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Chris Duden

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So far Chris Duden has created 13 entries.

Finding Issues and Conflicts Before the Regulators Do; A GRC Approach

GRC systems can provide businesses operating in heavily regulated industries a platform to unify risk and compliance processes. Unifying both risk and compliance under one platform is helpful for businesses. It increases the efficiency of both risk and compliance teams by eliminating redundant processes. Management gets enhanced visibility into risk and compliance activities and can monitor both risk and compliance levels under one platform. These monitoring abilities also allow businesses to assess their risk and compliance process efficiency by tracking performance related metrics. In short, GRC […]

Creating an Effective Corporate Compliance Program

Delivering better compliance results by taking a systematic approach
Compliance management programs are important in every organization but are a necessity in any organization that works in a heavily regulated industry. The banking and finance industry and the healthcare industry are two such examples, among many others. To deliver the highest level of compliance it is necessary to tackle compliance in a systematic manner.
The ingredients of a corporate compliance program that delivers results
To create a system within the organization that can consistently deliver compliance and minimize […]

Holistic risk and compliance management

If organizations want to achieve better compliance and risk management, they need to change the way risk and compliance are handled within organizations. Organizations have risk and compliance departments, staffed with highly qualified people, and yet keep running into risk and compliance management related issues. The problem isn’t that their people aren’t qualified or working hard – the real problem is that the organizational framework used by most organizations for risk and compliance management needs to be changed.
Risk and Compliance Management vs. Silos

Problems in risk and […]

How audit management systems help regional banks

Audits continue to be one of the most important tools that financial organizations have for compliance, enterprise risk management, ethics, safety, and much more. Audits are done not just to show regulatory bodies that the bank is performing ethically – they are also necessary to ensure that the organization is moving in the right direction.

Audit management systems provide a single system to manage everything related to audits

Audit management is not a task which should be done manually – it is simply too important. An […]

The New Role of Compliance Managers in the automation era

Automation will end up changing the way we work. The change isn’t far off in the distance or theoretical in any manner – it is already happening. Automation is slowly entering more and more industries and it is now here for compliance. Compliance management systems are automating some of the most frustrating parts of compliance.

However, compliance automation is not working the same way as automation in other industries. When we talk about compliance automation systems, we aren’t talking about replacing compliance officers and managers – we […]

Building a compliance culture to maximize earnings and minimize risks

Risk & Compliance has become one of the biggest ongoing concerns for financial-institution executives. It has always been important but the changing landscape of the financial industry has resulted in an increased importance, more than anything the industry has seen before. This increase in complications and regulations has had many direct and indirect effects on the industry and all the stakeholders in it. It has directly affected the bottom lines of organizations, because of the rise in costs of compliance.

Costs to ensure regulatory compliance have […]

How to Keep Track of Policies?

Just like any other crucial leader of an organization, Chief Financial Officer (CFO) is tasked with critical responsibilities; the most important of them is handling the finances and overseeing the team that is in charge of financial operations. Besides performing mission critical tasks, the CFO also has to innovate and plan for the future. However, the burden of staying ahead of the curve while performing mundane–yet critical–tasks can bring even the most skillful employees to their knees and a CFO is no different. The increasing complexity […]

How an Effective Safety Management System Can Help?

In order to ensure safe and congenial work conditions, companies should employ a safety management system that can lookout for all the anomalies and loopholes in an organization’s safety protocol. Employing Artificial Intelligence (AI) based solutions is a foolproof way to safeguard your employees against potential disasters.

The imperial sugar refinery explosion of 2008 Port Wentworth, Georgia due to a dust explosion is an example of a lacking safety management system leading to a major catastrophe. In spite of three similar fatal accidents earlier in 2003, American […]

GRC Automation: Revolutionize Business through Insight, Intelligence and Integrity

The velocity and scope of changes in processes and technologies for governance, risk management and compliance (GRC) are immense. This demands organizations to have GRC capabilities that not only evolves rapidly, but, also have a greater impact, thus making GRC Automation a necessity.

Automation of GRC enhances an organizations GRC capabilities and revolutionizes businesses by providing insight, intelligence and integrity:

Insight- Automation allows organizations to have data analytical capability, thus providing them the opportunity to use big data approach. Automated GRC systems can instantly aggregate, sort, and analyze […]

Compliance Teams Worried over Governments Increased Scrutiny

Due to US federal investigative and enforcement initiatives, 81% of compliance officers have fearful anticipation when it comes to their personal liability in situations such as privacy and cybersecurity. CCOs Under Scrutiny, the latest DLA Piper’s 2016 Compliance & Risk Report which was in context to the publishing of the Yates Memo, which outlined a plan that clearly mentions  plans to prosecute individual corporate employees and incentivize reforms.

The DLA report was backing up Justice Department’s appointment of Hui Chen as it’s first-ever compliance counsel.

“Between the DOJ’s […]