Risk Management

Newly released guidance from the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) warns financial institutions about the warning signs and suspicious activities that may indicate human smuggling and trafficking and how to report those discoveries. “Financial institutions, large and small, can play a critical role in identifying and reporting transactions related to these unlawful activities […]

Convercent recently announced the launch of its risk management solution that weaves risk throughout the Convercent platform to better prioritize compliance and risk management efforts. Convercent offers a single software solution for compliance tools and data to work together to address an organization’s most pressing risks, enabling compliance professionals to design a risk-based program; implement […]

As expected, and long-anticipated, the Financial Stability Oversight Council has initiated a process that could lead to insurance giant MetLife being classified as a systematically Important Financial Institution, subjecting it to greater regulatory expectations and capital requirements. In a statement, following a closed session at the Treasury Department, the FSOC provided only sparse information about […]

The Office of the Comptroller of the Currency has published final guidelines intended to strengthen the governance and risk management practices of large financial institutions. The guidelines apply to insured national banks, insured federal savings associations, and insured federal branches of foreign banks with $50 billion or more in average total consolidated assets. They also […]

Amber Road, a provider of global trade management solutions, announced that the Acteon Group, a global integrated subsea services provider, has chosen Amber Road to automate and standardize restricted party screening across all of its worldwide branded services. Until now, the individual Acteon branded services tracked and managed their trading partners independently and mostly manually, […]

I have spent almost twenty years as an auditor; externally, internally, or training auditors. When discussing the subject of risk assessments and annual audit plan development, I am reminded often of a quote from Winnie the Pooh. “Here is Edward Bear, coming downstairs now, bump, bump, bump, on the back of his head, behind Christopher […]

The emergence of corporate bring-your-own device initiatives is great for employees on the go and appreciated by time-strapped managers. It is also a potential nightmare for compliance personnel because failing to comply with data security and privacy regulations can result in large fines, litigation, and damage to a company’s reputation. In this edition of the […]

Grant Thornton announced this month that it has hired Ilieva Ageenko as a managing director and leader of its financial services advisory model risk management practice. Most recently, Ageenko was a senior vice president and quantitative risk executive at Bank of America, where she led the enterprise quantitative risk technology organization, built and managed data […]