Posts Tagged ‘grc technology’

Thoughts on Compliance, AI, and AML

AI

Accenture published a report Tuesday speculating on the future of financial markets for the next few years, with some thought-provoking points for compliance officers mired in anti-money laundering compliance. First, Accenture estimates the overall cost of risk and compliance for the financial sector at roughly $96 billion annually, and the cost of AML compliance specifically…

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Update on Third-Party Risk Programs

Navex Global gave a sneak peek this week of its latest report on third-party risk. The headline: too many compliance departments still rely on paper-based systems to track third parties, and therefore too many probably underestimate the risks their third parties truly pose. The 2018 Navex Global Third-Party Risk Management Benchmark Report, which surveyed 1,200…

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Two Issues on SOX Compliance

compliance

More than 1,700 audit and compliance professionals have gathered in Nashville this week for Workiva’s annual user conference and the annual meeting of the SOX Professionals Group. Yours truly is on the scene, trying to capture all the good insight and latest news on SOX compliance. Here’s what we have from Day 1. Tuesday was…

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Podcast: Compliance Trends in Finance Sector

AI

Several weeks ago I had a post about compliance trends in the financial sector, based on a report from Thomson Reuters. That report found most financial firms aren’t cutting compliance budgets, and it offered practical insights into how compliance officers might tiptoe into more automation and use of technology. Both issues are important for compliance…

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Getting Started With the Cloud, Data, and Risk

AI

This week I attended Oracle’s Modern Finance Experience conference here in Boston, where financial reporting professionals convened en masse to talk about risk management and new approaches in cloud-based IT to get that task done. Attendees also had the raw thrill of a private concert with the Goo Goo Dolls on Wednesday night, a band I…

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Microsoft’s New Cyber Assessment Tool Just Dropped

cybersecurity

Just in time for everyone gathering at the RSA Conference in San Francisco this week, Microsoft has announced plans to rate the effectiveness of customers’ cybersecurity efforts—and at least one insurance company will start using that score to set prices for its cyber-insurance policies. That move is possible thanks to Office 365, the cloud-based version…

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Talking About Tech Shifts at TEC 2016

Workiva’s TEC 2016 user conference kicked off today, and I have the good fortune to be on site here in San Diego. Today’s main sessions hit on themes of technology power and flexibility—which compliance and audit executives certainly need as they confront the modern regulatory and reporting climate. Workiva started by announcing a flurry of enhancements…

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Project Management Principles for Compliance

I’m always looking for new ways to think about corporate compliance, to see whether that fresh perspective can help compliance officers do their jobs more effectively. Last week I found a great example courtesy of the Institute of Internal Auditors and its guidance for how to audit projects. The guidance caught my eye because I’ve…

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Is This GRC in Our Future?

One of my other favorite blogs about compliance and risk management is the one maintained by ACL, a software vendor that caters to the internal audit industry. Those of you who like to ponder the future of our profession might want to read the most recent post there, “The Maturing World of GRC” by John…

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Compliance Tech Challenges: The T&E Example

There we were last week, 14 of us, sitting around a large restaurant table to enjoy lunch and talk about data analytics tools to help compliance officers do their jobs. One participant vented about his company’s software to track travel and entertainment expenses. “I don’t like it,” the person said. “You get training on how…

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