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3 Ways to Drive Value within Your Third-Party Risk Management Program and Beyond

Fusion Risk Management

A ccording to Deloitte’s global third party risk management survey 2022 , 73% of respondents reported having a high level of dependency on third parties – a nd that reliance is predicted to continuously increase which , in turn, means ongoing related challenges.

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Reviewing the Five Types of Risk 

MHA Consulting

During COVID, business tended to focus on only two of the five risk types; however, organizations that want to prosper over the long term need to be cognizant of and plan for all five kinds of risk. In many cases, operations- and finance-related risks pose the most immediate threat.

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Geopolitics, regulations, and resilience

Fusion Risk Management

At Compass 2023 , Fusion customers as well as presenters from our strategic partner, PwC , shared firsthand experiences in a panel session on geopolitics, regulations, and resilience. The foundation of risk management Truly resilient programs are built on the foundations of your risk management and business continuity strategies.

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When You Can’t Rely on a Crystal Ball, Elevate and Invest in Resilience

Fusion Risk Management

Organizations that embrace, invest in, and elevate resilience as a strategic priority are able to more proactively sense issues, analyze vulnerabilities, and adapt to the evolving environment. In today’s fast-paced world, resilience must be a strategic priority for businesses.

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Introducing Fusion’s Dynamic Response Console

Fusion Risk Management

How many different plans need to be activated, and in what order? Activate the right response when it matters most with Dynamic Response Console. This new functionality enables users to improve strategic decision-making, adjust strategies in real time as the situation evolves, and recover critical assets in the correct sequence.

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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

Companies establish these senior leadership roles to change the culture towards risk and resilience, coordinate board and regulatory reporting across multiple risk disciplines, oversee global program activities, introduce new or updated internal standards, and establish cross-functional governance committees.

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DORA: Moving Beyond the Basics of Compliance and Implementing a Cross-Functional Approach to Resilience

Fusion Risk Management

It is important to recognize, however, that DORA is not simply a “check-the-box” compliance activity. The crisis management team validates that your organization’s credit line is dependent on the affected data set, which impacts your Settlement Transactions service. Each team is prepared against a variety of contingencies.