Posts Tagged ‘risk management’
Bank Regulator Props Up Energy Lending
The Trump Administration is trying to push through a rule that would neuter banks’ ability to consider ethics and reputation issues when offering services — a kiss to the oil & gas industry, and one that would undermine banks’ ability to consider social and ethical factors when evaluating business relationships. The Office of the Comptroller…
Read MoreA Word on Climate Change Risks
So as you may have noticed recently, the world is on fire. And being buffeted by hurricanes. And suffering drought. And watching the polar ice caps melt away like Red Sox playoff hopes every summer. Put simply, mankind is past the point of preventing the deleterious effects of climate change. Those effects are here now.…
Read MoreNew COSO Risk Appetite Guidance
News for all you guidance enthusiasts: COSO just released a 40-page primer on how to define your organization’s risk appetite, and then weave that risk appetite into corporate strategy and decision-making. The booklet is available for free on the COSO website, and is the latest in a series of smaller, focused pieces of guidance that…
Read MoreDeveloping an ‘IDORP’ for Covid-19 Control
Well, here’s a stroke of luck: a compliance officer I know in the tech sector happened to begin a project at the start of this year — developing an infectious disease response program for his firm. Maybe this CCO had a premonition of the future; maybe he had an inkling that Covid-19 would become a…
Read MoreEight Objectives to Manage Pandemic Risks
Companies everywhere are racing to retool their risk management operations to address Covid-19, and I’ve been on a quest to find as much guidance as possible to pass along to everyone else. The GRC software firm Galvanize (formerly known as ACL) just hosted an emergency webinar to talk about how it’s trying to cope —…
Read MoreNew FINRA Guidance on Pandemic Risks
Another day, another gumdrop of guidance from financial regulators that’s worth reading for the whole compliance community. This time it’s FINRA, which published a bulletin Monday reminding broker-dealer firms about how to manage pandemic risk. FINRA has Rule 4370 for broker-dealers, which requires them to draft and maintain a business continuity plan. That rule doesn’t…
Read MoreSurvey: Big Enterprise Risks in 2020
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…
Read MoreOperational Resiliency, Part II
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…
Read MoreThoughts on Compliance Career Risk
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…
Read MoreCompliance Role in 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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