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As an ever-evolving risk landscape expands the roles of business leaders, they must be ready to build the cross-functional connections necessary to navigate new threats and enable growth. These...
September 6, 2024 | By Eskander Yavar
The world is a complex and unpredictable place, and for businesses operating in an increasingly interconnected global landscape, geopolitical risk is no longer a distant rumble, but a constant storm...
April 26, 2024 | By Tom Thimot
For organizations cementing their approach to financing and managing the financial risk inherent in an M&A transaction, there are important capital markets and financial risk management actions to...
April 19, 2024 | By Amol Dhargalkar
A Gallup survey in June 2023 showed continuation of a long-term trend of “historically low faith” in U.S. institutions, with many of them “at or near rock bottom.” Confidence in big business came in...
March 8, 2024 | By L.A. Winokur
The United Nations wants to maximize the opportunities created by artificial intelligence (AI) and minimize its risks. However, the suggestions made toward this end by the recently created UN AI...
February 16, 2024 | By Alessandro Mauro
Technology governance and risk management have long been tough subjects in corporate boardrooms predominantly populated by non-technologists. Artificial intelligence, and particularly the rocketing...
January 19, 2024 | By David Weldon
When a financial institution fails and its postmortem is written, the focus inevitably turns to culture. For banks, beyond the corporate approach, risk culture is especially important. What does it...
August 18, 2023 | By Tod Ginnis
As chief risk officer since 2019, Senthil Kumar has helped guide BNY Mellon – America’s oldest bank and one of the global giants of investment servicing – through post-pandemic workplace changes,...
August 11, 2023 | By L.A. Winokur
In the 21st century, it seems as if the world has bounced from one financial disaster to the next, with the Great Recession, the European debt crisis and the COVID-19 pandemic among the fiascoes...
August 4, 2023 | By Tod Ginnis
For its 2023 Global Risks Report, the Word Economic Forum asked leaders across academia, business, government, the international community and civil society to rank a series of global risks according...
June 30, 2023 | By David Wheeler
Things had been thankfully quiet on the bank failure front before March 2023. Since aggressive lending backfired in epic fashion in 2007, toppling more than 500 American banks over the next...
April 28, 2023 | By Donald van Deventer
Many governance, risk and compliance (GRC) teams are being asked to find creative ways to do more with less and demonstrate more business value. This will force them into a difficult juggling act....
March 3, 2023 | By Robyn Marsi
Good written risk documentation is both an art and a science. In a perfect world, the writer and subject matter expert (SME) come together as one. Unfortunately, we do not live in a perfect world,...
February 17, 2023 | By John Thackeray
With M&A activity likely to increase this year, excellence in due diligence will be critical for sellers and in particular for acquirers. Yet there are at least two recent examples of due diligence...
February 10, 2023 | By Charles Wendel
With the Ukraine war, supply chain disruptions, rising interest rates and strong dollar, companies face unprecedented worldwide volatility. This environment is accelerating the need for treasury...
January 20, 2023 | By Greg Deveney and Johan Nystedt
In business we trust. According to the 2022 Edelman Trust Barometer, business was the most trusted of four major institutions. Its 61% approval rating topped those of government, non-governmental...
December 16, 2022 | By L.A. Winokur
Coinbase Global, operator of the biggest U.S. cryptocurrency exchange, went public in April 2021. It has been mostly rough going since. The company’s market valuation has plunged, from an initial $86...
August 12, 2022 | By David Weldon
Financial institutions have been attempting to move away from risk silos for years, but true, integrated enterprise risk management (ERM) remains a work in progress. Since some on the business side...
July 1, 2022 | By Tod Ginnis
When risk management veteran Clifford Rossi started out in the 1980s with a Cornell University PhD in Financial Economics and Quantitative Methods, his goal wasn’t to become a risk specialist per se,...
June 24, 2022 | By L.A. Winokur
Our risk management frameworks have not advanced commensurate with the level and trajectory of risk over time. A new paradigm is therefore desperately needed. Take, for example, enterprise risk...
May 13, 2022 | By Clifford Rossi
Edward Jones chief risk officer Christopher Van Buren recently revealed that his biggest career lesson to date is that he “can be the difference.” It is something he said he didn’t have the...
May 6, 2022 | By L.A. Winokur
Historically, compliance and risk management have been viewed as critical functions, but not functions that proactively generate business value. Honeywell’s Amanda Sabates: Visualizing risks and...
April 29, 2022 | By Amanda Sabates
The race is on to be the most sought after financial super app, simplifying access to a full array of banking, credit and other services via mobile devices. Revolut, founded in London in 2015 as a...
April 22, 2022 | By Katherine Heires
Even as data management and technology skills are seen as increasingly essential for risk managers, observers of the profession and of recruiting trends say that longstanding analysis and...
April 15, 2022 | By John Hintze
For the last two years, it feels like we’ve lived in a state of ongoing crisis as unexpected global events have disrupted organizations in every part of the world. From a global pandemic and massive...
April 1, 2022 | By Bogdana Sardak
From consulting firms and think tanks to central banks and the International Monetary Fund, there is no shortage of documentation and data points on the perils of the world and, as categorized in the...
March 25, 2022 | By Jeffrey Kutler
It’s a paradox made more pronounced by the pandemic: People are a company’s greatest resource, and also its greatest risk. Start with all the buzz around the Great Resignation, which saw a record 4.5...
February 11, 2022 | By L.A. Winokur
2021 was a record year for cyber breaches, as reported by the Identity Theft Resource Center. With high-profile attacks hitting the headlines – from SolarWinds to Colonial Pipeline to CNA Financial,...
January 28, 2022 | By Lauren Kornutick
While rising to the challenges of 21st-century crises, chief risk officers have gained in prestige and C-suite positions. Rarely, however, do former CROs become chief executive officers, with...
December 3, 2021 | By L.A. Winokur
Spyro Karetsos was hired as Google's chief compliance officer more than a year ago, but he has not yet actually gone to work - to the office, that is. In fact, everything from the interview process...
October 15, 2021 | By L.A. Winokur
Trust is arguably one of the most important brand assets in business. Every transaction is a promise made, and businesses must ensure they keep their promise to customers - such as delivering goods...
September 24, 2021 | By Michael Campbell
An often-repeated refrain on the topic of boardroom diversity is that it requires a trade-off: sacrificing quality to satisfy quotas. It doesn't have to be - and shouldn't be - that way. Take, for...
September 17, 2021 | By L.A. Winokur
At this time of hybrid working environments, in homes and increasingly back in offices, a prerequisite for an effective, productive organization is a culture of inclusivity and trust. A hybrid...
August 27, 2021 | By John Thackeray
To upend an old adage, it's the worst of times, with the world still reeling from the COVID-19 pandemic and its devastating health and economic consequences. And yet, it's perhaps the best of times...
August 13, 2021 | By L.A. Winokur
In Part I, I explored the concept of Enterprise Risk Management Maturity Models, and how they can be effectively used to identify an organization's current ERM capabilities across multiple...
July 16, 2021 | By David Fisher
I recently had the opportunity to speak with a senior executive at a large financial institution who was wondering aloud why he wasn't getting more value out of his investment in enterprise risk...
July 2, 2021 | By David Fisher
The Black Swan casts a long shadow. The concept illuminated in Nassim Nicholas Taleb's book, required reading in investment and risk management and various other disciplines, seemed to explain so...
June 18, 2021 | By Jeffrey Kutler
Facing super-low interest rates, an onslaught of regulatory developments and the emerging priority of climate risk, banks today are under tremendous pressure. However, despite current challenges,...
April 30, 2021 | By Peter Plochan
The recent SolarWinds incident served as a wake-up call: Having separate cybersecurity, supply chain, and enterprise risk management (ERM) disciplines and units within an organization is increasingly...
April 16, 2021 | By Marianne Bailey, Jason Dury and Kate Sylvis
Desperate COVID-19 times have called for desperate measures, and, as it turns out, a decent-sized dose of TLC. More than a year on, many companies and their executives continue operating in crisis...
April 16, 2021 | By L.A. Winokur
If business continuity is the immediate plan to ensure that a business is able to continue providing services and survive, then operational resilience is the larger strategy that business continuity...
April 9, 2021 | By David LaFalce
An alarming 43% of board members in Europe believe that COVID-19 represents a fundamental threat to the survival of their organization. That's according to a Board Agenda-Mazars-INSEAD Leadership in...
March 26, 2021 | By Haydn Shaughnessy and Fin Goulding
Even Silicon Valley has to face the music. Risk and regulatory pressures are rising for corporations everywhere, so it's not surprising to see some of the biggest names in tech taking steps to be...
February 12, 2021 | By L.A. Winokur
As it does every year, the World Economic Forum identifies and analyzes a long list of threats and hazards - 35 to be exact - in its latest Global Risks Report. One of them stands apart from all the...
January 29, 2021 | By Katherine Heires
Risk is the absence of information. There is risk in absolutely everything we do because we can't possibly know all there is to know. This is especially true in a pandemic. In a COVID-19 world, we...
October 30, 2020 | By David X Martin
The pandemic is all over the news and on everybody's mind. This is especially true of risk managers. It is top of mind as we assess and set priorities in view of increased cyber attacks associated...
September 11, 2020 | By David X Martin
Risk management folks aren't known for being touchy-feely types. But these days, many are mindful of the moment, as companies take stock of their risk management programs and protocols and prepare...
September 4, 2020 | By L.A. Winokur
While continuing efforts to dispel regulatory clouds lingering from the sales-practices scandal that came to light in 2016, Wells Fargo & Co. has adopted a risk management structure that places chief...
August 21, 2020 | By Jeffrey Kutler
In September 2019, Paul D. Fabara became executive vice president and chief risk officer of Visa. Over the previous eight years he held several senior positions at American Express Co., including...
July 2, 2020 | By Jeffrey Kutler
For years, environmental, social and governance (ESG) factors have been a priority among institutional investors. COVID-19 has underscored the significance of the 'S' risk, as the public health and...
June 19, 2020 | By John Hintze
More than 30 U.S. states have decriminalized or legalized marijuana. Many of them declared cannabis products to be “essential,” allowing them to be dispensed during pandemic lockdowns, preserving...
May 29, 2020 | By Ted Knutson
Like many multinationals, packaged-foods giant General Mills relies heavily on sustainable freshwater supplies. It needs neither too much nor too little, and of sufficient quality - a Goldilocks...
May 8, 2020 | By John Engen
When the time comes to judge who knew what, and how early, about the coronavirus pandemic, and whether public health alarms were too late, there need be no blame or shame at the World Economic Forum....
May 8, 2020 | By Ted Knutson
Crises labeled as unprecedented catastrophes create unnerving anxiety. Suddenly, issues that seem abstract in everyday life become critical, with no definitive answers: How bad will it get? Whose...
May 1, 2020 | By Karamjeet Paul
The coronavirus pandemic has set off a wave of financial and operational disruption - as in the case of remote work arrangements - causing sudden shifts in risk exposures and mitigation measures....
April 3, 2020 | By Katherine Heires
William Isaac, a former chairman of the Federal Deposit Insurance Corp. and of Fifth Third Bancorp, and Howard Milstein, a prominent New York banker and real estate developer, have formed a strategic...
March 27, 2020 | By Ted Knutson
Many firms recognize that climate financial risk is a complex, far-reaching risk with unknown systemic consequences that could affect all parts of their portfolio. However, they are grappling with...
February 28, 2020 | By Maxine Nelson
Market data company CryptoCompare maintains a ranking of cryptocurrency exchanges according to what it terms “a clear methodology to assess risk.” Released on February 12, the latest iteration of the...
February 21, 2020 | By Ted Knutson and Jeffrey Kutler
For the first time in the 15 years of the World Economic Forum's Global Risks Report surveys, the five highest-ranking risks in likelihood over a 10-year horizon are environmental: extreme weather,...
February 7, 2020 | By Katherine Heires
Corporate executives are contending with so many potential risks that, depending on fast-changing economic and market developments, some have to take priority over others. Among those bubbling to the...
January 17, 2020 | By Katherine Heires
New technologies have broadened and sped up the communication and analysis of data, changing the nature of risks that companies face and how to mitigate them. Banks, for example, have long tended to...
January 10, 2020 | By John Hintze
Climate change and income inequality are issues usually associated with progressive political agendas and denied or demurred on the conservative side. Aparna Mathur, resident scholar at the...
January 10, 2020 | By Ted Knutson
If a company wants to minimize the effects of risk on its capital and earnings, reputation and shareholder value, it must implement a comprehensive enterprise risk management (ERM) program. A...
January 3, 2020 | By John Thackeray
We intuitively understand accounting measures such as profit or equity. The corporate world places great reliance on them. For example, they are used to communicate and evaluate a firm's financial...
December 13, 2019 | By Peter Hughes
More than a year and a half since the European Commission published its Action Plan on Financing Sustainable Growth, an EU official told a financial industry gathering in Washington, D.C., that he is...
November 27, 2019 | By Ted Knutson
Contrary to the current contemporary narrative around climate change, from a risk manager's perspective, the scientific and political argument around climate change is now over. Governments and...
November 1, 2019 | By David Kelly
Cybersecurity, geopolitics, third-party relationships, social media and reputational threats factor into a fast-changing, increasingly complex risk landscape, as revealed in the Kroll Global Fraud...
October 18, 2019 | By Katherine Heires
While resiliency has always been a cornerstone of risk management in financial services, the focus has shifted considerably over the past two decades, from an emphasis on business continuity and...
October 4, 2019 | By Andrew Gray
With the financial consequences of climate change increasingly capturing boardroom attention, and under the spotlight of Climate Week events coinciding with the United Nations General Assembly...
October 1, 2019 | By Katherine Heires
That the world is warming is increasingly undeniable, and by all observations and credible scientific projections, the consequences of this warming will grow more far-reaching and disruptive to our...
September 27, 2019 | By Stacy Swann and Alan Miller
Global temperature change ranks No. 1 on a list of 15 extreme risks compiled by the Thinking Ahead Institute (TAI). The institute, a not-for-profit outgrowth of Willis Towers Watson Investments'...
September 24, 2019 | By Ted Knutson
Senior management “cannot anticipate every problem,” Jacob Rosengarten points out. That is where a well-functioning corporate culture, relying on the observations and actions of “people who are...
August 23, 2019 | By Jeffrey Kutler
To assess how rapidly the field of risk management - and the skills required of risk professionals - are changing, Frank Roncey looks through the lens of data. “The way we understand data, the way we...
August 16, 2019 | By Jeffrey Kutler
The presidential nominee of the European Commission recently endorsed the idea of creating a European bank focused on climate change, and the European Union is trying to figure out how to eliminate...
August 9, 2019 | By Robert Sales
Like other central bankers and regulatory officials who had a front-row seat on the financial crisis and contributed to the recovery efforts that followed, William C. Dudley took certain lessons from...
July 26, 2019 | By Jeffrey Kutler
In today's world, it's becoming impossible to ignore the rapid shifts taking place in relation to the environment, society and corporate governance. Business models are evolving, as are the wide...
July 26, 2019 | By Robert B. Hirth and Rodney Irwin
The treatment of climate risk at financial institutions has changed significantly over the past five years. Whereas it used to be viewed mostly as a reputational risk that could be addressed through...
June 28, 2019 | By Jo Paisley and Maxine Nelson
The Institute of Internal Auditors has opened a public comment period on proposed updates of the risk management and control model known as the three lines of defense. A milestone in a year-long...
June 21, 2019 | By Jeffrey Kutler
In 2018, John Turpen completed a nine-year run with U.S. Bancorp. He had risen to chief risk officer of corporate and commercial banking at the Minneapolis-based banking company after previous stints...
May 10, 2019 | By Jeffrey Kutler
Risk professional jobs will be saved - or less jeopardized - by the superiority of humans over artificial intelligence and machine learning in dealing with behavioral matters, according to State...
April 18, 2019 | By Ted Knutson
In response to a growing body of evidence that competitive returns and societal benefits are not mutually exclusive, investor demand for socially conscious investments has surpassed $20 trillion in...
March 8, 2019 | By Desiree O'Niell
Ken Phelan, who in November 2014 became the first chief risk officer of the U.S. Treasury Department, stepped down as of early February. His departure also created a vacancy at the Office of...
February 15, 2019 | By Ted Knutson
The World Economic Forum Global Risks 2019 report paints a grim picture of complex, intensifying and interconnected risks - most urgently “geopolitical and geo-economic tensions” - and a world...
January 25, 2019 | By Katherine Heires
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