Compliance Risk Management

6 Essential Features for Compliance Monitoring and Testing

Compliance monitoring and testing is essential for any organization that wants to ensure that its compliance framework is performing at peak effectiveness. Carrying out tests and monitoring results is a complicated task that organizations often struggle to manage efficiently. Following are 6 compliance monitoring and testing functionalities that a centralized compliance solution delivers. Each […]

Improving Risk and Compliance in 2020 While staying within the Budget

As the year ends, managers are working on creating plans and strategies for 2020 and finalizing the budget for the next year. Risk and compliance managers want access to the latest risk and compliance technology that will increase productivity and accuracy, but they are often limited by the budgets prescribed to their departments. It […]

Rethinking Risk and Compliance for the Future of Banking

Banking is evolving – shouldn’t risk and compliance management evolve along with it?
Change and progress are constant – the banking sector has always been improving its services by using the latest available technology. However, sometimes the changes are more than incremental – sometimes we can have a paradigm shift which completely changes the way […]

Overcoming the Diminishing Returns in Risk and Compliance Management

The law of diminishing returns, which states that after a certain point adding resources only gives marginal value, is certainly true for risk and compliance management. Organizations that try to improve compliance levels and risk mitigation by increasing risk and compliance personnel end up realizing that the improvement does not justify the increased payroll […]

Volkswagen Announcement Reaffirms the Importance of Culture of Compliance

The whole scandal and fines were also widely covered in mainstream media, which resulted in reputational losses that will take decades to rebuild. The new leadership started by doing an in-depth audit of the organization to understand how such a breach of ethics could occur within their organization. They found that the lack of […]

Culture Remains One of the Most Important Factors in Improving Compliance and Risk Management

We have written about the importance of having the right culture before, and so have other prominent publications like Quartz. Culture is often found to be a major factor in scandals related to risk, compliance and accounting. Just look at this list from Forbes of the biggest corporate scandals in 2015 and note how often culture is mentioned as one of […]