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About Raza Shahid

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So far Raza Shahid has created 37 entries.

Are Robots Taking over Banking Industry?

A recent Business Insider survey of chief technology officers, entrepreneurs, chief innovation officers and startup founders found out that financial industry was bracing for “automation” in the next decade. Many of us have the inherent fear that technology is all about replacing humans. But Fintech is all set to embrace automation with a clear intention of “helping and improving” human input – without ditching them.

Technology terms like artificial intelligence, robotics, mobile computing, machine learning and big data are getting embedded into financial sphere at a faster […]

Top 3 Ways to Avoid OSHA Fines & Ensure Workplace Safety

Why was Occupational Health and Safety Administration (OSHA) created? Simply to ensure employee well-being and safety by devising strict rules and policies that made sure regulatory compliance was observed. Employee safety is insured if likelihood of death or injuries are reduced by strictly adhering to the rules and standards.

But it gets worst. OSHA shared 2014 workplace accidents figures that showed a grim picture:

4,281 deaths in the workplace in 2014
On average, 12 workers are killed each day 

In case of non-compliance, OSHA makes sure companies strictly follow their […]

OSHA Safety Violation Fines Increased by Almost 78%

It’s a significant increase since 1990 that went LIVE on 1st August 2016. The maximum penalties have been increased by almost 78% as OSHA was previously exempted from raising them. It has been eliminated in the fiscal year 2016 budget agreement. This raise was part of “adjustment for inflation” which is based upon Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.


These rates are based upon Consumer Price Index and are adjustable by on case by case basis:

What are the fines for OSHA violations?

Type of Violation

Current Maximum […]

Difficult Times: Goldman Sachs Sued for $510 million along with Regulatory Penalties?

Regulatory misconduct?
Although the Malaysian High Court dismissed a similar suit, the private equity firm is pursuing the case against Wall Street giant for $510 million. The plaintiff claims Goldman Sachs alleged wrongdoing has cost them $170 million.

Primus Pacific Partners has claimed that Goldman Sachs and a former MD Tim Liessner had mislead private equity firm about their relationship with Malaysian Prime Minister and his government owned investment fund 1Malaysia Development Berhad, or 1MDB.
Goldman Sachs concealed “it’s close relationship and incentive to curry favor with the Prime […]

Port of Houston Poised for Big Growth

With hopes for a bright future and thriving watercourse, the initial evaluation and research for the new Houston Ship Channel Expansion Channel Improvement study is underway. This potential mega-project represents a great opportunity to modernize the Houston shipping channels and help assure that the Port of Houston continues to serve its community, provide jobs and remain a hub for commerce.

As ports and private sector entities make these improvements, a key element in the planning phase is evaluating the disposal or use of the material to be […]

Why Automate Your Governance Risk and Compliance (GRC) Functions

The world of GRC is ever evolving. With many organizations being heavily regulated, the idea of staying compliant with changing regulations, and policy & procedures is an on-going challenge. Almost daily one can come across a news item informing us of penalty or fine imposed on companies which are negligent in staying compliant with the ever changing sea of regulations. How to overcome this ordeal seems like an impossible task, however, with the growing trend of having the GRC functions automated such issues can be addressed […]

What are Best Practices for Hotline Reporting?

In the days before the Sarbanes-Oxley Act (SOX), a hotline reporting program was often viewed as a luxury rather than a necessity. However, in the 12 years since the law passed, the anonymous hotline has become an essential part of any successful ethics and compliance program. Hotlines have become a critical means for detecting any kind of misconduct within an organization and have led to high-profile investigations. They also serve as a way to gauge the effectiveness of an organization’s ethics and compliance initiatives, and can […]

Why Banks are Apprehensive to Fully Embrace Fintech

Last year, Fintech investment grew 44% to $14.8 billion, aiding the development of digital tools in areas such as mobile payments, money transfer, lending and alternative currencies. So why are incumbent financial institutions apprehensive about jumping in?

The regulatory framework dictating how banks can use emerging technologies is not very well-defined, leaving banks to guess how a regulator will react to their involvement in tech venture. As a result, financial institutions often remain wary about working with young innovative technology companies even when the resulting benefits may be clear. […]

Why Automation Means Fewer Control Violations Involving Audits

In today’s complex and regulated environment for financial institutions, there has never been more pressure on finance leaders to ensure integrity in internal auditing and controls. Boards of directors want assurance that official financial statements are squeaky clean, with every piece of data in tables and in footnotes double-checked. There’s zero tolerance for funny business, such as a business unit booking revenue in one-quarter while pushing related costs to the next.


In the digital age, manual/random audits no longer cut it. Companies with millions of transactions to audit need a more reliable […]

Why Performance Management Matters

Your business is growing fast, and it’s time to think about implementing or revamping your performance management process that will create an amazing employee experience and help drive your business forward. Your employees are your most valuable asset to help your business grow. So what can you do to engage your top talent, help them work smarter, and be more productive?

The most important thing about the Performance Management process is that it really is “all about people” – how they feel about their job, how others feel about the […]