On October 15th, 2021, the Office of Comptroller of the Currency (OCC) released its bank supervision operating plan for fiscal year (FY) 2022. The plan provides the foundation for policy initiatives and supervisory strategies for national banks, Federal savings associations, federal branches,…
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Environmental, Social, and Governance (ESG) regulations are emerging with speed and force, both within the United States and globally. Indeed, as we highlighted in Accenture’s 2021 Global Risk Management Study, 77% of risk leaders believe that complex, interconnected risks are emerging at a…
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Many financial institutions around the globe have committed to fight climate change by setting ambitious goals in the near and long-term future and working to embed the management of ESG risks into their risk management organizations. For example, Bank of America has…
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A brief scan of the regulatory horizon will reveal an ongoing trend of anti-trust legislation, particularly targeting big tech firms among others. In addition to enforcement of existing international, national, and state regulations, a slew of new bills are in the pipeline. …
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While many point to regulation as the way to manage and control AI risks, we, as individuals and firms, make decisions on the middle ground in which AI should play. Where we should leverage AI, and where we should not. Playing at…
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It’s the year 1989, and unbeknownst to everyone – an evolutionary biologist, Joseph Popp, utilized the AIDS epidemic as a ruse to create the world’s first piece of ransomware. Joseph Popp crafted a computer-based survey, the AIDS trojan, to help researchers assess…
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Every firm is faced with the AI conundrum – how much and how fast to innovate while being able to still manage the risks. Firms should neither shy away from AI, nor jump into the space blinded. Accenture’s recent “Global Risk Management…
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If you have paid any attention to the financial regulatory priorities of the Biden-Harris Administration, you know that U.S. regulators are keenly focused on environmental, social and governance (ESG) disclosures in public company filings. Specifically, in May 2021, the Biden Administration issued…
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The EU has led the charge in the increase of regulatory focus on AI. EU legislation has focused on promoting trustworthy AI while remaining committed to innovation and competition. Legislation points to a risk-based approach and “algorithmic impact assessments”, with sector and…
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Cryptocurrency, or crypto, has overtaken the news throughout 2021 to date. Whether it be Bitcoin’s $60,000 price tag and subsequent fall, the rise of a coin based on a DOGE 1 meme, or a crypto service provider’s (CSP) IPO; it is apparent…
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Environmental, Social and Governance (ESG) are three key factors used to measure a company’s sustainability and social responsibility performance. While the acronym has recently gained attention...
Issues management is becoming an increasingly important and visible component of Enterprise Risk management for financial institutions. While risk management deals with the degree of uncertainty and/o...
A Call to Action 2020 was the ‘tipping point’1 for the ESG (environmental, social and governance) movement, and the momentum is expected to mount in 2021 and beyond.2 Companies are facing pressure fro...
The current business environment has exposed the need for firms to prioritize and implement significant changes in the way they think about and manage risk. This blog represents the first in a series...
The adoption of the Paris Agreement in December 2015 was a landmark moment for both global cooperation and recognition of the urgency of addressing climate change. Despite the many disagreements betw...
If you have paid any attention to the financial regulatory priorities of the Biden-Harris Administration, you know that U.S. regulators are keenly focused on environmental, social and governance (ESG)...
Now that ICE Benchmark Administration (IBA) has announced that it would consult on its intention to cease publication of the one-week and two-month US Dollar LIBOR tenors immediately following the LIB...
Businesses are quickly implementing transformative technologies such as cloud, AI (Artificial Intelligence) and other leading systems and applications for strategic advantage, risk reduction and cost ...
In the previous blog in this series, we looked at the important roles that data, tools, and innovation play within Integrated Risk Management (IRM). Today we focus on the need for good risk management...
Executive Summary If passed, the Equality of Act of 2021 could have significant implications to the ways financial institutions are required to serve newly protected classes of customers and potential...
