ERM Tips

How do seasoned risk professionals fight risk management inertia? They find ways to dismantle silos and develop processes to spark discussion about risk throughout the enterprise. It’s easier said than done, but with determination and a clear game plan, it’s possible. We reached out to professional risk managers for their best silo-busting tips. Here’s what

More

A Model CIO: Equifax CIO Keeps Showing Us How *Not* to Respond to a Breach

The big news out of Equifax this week is its $700 million settlement, including up to $425 million in consumer restitution, as a result of its 2017 data breach, which exposed the private financial data of over 145 million Americans. It’s the most expensive breach settlement ever. While the settlement really drives home the point

More
In this world nothing certain death and taxes

OCC: Operational Risk Remains Elevated

The only certainties in life are death and taxes, the saying goes, but I can think of one more thing: risk. Even as we work to mitigate risks, new ones are constantly emerging. Or, as is the case with cyber risk, old controls become less reliable as fraudsters find ways around them. The Office of

More