Protiviti has just released its annual survey of enterprise risks that worry corporate leaders. Economic conditions and regulatory change topped the list, and apparently CFOs, chief risk officers, and internal auditors see bigger risks afoot this year than CEOs and board directors do. The survey, Executive Perspectives on Top Risks 2020, comes out every year…

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operational resiliency

Well this is convenient: one week after we had a post exploring the intersection of operational resiliency and compliance, two examples of the issue ripped from the headlines show just how much this obscure idea has real impact on compliance professionals’ lives. First, one of the Federal Reserve’s top regulators said last week that the…

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career

Last week I had a chat with a mid-career corporate audit professional. She was a terrific person — good experience, thoughtful professional, well-spoken — but also out of a job, and somewhat out of sorts.  We’ll call my friend Jane. She had been working at a tech company that had raised an impressive amount of…

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operational resiliency

“Operational resiliency” is one of those phrases in corporate compliance and risk  management that, let’s be honest, sounds boring as hell when you first hear it.  Like so much else in this field, however, it’s not boring once you consider what operational resiliency actually means — which is exactly what several dozen compliance professionals did…

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lessons

America recently had yet another tragedy of a police officer shooting someone in her own home by mistake, in an incident fraught with questions about racism and overzealous policing. Compliance officers should study this case because it offers some important lessons about risk management. You might already know the story by now. Atatiana Jefferson, a…

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operational resiliency

The Institute of Internal Auditors just dropped an unsettling new report on the state of risk management. Namely, corporate board directors believe their organizations are better at managing key risks than corporate executives do — and an uncomfortably high number of executives and directors say that misalignment is OK.  The report, OnRisk 2020: A Guide…

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mylan

Compliance officers often worry about the threat of siloed risk management, where one part of the enterprise is addressing a risk without keeping other parts fully informed. The Securities and Exchange Commission recently served up a good example of how that threat comes to pass, in the case of Mylan and its improper charges for…

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internal audit

Internal audit professionals, fire up your keyboards. The Institute of Internal Auditors is calling for public comment about possible updates to its Three Lines of Defense model of risk assurance. The proposed updates are now available on the IIA’s website. You can download, read, and ponder them at your leisure; and start offering feedback on…

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boeing

Boeing’s missteps with the 737 Max jet offer many powerful lessons for corporate compliance, audit, and risk executives. Our latest lesson comes from an in-depth article in the New York Times, examining the decisions Boeing made about the jet’s design and subsequent pilot training, and the terrible consequences that followed. Every compliance and audit professional…

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operational resiliency

We have another Radical Compliance podcast to start the week, this time catching up with those folks at Deloitte who recently published a report urging companies to do a more disciplined job with enterprise risk management. The report, published two weeks ago, surveyed 500 senior executives at large U.S. firms across a range of industries.…

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