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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

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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

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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

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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

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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

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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

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GAO-Report

GAO Grades Regulatory Agencies on Risk Management Supervision

It’s no secret that poor risk management at large financial institutions, including at the board level, helped bring about the last financial crisis. Since then regulatory agencies have developed new policies and procedures to address risk management and other weaknesses. Recently the U.S. Government Accountability Office (GAO) investigated banking agencies’ supervision of large banks and

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trees forest

Wishing for More Regulatory Tailoring? You’ll Love Risk Management

In a world where bankers feel overwhelmed and disadvantaged by a seemingly one-size-fits-all regulatory environment, there remains one place where a financial institution has the freedom to do things its own way. It’s a place where best practice dictates that a financial institution’s size, business lines, geography, and complexity be the deciding factor in how

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NGAGE 2019
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