Advanced technology is taking charge in fighting financial crimes Developments in technology and economic globalization make sending money anywhere in the world faster and easier today than ever before. However, with these developments comes an increasing challenge to identify and prevent financial crimes such as money laundering and other illicit economic activity. The United Nations […]
Operational Risk
Creating Value in Operational Risk Management Through Behavioral Science
One of the greatest risks to the success of an organization is human error, an operational risk that exists within every organization. Human errors lead to accidents, legal issues, financial costs, and many other risks that adversely impact an organization all over the world. But what if there were ways to implement human risk control […]
ERM Adoption Struggling to Keep Pace in Today’s Complex World
It has been a decade since the Great Recession hit our country, threatening to end the American way of life through an economic meltdown. In hindsight, the 2008 sub-prime loan crisis can go down as one of the greatest cumulative risk management failures in U.S. history. When rewards increase, the risks always follow suit, a […]
How to Get The Most Out of a Risk Heatmap
Risk heatmaps are a common tool for many risk managers. A risk map is built by plotting the frequency of a risk on one axis of the chart and the severity on the other. Frequency is how likely the risk is or how often you think it will occur, while severity is how much of […]
Executive Perspectives on Top Risks for 2018
In the end of 2016 we reported Protiviti’s findings and views on the 10 top risks for 2017, based on Protiviti’s fifth annual risk survey of directors and executives, in partnership with North Carolina State University’s ERM Initiative. Similarly, Protiviti has published their Executive Perspectives on Top Risks for 2018. Highlights resulting from this year’s results Organizations […]
The Global Risks Report 2018
Similarly as last year, we are publishing the most recent Global Risks Report 2018, 13th Edition, by the World Economic Forum. At a glance, the Global Risks Landscape will give us a clear overview of the Risks considered for 2018, from an impact and likelihood perspective, with the risks being laid out in a matrix […]
2017 Global Risk Study – Banking
By the mid-2020s, banking should look very different. By then, the disruptive forces in this decade of change should have consigned time-worn business models to obsolescence. To survive—and thrive—banks should take swift action. While the risk function is focused on managing new competitors and new risks, it is also expected to drive efficiency and make […]
Risk Agenda 2025: Hear from the experts
The Institute of Risk Management (IRM) talked to some experts in Risk Management and collected opinions and insights about where this discipline is headed. These are a series of very interesting interviews and videos that reflect what the IRM labeled “The Big Debate“. Expert names include Norman Marks, Bill Stein, Felix Kloman, among others. Click […]
