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 from clients, investors, employees and others stakeholders to measure and publish their sustainability and social responsibility performance through environmental, social and governance factors.…
CURRENT REGULATIONS: Monetary Authority of Singapore (MAS): MAS commits $42m to spur adoption of technology solutions for risk management and regulatory compliance Publication Date: April 30th 2021 Risks Covered: Operational Risk Business Processes Impacted: Business Continuity Management The agency has announced a new Regulatory Technology (RegTech) grant scheme and an enhancement of the Digital Acceleration…
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 savings. The new risks introduced by transformative technology creates a challenge for organizations to manage. In this series, we discuss how the first, second and third lines of defense can…
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 processes that would make use of all that quality data we spoke about previously. If data is the cornerstone of IRM,…
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, ESG risk failures are widely known. They can take the form of regulatory interventions, reputational damage, and investment risk over labor practices, civil rights, market manipulation, data privacy or…
On March 9, 2021, the Board of Governors of the Federal Reserve System from the Division of Supervision and Regulation issued SR 21-7: Assessing Supervised Institutions’ Plans to Transition Away from the Use of the LIBOR.1 This Supervision and Regulation letter is applicable to all firms supervised by the Federal Reserve and highlights what Fed…
