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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 […]

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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 […]

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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 […]

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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 […]

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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. […]

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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 […]

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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 […]

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[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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3-Part Process To Reduce Risk When Cross-Selling In Financial Services

While modifying sales goals can be a good place to start, artificial intelligence and intelligent machines (along with a comprehensive process) can be leveraged to analyze data and identify patterns. Aside from knowing the real identity of customers, companies are obligated to ensure that their customers have willingly opted to do business with them through […]

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What To Make Of Sales Goals And Incentives In Banking And Insurance

Most successful cross-selling programs have incentives in place that reward employees for selling additional products and services to existing clients. While financial incentives are often indispensable in certain parts of the industry, and there is nothing wrong with such programs at their core, they do open the door to unethical behavior that can have unfortunate […]

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Smile! MasterCard Will Leverage Selfies To Verify Your Identity

  According to research, approximately 31.8 million consumers in the US experienced credit card fraud in 2014. That’s triple the number in 2013! And the number doesn’t appear to be going down any time soon. On a positive note, credit card issuers are stepping up their game by introducing security methods, such as Europay, MasterCard […]

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The Year in Review | Top 10 Financial Services Posts of 2015

There was a lot to talk about in 2015, but our most popular posts centered around compliance, security and risk management. Here are your favorite posts of the year:   Ten | How to drive the most value from your compliance investments Compliance is a strategic imperative for financial services organizations. This post discussed how […]

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The 5 Most Significant Compliance Issues in Financial Services

ThinkAdvisor recently published a list of the top 5 compliance headaches faced by advisors and BDs. Mandatory Succession Planning Rules for RIAs, which could require advisors to “plan for market stress and other events that may prevent an advisor from serving its clients.” These new rules are expected by the end of 2015. Form ADV – […]

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Deflategate: Lessons Learned for Financial Services Firms (and the NFL)

If you had not heard about the latest NFL scandal with the New England Patriots leading up to the biggest football game of the season (the Super Bowl) surely you did during some of the coverage of the game. National news took time out of their normally depressing nightly news to cover the latest developments in Deflategate. I’ll preface […]

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Banks Have a Handle on KYC, Lack KYV Guidance

While most banks have a better grip on Know Your Customer requirements than they did years ago, the challenges and risks of non-compliance continue to grow as regulators focus on sources outside the financial institutions’ walls. What is the impact of a failed risk management program as a result of actions committed by a vendor or service provider? Your financial institution may be […]

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Information Lifecycle Management, the ignored EIM component

One of the less addressed areas of Enterprise Information Management (EIM) is the Information Life cycle Management (ILM). If you think about it Life cycle management touches key business areas especially regulated industries like financial services. IT is concerned with managing storage, application performance issues due to large volumes of accumulated historical data and the […]

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Managing Compliance for a Frictionless Experience with Non-banks

We’re in for some interesting times ahead, as banks big and small start a delicate balancing act.  For banks, there are rewards and sparkling new opportunities beyond their own branches, apps, and channels to partner with other companies: additional customer engagement, value-add retail services, the possibility for increased customer retention and brand recognition.  Services such […]

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Fast Company: Top 10 Most Innovative Companies in Finance

Yesterday, Fast Company released their annual guide featuring the most innovative businesses with the greatest impact in their industry.  The financial services industry was very well represented with innovative leaders in several major areas that are very much in a state of flux right now.  The impact that some of these leaders have had on […]

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Health Plans – Are you at Risk?

If you’re a Health Plan that doesn’t periodically “calculate” and assign risk to members, you’ve put yourself into a tight spot. This is a foundational activity, which drives care management and planning for your member’s future utilization. For capitated or fully insured offerings, this is a critical step in rate setting/premium determination. For self-insured plans, […]

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