Posts Tagged ‘risk management’

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Risk Myth Busters – Unlock the myths about Risk Management

Risk Myth Busters – Unlock the myths about Risk Management Myth 1: Risk management is waste of time and money: If the head of the house hadn’t thought about safeguarding the house, his house could be ransacked or collapsed. If the health patient hadn’t thought about health insurance, the patient could spend his life savings […]

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Data Lineage for BCBS 239 Regulatory Compliance

The purpose of BCBS 239 (Basel Committee on Banking Supervision’s standard number 239) is to ensure that systemically important banks’ risk data aggregation capabilities and internal risk reporting practices give thorough insight into the risks to which they are exposed. BCBS has a total of 14 principles, summarized in the four sections below: I. Overarching governance […]

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Diamond Timeless Watch – Project without risk

 Diamond watch:   “Wow, that is a stunning piece of the watch,” says Mr.X “Thank you, Sir. It costs around a few hundred thousand dollars” replies Mr.Y “Oh, that is a lot of money. Can you please tell me the time?” Mr.X requested “Um, It doesn’t work but I like the diamonds on the watch” […]

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We Can All Learn From Crypto.com’s Hack and Response

We shouldn’t be that surprised. A couple of weeks ago, Crypto.com, one of the fastest-growing cryptocurrency platforms, was hacked on January 17, 2022. One area mentioned by the company as an issue was a gap in its multi-factor authentication (MFA) system. A statement issued by Crypto.com on January 20th said, “transactions were being approved without […]

Issues – The sleeping dragons?

Black swan’s companion In any fantasy story, you must have read about the dragons asleep and guarding the treasures. The dragons unknowingly defend the treasures without considering the value of it. You can imagine the massive loss of the treasure if you try to tickle the dragon. A small sneeze from the dragon that cannot […]

Risks never sleep – Be a Risk Keeper

Nothing is too low for a bear A bear doesn’t probably love to chase and hunt their prey. They are fond of any sorts of flesh and easily pick you when you are asleep. Bears can be predators even though they don’t have many enemies. Although most do not, under normal circumstances, hunt and feed […]

An Issue Cannot Become a Risk

Can an issue be a risk? Risk vs Issue : Everyone knows that a risk is an uncertain event that hasn’t happened yet has some probability of occurring in the future. An issue is an event that has already happened. Why Risk? Risk empowers us to think proactively and gives the opportunities to develop the […]

Risk in a Blink – The Power of Observation

Everyone expects for a theory or an Apple in a BLINK! When Newton’s head was bonked by an apple, his bulb just got brightened in a BLINK. He discovered the law of gravity which still exists in every school textbook. “Apple” came to Steve Jobs’ mind in a blink when he was returning from an […]

Agile Risk Management vs Traditional Risk Management

“Risk comes from not knowing what you’re doing” – Warren Buffet A college called the “Risk Management Institute” arranged a get together for their alumni students. Two close ex-classmates named AGIL and TRADY are meeting years after their graduation. They both are highly skilled RISK MANAGERS. They discuss their families, life, love, society, and stuff. […]

6 Benefits Of Business Intelligence

Wealth management firms that have embraced a comprehensive business intelligence (BI) program can: mitigate operational and regulatory challenges across the firm; gain visibility into investment analytics, client relationship management, performance reporting, compliance, and contact management; and generate more comprehensive management and client reports. On the other hand, wealth management firms with a more limited set […]

Contingency Plan vs Mitigation Plan

SAFETY IS NOT A RESULT OF LUCK; IT COMES FROM PREPARATION A Contingency Plan is a designed plan which takes into account a number of possible future events or circumstances where a mitigation plan is the step to reduce adverse effects. That’s still not a clear message, is it? CAUTION IS THE PARENT OF SAFETY […]

[Guide] 6 Ways To Mitigate Risk In Cross-Selling For Financial Services

Disciplinary actions. Government fines. Victim restitution. There is no shortage of regulatory compliance issues hitting the headlines these days. In recent years, however, it is news of aggressive sales tactics that has had the general public and several regulatory bodies that oversee financial institutions very concerned. Most financial institutions have critical cross-selling initiatives that encourage […]

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