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RMORSA Part 3: Risk Appetite and Tolerance Statement
The third step in the Risk Management and Own Risk and Solvency Assessment Model Act (RMORSA) is the implementation of a risk appetite and tolerance statement. This step is meant to set boundaries on...
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Equifax Data Breach: What Businesses Should Be Doing To Protect Themselves
On September 7, big-three credit reporting company Equifax reported that hackers gained access to the personal information of about 143 million U.S. consumers, and have now recently reported that as...
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A Shift in GRC: Consumers, Reputation, and Ethics
Recently, Forrester Research published “GRC Vision 2017-2022: Customer Demands Escalate As Regulators Falter,” which explores the challenges GRC will inevitably face as it develops and the solution...
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Uber Hack: A Company in Need of Risk Management Rehab
The hot water in which Uber has been simmering has just reached new thermal heights. Back in October 2016, hackers stole the personal data of 57 million customers and drivers containing their names,...
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How to Use the COSO 2017 Framework Update
This September, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published a much-anticipated update to their 2004 “Enterprise Risk Management—Integrated Framework,” a...
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4 Predictions for Risk Management in 2018
2017 presented a whirlwind of corporate scandals: United Airlines, Wells Fargo, Facebook, Uber, Chipotle, Equifax, WannaCry…the list goes on and on. Many of these companies suffered second and even...
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Risk Management and Budget Planning: The Key to Good Forecasting
Here we are. February 2018. For many, February is a trying month. How well are those New Year’s resolutions holding up? Have the early-morning January gym visits started to fade? Are salads getting...
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Widespread Negligence Uncovered Following Oxfam Scandal: Steps to Improving...
Oxfam, one of the UK’s biggest charities, was exposed this month to have had 87 claims of sexual exploitation and abuse involving its workers in the year ending April 2017, a 36% increase on the...
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2018 GRC Market Report Emphasizes New Risk Trends: Reputation, Regulations,...
The Forrester Wave: Governance, Risk, and Compliance Platforms, Q1 2018 evaluates and ranks the 14 most significant GRC platforms available, and LogicManager has been named a Leader! But beyond...
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The State of Risk Management in 2018: Infographic
In today’s see-through economy, it’s crucial that organizations have the right people, processes, and procedures in place to successfully adapt to their ever-changing surroundings. There’s been a...
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Hudson’s Bay Data Breach Confirms the Need for Enterprise Risk Management in...
On Sunday April 1, Retail group Hudson’s Bay disclosed that it was the victim of a security breach that compromised data on payment cards used at Saks Fifth Avenue and Lord & Taylor stores in North...
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Wells Fargo’s Failures in Risk Management Cost $1 Billion Settlement
Wells Fargo has suffered the consequences of repeat scandals since 2016. This week, the bank agreed to a $1 billion settlement with federal regulators who have cited their lack of effective risk...
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The See-Through Economy: New Technology and Risk Management
Year over year, scandals like Wells Fargo, Equifax, Chipotle and so many others have dominated news headlines as they wreak havoc on consumers, investors, and awaken industry and government regulators....
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Wells Fargo Ad Campaign Misses the Mark: Overcoming Failure with Better Risk...
This week, Wells Fargo launched a new ad campaign called Re-Established. The goal is to gain back customer trust after their repeat failures in risk management. It won’t work. I’ve talked a lot about...
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Why Cybersecurity Risk Is a Top Priority: Facts and Figures
Chief risk officers and heads of operational risk responded to a survey held by Risk.net and identified their top risk concerns. Their number one concern was IT disruption, while their second highest...
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Harley-Davidson Moves Manufacturing In Response to Trade War: Was it the...
Back in March, President Trump’s administration threatened to impose steep tariffs on imported goods from some of America’s biggest trading partners. In the following months, the administration set a...
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MSU Creates New Office of Enterprise Risk Management in Response to Nassar...
Michigan State University has employed a new Chief Compliance Officer in response to the Larry Nassar scandal. By creating an Office of Enterprise Risk Management within the university, MSU is getting...
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Do Insurance Companies Really Need Risk Management?
Risk management in the insurance business is a bit of a head scratcher. On the one hand, insurance companies are selling what many people consider to be a risk mitigation. On the other hand, insurance...
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GDPR Readiness: How Do You Stack Up?
The GDPR is the strictest set of data protection rules any nation has published, featuring some of the most severe penalties connected to data privacy seen yet. Now that the compliance deadline has...
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Chipotle’s Outbreak is Their Worst Risk Management Failure Yet: What Can They...
Since 2015, Chipotle has suffered multiple scandals of food-borne illness. The latest Chipotle outbreak has left more than 700 people ill. What does the Mexican grill have yet to learn? In my last...
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