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So far Sarah Hamilton has created 236 entries.

Leading with Vision – How Risk Technology Helps Organizational Leaders 

“One of the tests of leadership is the ability to recognize a problem before it becomes an emergency.” – Arnold Glasow

Organizations depend on their leaders for guidance, strategy, and direction. Any organization that wants to grow wants its leaders to make the best decisions possible. Managing risks is one of the most critical tasks a department leader has in a financial organization. No project or task can be completed successfully unless all the associated risks have been managed or mitigated adequately. Yet, there is a […]

How Does Machine Learning Impact the Future of Risk and Compliance Management?

Machine learning has been an essential topic of discussion in different industries over the past decade. Machine learning is not a new technology; the concept has existed for multiple decades, and the technology itself is more than two decades old at this point. However, the technology was not easy to use and not financially viable for commercial usage until this decade. Like all other businesses, financial organizations are excited at the prospects of machine learning in many different domains.

Machine learning is already being used […]

How Complaints Can Provide Insights for Risk and Compliance Managers

Complaints have always been important for businesses. Managing complaints properly is critical for several reasons. The most obvious reason is that it is a core function of customer service to ensure those customer complaints are dealt with. However, most organizations utilize complaint data for much more than just replying to the complainants. This data can highlight problems in service delivery, which helps the organization improve its processes. Increased synergy in financial organizations is enabling risk and compliance managers to go one step ahead and leverage complaint […]

COP26 Finance Day Puts the Focus on the Role of Financial Organizations

Climate change is one of the significant points of discussion throughout the world for policymakers. The Finance Day of COP26 focused on how the financial sector of the global economy can play a role in helping manage climate change and reach the goals many countries have set to lower emission levels and pollution.

The ideas put forward at COP26 and previous similar conferences present the financial perspective on climate change.

Mark Carney, who is the UN Special Envoy for Climate Action and Finance talked about how the […]

The Limits of Spreadsheets Versus Risk Management Platforms

Spreadsheets are a common way to store and analyze data in businesses operating in every industry globally. As good as spreadsheets are, certain limitations show up when it comes to specialized domains. Risk managers have used spreadsheets to collect risk data, track the progression of different tasks, create risk models, and much more. However, modern risk management platforms provide a much more robust toolset to risk managers and have made spreadsheet-based risk management an obsolete practice for efficiency.

The Limits of Spreadsheets

While spreadsheets may […]

How Real-Time Risk Analytics Help Financial Organizations

Real time risk analytics is one of the most revolutionary parts of modern risk management frameworks. It is important to remember that previous to data analytics tools, it was almost impossible for most banks to access analytics in real-time. Banks and financial institutions collected risk data in spreadsheets and documents. Analysis of risk data was only possible after it had been cleaned up and standardized to be used for analytics. The steps involved meant that almost all the graphs and reports management had were based on […]

5 Significant Benefits of Regulatory Change Management Technology

Most organizations implement regulatory change management technology to improve their existing RCM (Regulatory Change Management) practices and processes. However, Regtech (regulatory technology) goes beyond simply speeding up a few processes. It completely reworks the regulatory change management framework and synchronizes it with the risk and compliance management frameworks. This results in many benefits that help banks and financial institutions achieve their corporate objectives.

1 – Advancing Innovation

Regtech can assist banks and financial institutions in innovating at a faster rate. Regulatory changes occur more rapidly in […]

Understanding the Compliance Risk Priorities of Businesses in 2021

The biggest institutions and organizations in the country have always been pioneers in managing risk and compliance. While their needs may sometimes differ from smaller businesses, their insights and analysis can guide the industry. There have been shakeups and changes in many major American corporations over the past few months focused on compliance management. Businesses know that improving compliance and risk management requires a holistic solution.

Listening to the Experts

New compliance managers at some of the biggest businesses and institutions in America are […]

How Risk Managers Can Deliver More Value to Their Organizations

While this is a critical time for risk managers across the financial sector, it is crucial to realize that this is also an opportunity for risk managers to increase value for their firms. Businesses will demand a high level of risk knowledge and forecasting to negotiate the developing regulatory landscape while maintaining crucial customer service delivery. Risk managers can boost the value they bring firms by utilizing several tactics and tools.

Monitoring Key Risk Indicators (KRI)

KRI software provides risk metrics insights to executive decision-makers. […]

Getting Insights from Risk Reports

Risk reports should assist management in identifying errors and correcting courses before it is too late. This demands improved risk reports that contain more accurate data and information. These reports are a critical component of any good risk management system, that is why bankers are increasingly concentrating their efforts on their enhancement.

A two-pronged strategy is required to improve risk reports. Businesses must enhance their risk-to-action-item mapping, as well as their workers’ ability to cooperate on risk detection and reporting.

Enhancing The Framework for […]