Yesterday, I taught my #RisK & #ResilienceManagement by Design workshop in #London. There were about 50 people in attendance, and this was hosted by LogicGate. Great attendees and great engagement. Many are looking for solutions and in the midst of evaluation. I start each of my workshops with the breakout activity of what keeps you up at night in the context of #riskmanagement and #resilience management. Here is the list of what keeps these organizations away from sleep in this context: Defining and guiding #riskculture Awareness of risk and resilience in the business Risk and resilience silos with different processes, approaches, solutions, and documents Commitment to risk management rather than #compliance Not making it over complex First-line engagement and understanding of risk and resilience Competing priorities between different departments Getting to a common risk language and framework Not overbearing the business with risk management Providing a birds-eye view on resilience Business perspective and alignment of risk with strategy, objectives Fear of something new #AI and its use and its governance New technology for risk and resilience management Risk of intellectual property Balance of controls, optimizing controls data quality #dataGRC #ESG expectations and legislation Better #riskreporting #Continuity and resilience planning Lack of visibility into risk and resilience by the business Resilience of #supplychain and #thirdpartyriskmanagement in the #extendedenterprise
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I really enjoyed presenting to the range of #GSIB (Global Systemically Important Banks) gathered at the Acin #regtech event in #London. In a conversation I had with several global banks headquartered in the #USA it was stated that 60% of their regtech staff are in London, 20% in #NYC, and 20% rest of the world. London is the global #regtech #fintech hub
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This week we hosted an event at the Acin offices, featuring a panel of excellent speakers Florence Fontan, Jamie Hamilton, Darren Jarvis, Joseph Rondinelli and expertly moderated by Tracy Clarke. Introduced by Michael Rasmussen who set the scene of an ever increasing set of pressures impacting operational risk and control frameworks, and "making order out of chaos". The panel explored themes such as: ▶ The need for collaboration and standardisation around risk, regulation and control taxonomies ▶ Needing to do a better job in a more efficient way, challenging traditional models ▶ Increasing pace of change coupled with regulatory scrutiny at a more granular and exacting level ▶ Educating and building trust with regulators about using technology for a data driven approach to control testing and effectiveness ▶ The role of the Controls Officer in ten years time Thank you so much to our speakers and those who came to make the evening such a success!
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Enjoyed the depth of interaction at this #regtech event hosted by Acin and loved being the opener and laying the foundation of bringing order out of chaos with regtech
This week we hosted an event at the Acin offices, featuring a panel of excellent speakers Florence Fontan, Jamie Hamilton, Darren Jarvis, Joseph Rondinelli and expertly moderated by Tracy Clarke. Introduced by Michael Rasmussen who set the scene of an ever increasing set of pressures impacting operational risk and control frameworks, and "making order out of chaos". The panel explored themes such as: ▶ The need for collaboration and standardisation around risk, regulation and control taxonomies ▶ Needing to do a better job in a more efficient way, challenging traditional models ▶ Increasing pace of change coupled with regulatory scrutiny at a more granular and exacting level ▶ Educating and building trust with regulators about using technology for a data driven approach to control testing and effectiveness ▶ The role of the Controls Officer in ten years time Thank you so much to our speakers and those who came to make the evening such a success!
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It was great catching up with Adelani Adesida and Dean Alms of Aravo Solutions - Integrated Risk & Resilience for drinks last night in #London and discussing the intricacies of the #thirdpartyriskmanagement market in the #unitedkingdom #europe #middleeast #USA and rest of world. Aravo delivers on #thirdpartyrisk from small to large organizations and their #supplychain but they particularly stand out in solving some of the most complicated #thirdparty #risk challenges for the most complex global organizations.
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Navigating the Complex Landscape of RegTech In the evolving world of financial services, regulatory technology (#RegTech) has emerged as a crucial player as part of the broad #GRC market of #governance, #riskmanagement, and #compliance solutions. As regulatory environments become more complex, the demand for RegTech solutions has skyrocketed. However, while many RegTech solutions address specific elements of regulatory compliance, they often fail to provide a comprehensive approach that integrates these elements seamlessly. The call to action is clear: Invest in a holistic RegTech architecture that brings together various technology components into a unified system that is part of your broader GRC architecture. This investment will not only enhance regulatory compliance but also drive operational efficiency and resilience in the face of an ever-evolving regulatory environment . . .
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Yesterday, I had a great day facilitating my #thirdpartyriskmanagement by design workshop in #London, which Aravo Solutions - Integrated Risk & Resilience hosted. In yesterday’s workshop, we had some interesting discussions on the scenarios of the impact of #geopoliticalrisk, #ransomware, China invasion of Taiwan, wars and conflicts in Ukraine and the Middle East, the impact of bank failures as a third-party (e.g., SVB), and risk scenarios of cloud providers as it relates to #thirdpartyrisk and the impact on organization operations. With each of my workshops, I start the day with what keeps organizations up at night. Here are the third-party risk nightmares and challenges keeping the attendees of yesterday’s workshop on third-party risk up: Scattered silos and decentralization of third-party risk activities Lack of visibility into third-party risks No single source of truth for third-party risk Getting visibility into 4th parties #ESG and third-parties Governing #AI use in third-party relationships #Supplier fatigue from assessments and due diligence Being involved too late in #procurement and engagement M&A activities exponentially increasing the number of third-parties as well as redundant processes Relaxed culture where third-party risk is not taken seriously Legacy data on third-parties Missing and incomplete due diligence Fragmented third-party risk processes Inefficient technology Lack of visibility into the scattered feeds of third-party risk intelligence sources
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It was great to catch a breakfast with Craig Adams of 6clicks today in #London and provide insight into the global trends in #GRC and particularly in the #unitedkingdom. I enjoyed hearing how 6clicks has approached the market and the focus of the capabilities and delivery.