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These 8 Risk Domains Are theĀ Meat and Potatoes of Risk ManagementĀ 

MHA Consulting

As a practical activity, enterprise risk management (ERM) centers on eight distinct risk domains, some strategic and some operational. Risk management is not one-size-fits all. Strategic : Involves assessing risks that may impact the achievement of long-term organizational objectives, guiding decision-making and strategic planning.

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Risk Management Process- Part 3a: Risk Assessment and Risk Identification

Zerto

Risk assessment is a key component of the risk management process that identifies and evaluates all potential risks faced by an organization. It identifies threats and vulnerabilities, potential areas of impact, and the likelihood of disruptive events. This includes risks to strategy, finances, compliance, governance, and operations.

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Operational Resilience in 2023: What Can We Expect?

Fusion Risk Management

After all, Operational Resilience is not limited to the financial services industry. The intent is to establish “resilience-by-design” in strategic investments and critical projects. In 2023, we will continue to see more non-financial services companies adopt operational resilience concepts and frameworks.

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5 Steps To Developing A Corporate Compliance Program

Reciprocity

More broadly, a corporate compliance program reinforces a company’s commitment to mitigating fraud and misconduct at a sophisticated level, aligning those efforts with the company’s strategic, operational, and financial goals. Compliance programs are not one-size-fits-all. At worst, you’ll have no program at all.

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IRM, ERM, and GRC: Is There a Difference?

Reciprocity

Are there differences at all? Not long ago, risk managers concerned themselves mainly with hazards such as fires and floods; or in the financial sector, loan defaults (credit risk). A name for this new market: GRC.” Therefore, IRM is not a good fit for what our end user clients consider a ‘market’ to be.

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The Playbook for Resilient Operations in Financial Services ā€“ March 2022 and Beyond

Fusion Risk Management

Rather than being seen as a check-in-the-box exercise, operational resilience is being widely embraced as the paradigm shift and new operating model required to deliver important services and products to customers and markets reliably, despite the disruptions and service degradations seen so frequently today.

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The New Normal

BCP Builder

All aspects of Business Continuity, including planning, training, stress testing and exercising of Business Continuity Plans will be seen as a priority. An impacts-oriented all-hazards approach will be worthwhile planning going forward (as it has been in the past). We are all experiencing extreme turbulence and its here to stay.

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