Risk Management


Race2020

NAVEX Global: Top 10 compliance trends for 2020

2020-01-17T19:20:00+00:00By

A recent Webinar, and complementary report, from NAVEX Global offers a look at the top 10 risk and compliance trends for 2020.

Risk

Cyber-threats, regulatory change highlight top-10 risks study

2020-01-14T20:24:00+00:00By

Cyber-incidents, business interruption, and changes in legislation and regulation are the three biggest risks to companies globally, according to research by German insurer Allianz.

2020Strategy

Tip sheet: 2020 priorities for accounting and audit regulators

2020-01-14T15:10:00+00:00By

With the new year under way, we highlight some focus areas of accounting and audit regulators—SEC, PCAOB, and FASB—that should be top of mind for boards of directors.

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White paper: 5 Ways Your COI Process Is Creating Risk

2020-01-14T09:41:00+00:00Provided by

How does your compliance campaign stack up? Does your compliance campaign monitor conflicts of interest?

ESG bank

Fitch Ratings: ESG plays increasingly influential role on bank lending

2020-01-08T18:43:00+00:00By

Environmental, social, and governance factors are increasingly playing an influential role in the underwriting processes of global banks, according to a new report released by Fitch Ratings.

Cyber

U.S. government warns: Be prepared for Iran cyber war

2020-01-06T20:06:00+00:00By

The killing of Iranian general Qassem Soleimani in a U.S. airstrike may bring about cyber warfare, the U.S. government has warned in a security bulletin.

Casino

Casino operators in Japan must gamble on compliance risks

2020-01-06T18:48:00+00:00By

Japan’s plans to launch a casino industry have been marred recently by a widening bribery scandal that highlights the compliance risks associated with the operation.

Wawa

Wawa data breach part of ‘concerning’ industry trend?

2020-01-03T16:58:00+00:00By

While Wawa continues to investigate the source of a widespread data breach that put thousands of customers at risk, its connection to a recent Visa alert suggests other retailers should be on the lookout for similar threats to their cyber-security infrastructure.

Timeline

Compliance 2020: A timeline

2020-01-02T14:03:00+00:00By Compliance Week

Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.

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White paper: Six Steps to Complete Third-Party Risk Management

2020-01-02T07:49:00+00:00Provided by

Ensuring compliance with third-party risk management (TPRM) regulatory and cyber security requirements means having the right combination of processes and controls in place, and that you can efficiently demonstrate these processes and controls to auditors.

Tightrope

Top 10 risks to keep executives on their toes in 2020

2019-12-30T18:42:00+00:00By

A new study from Protiviti and North Carolina State University not only highlights those risks companies should keep an eye on in the coming year—it also prompts leadership to explore whether or not they’re taking enough risks.

riskalert

New COSO guidance addresses cyber-risk management

2019-12-30T17:59:00+00:00By

Boards of directors, audit committee members, and executive management teams interested in learning how to apply COSO’s Enterprise Risk Management framework to protect against cyber-attacks now have new guidance available.

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Top ethics and compliance failures of 2019

2019-12-27T17:13:00+00:00By

From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.

ESG

Compliance playing an increasingly important role in ESG disclosure

2019-12-23T18:27:00+00:00By

Environmental, social, and governance disclosures are becoming common practice, but equally pressing is the regulatory compliance risk associated with non-disclosure or disclosures that are not accurate, truthful, or complete.

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Webcast: Meeting the expectations of the board

2019-12-17T14:13:00+00:00Provided by

This webinar presents the results of a recent industry survey on Board oversight of third-party risk. In an environment of increased business risks, close to half (43 percent) of surveyed practitioners claimed that their board doesn’t have a good handle on third-party risk! Together with a dive into the results, ...

RisksAhead

AGCS report: Five biggest risks for senior managers in 2020

2019-12-16T19:45:00+00:00By

Allianz Global Corporate & Specialty’s latest report highlights five “megatrends” that will have significant risk implications for senior management in 2020 that should be of interest to compliance officers.

Mary Rentoumis

Wells Fargo’s new TPRM head looked to Theranos for lessons

2019-12-16T14:49:00+00:00By

At CW’s Third-Party Risk Management and Oversight Summit, the head of Wells Fargo’s global TPRM group took a few pages out of biotech startup Theranos’ book to shed light on what not to do when building a risk culture.

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e-Book: Thwarting risk in your company's Supply Chain

2019-12-16T05:22:00+00:00Provided by

This e-Book explores the need for effective risk management in the company supply chain.

Technology

International banking regulator: Big Tech ‘may pose risks to financial stability’

2019-12-13T18:29:00+00:00By

Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.

Brockmeyer

Former FCPA chief’s 7 steps to third-party compliance

2019-12-12T21:03:00+00:00By

Speaking at CW’s Third-Party Risk Management and Oversight Summit, former FCPA Unit chief Kara Brockmeyer called attention to recent enforcement actions against Walmart and Ericsson as a way to highlight seven steps to third-party compliance.

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Webcast: How to make TPRM less painful

2019-12-10T14:00:00+00:00Provided by

Today, it’s imperative for companies to manage third-party risk as part of a comprehensive compliance program to protect their brand and avoid exposure to bribery and corruption.

Lender

U.S. lenders feel confident, but why? Compliance, risk challenges abound

2019-12-06T19:53:00+00:00By

Financial institutions are feeling more confident than ever about their compliance management practices, but they remain concerned about the “moving targets” of regulators, new research shows.

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White paper: Vendor Risk: Find It Before It Finds You

2019-12-02T12:22:00+00:00Provided by

It is virtually impossible to move forward in business without vendor relationships, but having vendors also means having potential risk.

jan23

Jan. 23 | Understanding risks & compliance

2019-11-25T20:04:00+00:00Provided by

Fraud and restatements are happening every day, and it’s important to recognize that your company is consistently exposed to risk. Change is constant, and the stakes are high.

ThumbsUp

Data-driven compliance can create business success

2019-11-18T21:41:00+00:00By

Smart uses of data analytics show companies can not only improve their compliance programs with technology, but actually create bottom-line results for their companies as well.

Bribe

U.S. trending up in new TRACE matrix bribery report

2019-11-18T19:03:00+00:00By

The latest edition of TRACE International’s annual Bribery Risk Matrix shows many of the same countries named in last year’s report are still struggling with business-related bribery risk. One country on the rise: the United States.

Tesla

NHTSA probing Tesla for defects that cause battery fires

2019-11-18T16:39:00+00:00By

The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.

Cyber locks

Proactive approach needed in today’s cyber-crime environment

2019-11-18T15:23:00+00:00By

An expert sheds light on behavioral science-driven solutions that help businesses prepare for a breach before it happens.

HighVoltageMoney

Survey: Data use, security among top audit risk areas

2019-11-15T17:19:00+00:00By

Research and advisory firm Gartner has released its annual “Audit Hot Spots” report, which reveals the three top risk areas for internal audit teams and chief audit executives in 2020.

Blockchain

Internal control best practices for blockchain technology

2019-11-14T17:19:00+00:00By

Those in accounting who want to understand better the inherent risks, threats and vulnerabilities, and internal control best practices associated with the use of blockchain technology now have a first-of-its-kind framework to follow.

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White paper: Eliminate Manual Madness to Simplify Your Financial Processes

2019-11-13T14:21:00+00:00Provided by

Learn how to eliminate manual processes and mitigate risks within your month-end close.

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White paper: 12 Lessons from One Trillion Screens

2019-11-13T09:51:00+00:00Provided by

Now that RDC has carried out one trillion screens they assure you, efficient compliance screening is possible.

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Nov. 5 | Building blocks for effective vendor risk management

2019-11-05T14:10:00+00:00Provided by

Your organization probably has some means for managing third-party risk, perhaps most urgently within the onboarding process, or maybe in response to regulatory demands. Yet you probably suspect that there remain untapped opportunities for reducing risk while at the same time reducing overhead. Or for gaining greater control over your ...

CP-carousel

White paper: Leveraging Microsoft Office 365 for Policies and Procedures Management

2019-11-05T04:32:00+00:00Provided by

In today’s business climate, policy and procedure management is essential to stay in compliance and create a solid foundation that will enable organizations to communicate effectively, foster a sense of company cohesion, develop employee engagement, and reduce noncompliance.

BoardInvolvement

Survey: Board governance issues expanding amid volatility

2019-11-04T19:51:00+00:00By

The role board directors of public companies play in providing oversight and governance around business strategy, investments, and policies—and their focus on emerging issues—has reached new heights, according to the findings of BDO’s 2019 board survey.

RiskLessons

Risk management tips from Tullett Prebon compliance woes

2019-10-24T18:57:00+01:00By

The U.K. Financial Conduct Authority fined Tullett Prebon (Europe) Limited £15.4 million (U.S. $19.8 million) after its compliance department failed to implement adequate risk management systems.

world map index

Compliance lessons from recent nine-figure FCPA settlements

2019-10-24T15:46:00+01:00By

Walmart, TechnipFMC, Fresenius—just to name a few—have all fallen prey to the Foreign Corrupt Practices Act in a record year of jacked-up enforcement and sky-high penalties.

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Webcast: Risk associated to your third-party relationships

2019-10-24T14:34:00+01:00Provided by

In today’s ever-escalating regulatory environment, companies are expected to understand who they are doing business with. Ultimate Beneficial Ownership (UBO) is required on a mandatory basis for organizations that fall within the scope of AML and beyond. And while the legislation is complex and a challenge for most organizations to ...

askamii

Ask Amii mailbag: Using compliance skill sets to influence operations

2019-10-22T17:11:00+01:00By

In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.

DataBridge

NIST provides guidance on how to bridge privacy, cyber-security processes

2019-10-18T16:11:00+01:00By

NIST’s new draft Privacy Framework offers much-needed guidance to help companies align their data privacy and cyber-security risk management practices.

CourtRulingBustsBalloon

Labeling employee a ‘compliance risk’ not defamation, says court

2019-10-16T19:51:00+01:00By

A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.

AIdata

Survey: Compliance execs like AI, but not confident they can harness it

2019-10-02T19:45:00+01:00By

Compliance and procurement leaders see the value in using artificial intelligence, but far too many aren’t confident they have the right skills in place to use it, according to a new report from Dun & Bradstreet.

DeloitteSurvey

Survey: Companies believe they've underinvested in TPRM

2019-10-02T18:00:00+01:00By

A new survey published by Deloitte highlights the latest trends—both opportunities and challenges—in companies’ journey toward a more mature extended enterprise risk management program, one in which third-party risk management is integrated across the firm and led from the top.

Food delivery

DoorDash data mishap showcases hazards of third-party vendors

2019-09-27T20:59:00+01:00By

DoorDash announced an incident of unauthorized third-party access to user data—a reminder companies need to mind the cyber-security of vendors in addition to their own.

Microsoft

How Microsoft turned one practitioner into a versatile analytics guru

2019-09-24T19:21:00+01:00By Alan Gibson

Guest columnist Alan Gibson explains how his role as assistant general counsel in Microsoft’s Office of Legal Compliance helped his transition into a world of managing risks through algorithms, machine learning, and digital solutions.

Money

Options Clearing Corp. fined $20M over risk policies

2019-09-05T17:09:00+01:00By

Options Clearing Corp. will pay a combined $20 million in penalties to the SEC and CFTC to settle charges that it failed to implement certain risk management policies as required by U.S. laws and regulator rules.

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Webcast: Keep up with the speed of risk in the digital age

2019-09-05T14:00:00+01:00Provided by

Digitization has ramped up the velocity of risk impact to breakneck speed. Organizations no longer have the luxury to simply check compliance boxes. They need to learn how to keep pace with a constant onslaught of new threats, changing regulations, and higher stakes.

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Webcast: Keys to third-party risk management success

2019-08-29T14:00:00+01:00Provided by

In today’s shifting security and regulatory environment, ongoing third-party monitoring is crucial to compliance success. But how do you keep up with a constantly changing and growing list of vendors? This session will outline the keys to third-party risk management success through a modern approach to monitoring vendors.

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Webcast: Why T&E audit is more than policy compliance

2019-08-22T14:00:00+01:00Provided by

Organizations are failing to solve the employee-spend challenge as travel and expense (T&E) transactions continue to suffer from non-compliance and fraud. Companies also have unnecessarily high audit costs and inadequate risk coverage thanks to manual testing of T&E transactions.

Hong Kong protest

Cathay Pacific execs quit due to Hong Kong protests

2019-08-20T15:19:00+01:00By

Amid pressure from Chinese authorities after initially not penalizing employees for taking part in the Hong Kong pro-democracy protests, two top Cathay Pacific executives have tendered their resignations.