March 2018 Issue
No business can operate without taking risks. These risks may be financial, organisational, operational, environmental, technological or political. Perhaps they are economic or strategic. Maybe they relate to compliance or health and safety matters. Whatever their nature, they require careful handling. Therefore, how businesses go about managing these risks is of fundamental importance. Identifying the basic elements of risk and how these elements can affect a business is key, as is having an awareness of cyber security threats, regulatory trends and the overall impact of an often volatile geopolitical and economic landscape. Risk is real, so the response must be robust and unflinching.
FORUM: Managing financial crime risk and AML processes with technology
FW moderates a discussion on managing financial crime risk and AML processes with technology between Nick Parfitt at C6 Intelligence, Steven Beattie at EY, Khalil Maalouf at Skadden, Arps, Slate, Meagher & Flom LLP and Kevin Petrasic at White & Case.
Risk management – impact of increased regulatory risk
Eversheds Sutherland Financial institutions and businesses in the UK and the EU are some of the most heavily regulated in the world, for the purposes of anti-money laundering (AML) regimes and to prevent terrorists financing (TF), tax evasion and market abuse. A key...
The need for curated data for asset managers and institutional investors
Global Risk Management Advisors, Inc. In the last several years, there has been much hype in the media about the importance of ‘Big Data’ and how transformative it will be in producing efficiencies and facilitating better decision making for many businesses and institutions. However, in the...
The innovation of compliance insurance covering costly corporate investigations
Warth & Klein Grant Thornton AG Corporate criminal investigations can take years and sometimes cost hundreds of millions of dollars. There are lawyers, auditors, forensic accountants and others who need to be paid as they conduct the probe. The numbers, in some cases, are eye-popping...
Good risk management matters as much as brand building
Farrer & Co. Businesses rightly focus very heavily on building their brands. However, many businesses are less focused on planning ahead to deal with a crisis or major issue which can fundamentally weaken and even destroy its reputation, by damaging the trust...
Cyber attack – incident response communication
Allen & Overy Any organisation could be subject to a cyber attack. Last year’s ‘WannaCry’ and ‘Petrwrap/Petya’ attacks are the most prominent recent examples to have demonstrated once more that immediate action by companies subject to an attack is key...
Supply chain risk strategies every organisation must know
APICS Risk management traditionally resides within the finance function of an organisation due to its impact on the bottom line. However, many companies fail to separately assess supply chain risk, even though it is becoming a growing concern for those...
Managing the convergence of changing sanctions and the human rights and anti-corruption movements
Miller & Chevalier The challenge of keeping pace with the increased compliance burden posed by US and other sanctions regimes has heightened over the past year. New sanctions programmes have emerged; others have waxed or waned. Furthermore, sanctions tools...
Who owns the commitment to procurement integrity?
Procurement Integrity Consulting Services LLC EY’s 2016 Global Fraud Survey reported that of the 2825 global executives surveyed, nearly half (42 percent) were willing to justify unethical behaviour when under pressure to meet financial targets. The survey further reported that 10 percent would make...
AI in corporate foreign exchange hedging
Lucht Probst Associates Foreign exchange (FX) hedging is a complex and time-consuming endeavour for corporates. To come up with an optimal hedging decision, numerous parameters need to be accounted for. Aside from the market environment, a company’s business model...
To serve your community or sit in jail: is there any reward to this banking risk?
Clark Hill PLC US banks exist to provide financial services to the community they serve, be it local, statewide, regional or national. Bank charters are granted and continuously monitored by regulators to ensure that banks fulfil the needs of their communities...
CONTRIBUTORS
Allen & Overy
APICS
C6 Intelligence
Clark Hill PLC
Eversheds Sutherland
EY
Farrer & Co.
Global Risk Management Advisors, Inc.
Lucht Probst Associates
Miller & Chevalier
Procurement Integrity Consulting Services LLC
Skadden, Arps, Slate, Meagher & Flom LLP
Warth & Klein Grant Thornton AG
White & Case