I want to share a couple of techniques I used when building the audit plan and then the audit scope, and for assessing the level of risk presented by a control failure. The first is like a reverse root cause Read More …
Category: Risk Management
Norman Marks on Governance, Risk Management, and Internal Audit
RBI releases draft circular on management of ‘Model Risks in Credit’ for lenders
The prescriptions aim at ensuring robustness in the process of model deployment by lenders while making credit decisions The Reserve Bank of India on Monday released a draft circular on ‘Regulatory Principles for Management of Model Risks in Credit’ for lenders to Read More …
Cloudflare announces automated risk management platform
Advanced suite of risk management capabilities enables seamless discovery and and mitigation of threats across applications, data loss or exposure, and human error. The leading connectivity cloud company, today announced Cloudflare for Unified Risk Posture, a new suite of risk Read More …
Mimecast unveils human risk management platform for cybersecurity
Mimecast, a global cybersecurity pioneer, has unveiled its Human Risk Management (HRM) platform, marking an important and eagerly anticipated milestone in advancing toward the next generation of cybersecurity. HRM platform In response to customer and market demand for a more Read More …
Explained | RBI’s New Fraud Risk Management Norms: Key Changes That Borrowers Need to Know
The Reserve Bank of India (RBI) has revised its master directions on fraud risk management following Supreme Court recommendations. The apex court asked banks to hear a borrower before an account is classified as fraud. What Are the RBI’s Latest Read More …
US regulator privately finds weak risk-management at half of large banks, Bloomberg reports
A top U.S. bank regulator’s confidential assessments found 11 of the 22 large banks it supervises have “insufficient” or “weak” management of a broad swath of risks ranging from cyberattacks to employee blunders, Bloomberg News reported on Sunday. About one-third Read More …
How Gen AI is revolutionising risk management in financial services
In the era of Gen AI, risk management practices in the financial services industry need to be ready for significant evolution. According to Custodia Technology, the integration of AI technologies necessitates an audit of existing compliance frameworks to exploit their full Read More …
RBI updates guidance note on operational risk management, extends it to NBFCs
Synopsis The Reserve Bank of India (RBI) updated its “guidance note” on operational risk management for the financial sector, extending it to include NBFCs and housing finance companies. The note highlights that operational disruptions can threaten the viability of regulated Read More …
Embedding ESG-related risks into Solvency II assessments
With ESG increasingly at the forefront of strategic ambitions and regulatory compliance, risk managers in the in the insurance sector are being challenged to more deeply integrate climate-related risks into their risk models. Nihat Mammadli from RiskSphere outlines why and Read More …
Amazon partners with AXA to develop global risk management platform
Amazon Web Services (AWS) and AXA have collaborated to build a digital commercial platform (DCP) and associated software services. AXA DCP is a secure risk management platform that combines industry, business and environmental data with geospatial analytics and generative AI Read More …