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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management (ERM) is critical for success in the modern business landscape. Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters.

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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management is critical for business success. ERM is the process of methodically identifying and dealing with any potential events that threaten the achievement of strategic objectives or competitive advantage opportunities. Any organization can benefit from it regardless of its size, activity, or sector.

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The Playbook for Resilient Operations in Financial Services – March 2022 and Beyond

Fusion Risk Management

Building on our 2021 roundtables where we examined how firms are revisiting their approaches to operational resilience , this March we gathered a community of executive leaders in financial services to examine how firms are putting that thought into practice and adapting their culture, processes, and systems to build a more resilient tomorrow. .

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How Banks Benefit from the New Digital Operational Resilience Act

Pure Storage

Once companies are required to be in compliance with DORA in early 2025, banks’ responsibilities for operational risks will expand to include protection, detection, containment, recovery, and repair capabilities against information and communication technologies (ICT) incidents. Promptly detect anomalous activities.

Banking 97
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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

This past year, we also saw increased interest from organizations outside of banking and financial services in learning how to apply operational resilience concepts within their programs. In 2023, we will continue to see more non-financial services companies adopt operational resilience concepts and frameworks.

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What Is Reputational Risk For Banks?

LogisManager

That’s why it’s more important than ever to ensure you’re taking the right steps to use it to your advantage, which all starts with strong risk management. In the banking industry, managing reputational risk is a complex and ongoing discipline. Just like any business, banks face a myriad of risks.

Banking 52
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6 Ways AI is Transforming the Finance Industry

Advancing Analytics

A report by Citigroup , showed that after the technology sector, the financial services industry is the biggest spender on AI services and is experiencing exponential growth. Fraud is an increasing concern for all financial institutions, from the largest global organisations to the smallest companies and partnerships.