Allianz CIO John Knowles discusses the role IT has in ensuring that the business has the data it needs in a way that it can use it: My role as the CIO is to build a collaborative relationship with the business units, insuring that the units have what they need when they need it.” He says there’s a whole new world of information out there; our job is to figure out how to use it.
Dr. Howard Rubin gives a high-level assessment of the cost of data, both to financial services firms and to organizations at large. His assessment brings home the ringing statement, “It’s the data, stupid.” Does your firm value its data as a corporate asset?
The Board’s responsibility is to understand the organization’s data gathering process, and then ask the right questions about the results. Here are some questions to get you started on the right path.
Given the increase in fraudulent claims, it is imperative for insurance companies to leverage technology as a key enabler to combat crime-ring-based fraud. Read this article to learn why predictive analysis is important for insurance fraud protection.
Though strategic scorecards and dashboards can help approach an organization’s mountains of data, they still involve guesswork and intuition – risk. Analytics can help an organization sort through its data and filter out the “noise” when it comes to tracking metrics and KPIs, making it possible to act on fact.
Economic downturns will always be part of the business cycle. Read this advice from Wim A. Van der Stede, CIMA Professor from the London School of Economics and Political Science, on how organizations can adopt reliable risk management “through the business cycle” to deliver sustainable performance.
How are you addressing ‘involuntary corporate transparency’ forcibly imposed by social media and Wikileaks? Read this article for some tips for preventing most leaks including automating processes, proactively monitoring issues and providing a safe environment to communicate GRC issues internally.
Can banks use data analysis to play ‘Moneyball’?
Are organized fraudsters winning the big data battle?
Turning a cost center into a money generator
Attending the ACFE Fraud Conference and Exhibition?
Plan to attend Increasing Investigator Efficiencies
When: Wed., June 30, 8:30-9:50a.m.
Where: Orlando, FL
Featuring: David Stewart and Dan Barta from SAS’ Fraud and Financial Crimes Practice.
Organized fraud is a growing problem, in large part because it is so hard to detect. In this session, we will show customer examples of how Entity Link analysis improves investigator efficiency by reducing the time spent investigating false-positive alerts and prioritizing events before presenting to investigators. Investigators can now work many times the number of cases and focus on higher-value networks.
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