Although CEOs and management teams are responsible for crafting strategic direction, Clark Abrahams says that board of directors need to be involved in strategic planning from the beginning. He offers a playbook idea to give boards a level set of knowledge on everything from competitor and industry analysis to risks and financials. That foundation will help them ask the right questions from the start.
What can corporations and financial institutions do to reinforce or restore the public’s trust? Clark Abrahams says that the answer is easy: improved governance, transparency, a return to fundamentals, and effective stakeholder communication. But this solution starts at the top.
Measuring and managing operational risks is transitioning from intuitive art to science. But introducing quantification to an area that involves qualitative reasoning and subjectivity can be a little daunting. Take a look at Gary Cokins’ risk map – visualize risks on a single page.
An enterprise risk management (ERM) program is more than a collection of organizational functions. ERM integrates all risk efforts under one set of common definitions, process framework and system solutions. Join Mona Leung, a banking and security leader from Alliant Credit Union, to hear how she developed and grew her institution’s ERM program.
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.
SIFMA held its Dodd-Frank Impact Analysis Summit in New York City on July 13. David Wallace was there and returned with the panelists’ comments and his opinions. Read his recap of the discussions and then chime in with what you think the impact will be.
In today’s regulated environment, the business is often asked for information – sometimes the same information – on an almost continuous basis. Learn how collaboration can significantly lighten the burden of audit on your organization.
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.
What you don’t know can hurt you. So what can you do about it? GRC (governance, risk & compliance) is about ensuring that your business is in control. It’s about being proactive rather than waiting to see what happens next. Clark Abrahams lays out simple ingredients for a GRC strategy of Knowing.
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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