April 2016 Issue
For financial institutions and the like, the management of the risk exposures they face – be it political, economical, regulatory or issues pertaining to cyber security issues – is of paramount importance. Indeed, numerous surveys and reports (such as Deloitte’s biennial survey on risk management practices) makes it very clear that, following the financial downturn, heightened regulatory requirements and scrutiny over risk management and governance have led financial institutions to increase their risk management budgets (more than two-thirds of financial institutions reported an increase in spending on risk management and compliance in 2014 according to Deloitte) and bolster their governance programmes. Increasing overall risk management and compliance efforts is key – not only for alleviating ever-increasing regulatory burdens, but to effectively embed risk management practices within a financial institution’s framework, philosophy and culture.
FORUM: Use of Big Data and data analytics as part of a risk management strategy
FW moderates a discussion on the use of Big Data and data analytics as part of a risk management strategy between Paul Oughton at Advent IM, Michel de Goede at Alliander, Daniel Miessler at IoActive Inc, David Navetta at Norton Rose Fulbright US LLP, and Raj Kushwaha at Warburg Pincus LLC.
Effective board governance: the healthy tension between management and the board
RSM US LLP In this age of heightened risk, the need for effective governance has caused a dynamic shift in the role of the board of directors. Cyber security, rapid technological growth and a number of corporate scandals resulting from the financial...
Avoiding the patchwork problem: effective corporate social responsibility compliance integration
Foley Hoag LLP Implementation of corporate social responsibility (CSR) commitments is being increasingly recognised as an integral part of corporate efforts to prevent and mitigate legal and operational risks, and to gain and maintain the trust of key...
Control the controllable: lessons from farmers for corporate leaders
Solon Group, Inc. The phrase ‘risk management’ has become a mantra for enterprises large and small since 2008. Can risk be managed? We love to believe it can be identified and quantified and bucketed along with lots of other aspects of running a...
Managing reputation risk, a low-tech, high-touch, cross-functional process
Reputation Economy Advisors LLC Reputation risk is the largest, scariest and least manageable of all operational risks, by far. The fall of 2016 will mark the fifteenth anniversary of Enron, 15 years where negative reputation events have become commonplace in almost every...
Integrating security into broader risk management
ISACA It’s a fact that today’s businesses run on technology. The business applications we deploy help organisations be more efficient, help them service larger markets, and help business teams be more agile and move more quickly. More broadly...
Advent IM You’ve heard about it in the news, no doubt seen an increasing number of people offering to ‘analyse’ it for you and you’re more than likely responsible for generating some of it; but what is Big Data and what should it mean for you and your...
Legal data domain: legal vs. the rest of the bank
D2 Legal Technology LLP Historically, in-house legal teams, IT – or reference data and system architects – and downstream consumers of data have existed in different worlds. The in-house legal role traditionally has been restricted to advisory guidance, both transactional...
Hogan Lovells US LLP A bank texts a customer to notify him about a low balance. Then, despite its good-faith efforts to comply with the US Telephone Consumer Protection Act (TCPA), the bank receives a class action complaint alleging millions of dollars in...
Solvency II – pushing existing systems and processes harder is not enough for compliance
Tagetik UK In January 2016, Solvency II, the new insurance industry regulatory regime, established capital requirements and risk management standards designed to increase policyholder protection across the whole of the European Union...
Top supply chain accountability risk trends for 2016
Clark Hill PLC The Collins online dictionary defines the phrase “name and shame” as “to reveal the identity of a person or organization guilty of illegal or unacceptable behaviour in order to embarrass them into not repeating the offence”. This concept...
Identifying and managing hidden enterprise contract risk
Exari It is no secret that big financial institutions have been inundated by the regulatory penalties that have been levied since the financial collapse in 2008 and the passing into law of the Dodd-Frank Act. Unfortunately, these businesses can only...
The role of the trade compliance manager
TozziniFreire Advogados The increasing internationalisation of companies around the world, including inflows of foreign investment and the use of a global value chain, has elevated the importance of international trade activities. However, international trade operations...
CONTRIBUTORS
Advent IM
Alliander
Clark Hill PLC
D2 Legal Technology LLP
Exari
Foley Hoag LLP
Hogan Lovells US LLP
IoActive Inc
ISACA
Norton Rose Fulbright US LLP
Reputation Economy Advisors LLC
RSM US LLP
Solon Group, Inc.
Tagetik UK
TozziniFreire Advogados
Warburg Pincus LLC