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Risk Management


Risk Management in Banking: How to Weather the 2023 Crisis

The banking industry is no stranger to crises, and 2023 has proven to be a challenging time for banks worldwide. As financial institutions face a multitude of risks and uncertainties, robust risk management practices are essential for success. In this post, we’ll delve into the significance of risk management in weathering the 2023 crisis and offer key strategies for successfully navigating these turbulent times.


3 Ways to Help IT Improve Regulatory Risk Management and Compliance for Financial Services

Managing a delivery team that supports any complex business requires aligning people and technology with the needs of your customers in order to deliver the software they need to run the business. Firms that operate within regulated environments like financial services, including capital markets also have to contend with external influence from regulatory partners—which can shape not only what you’re asked to do but also how you need to do it.


GRC for Insurers: Keeping Up with Mounting Regulatory Requirements

Recent years have brought no shortage of change to the insurance industry. Among those changes is a rise in governance, risk, and compliance (GRC) requirements. Effective in May 2018, the General Data Protection Regulation (GDPR) became the first major regulation to focus on protecting consumer data. Its implementation coupled with a global pandemic has kickstarted a rush to enact more laws surrounding data privacy.


How to ensure compliance in regulated environments

Organizations that work in a highly regulated industry such as medical/health, pharmaceutical, security, automotive, aerospace, and defense, know how important it is to comply with standards and regulatory requirements. In order to meet regulations, manufacturers must maintain strict control over the development process, from testing to maintenance, and release. Xray test management app is a powerful test management app that can help you meet compliance and regulations in your industry.


Replacing the FMEA Risk Assessment: How to Manage Risk in an Agile World

Product failures and defects can occur on many different shapes and levels, impacting any part of the user experience, functionality, and even safety. In the past, organizations were taking the approach of of Failure Mode and Effects Analysis (FMEA) for risk assessment. This allowed teams to identify and prevent failure before a product or update is released.


Optimizing Risk and Exposure Management - Roundtable Highlights

We recently hosted a roundtable focused on optimizing risk and exposure management with data insights. For financial institutions and insurers, risk and exposure management has always been a fundamental tenet of the business. Now, risk management has become exponentially complicated in multiple dimensions. In this session we explored what firms are doing to approach the uncertainty with more predictability.


Insights from CollabraLink: Defining Culture-Driven Enterprise Risk Management

As young children, our parents do their best to protect us from harm. We’re taught not to play in the road or speak with strangers. As we grow and our environment changes, these foundational lessons guide us even when we are old enough to know better than to touch a hot stove.


Recalibrating Enterprise Risk Management in Response to Crisis

COVID-19 and its impact have demonstrated that change can be rapid, disruptive, and non-negotiable. This is especially relevant to enterprise risk management, where the challenge can be summed up in one word: recalibration. Many financial institutions have been investing in model-driven analysis and data-anchored approaches. We know that the models themselves must adapt as situations change. But what about the processes and policy governance that surround these models?