Risk Management Guru

NOVEMBER 23, 2023

The regulatory landscape for risk management in financial services is constantly evolving, presenting a formidable challenge for firms and Banks striving to comply and manage their risk profiles effectively. This engagement fosters a collaborative environment and enhances regulatory awareness.

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Norman Marks

JULY 17, 2023

Professors Mark Beasley and Bruce Branson of the North Carolina State University’s Poole College of Management have shared with us for 14 years the results of their surveys of risk management practices.

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Norman Marks

JULY 14, 2022

My thanks go to Professors Mark Beasley and Bruce Branson of North Carolina State University’s Poole College of Management (the Enterprise Risk Management Initiative). They recently published 2022 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices – 13th Edition.

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Norman Marks

JULY 1, 2022

Nick Sanna, the CEO of RiskLens, a software company specializing in cyber risk management, recently issued a wake-up call for risk managers in a presentation at a Professional Risk Managers’ International Association (PRMIA) conference. He “encouraged risk managers […].

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Norman Marks

AUGUST 12, 2022

I have been talking (OK, preaching) about the need to manage the likelihood of achieving objectives (i.e., success) rather than limiting yourself and the organization by managing or mitigating risks. You need to take risks if you ever want to achieve objectives; the key is taking […].

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Norman Marks

JULY 5, 2022

I commend Marco Nutini for his recent LinkedIn post, Risk and decision: egg or chicken? He asks: In your opinion, which of the two alternatives best represents the Enterprise Risk Management process?

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Risk Management Guru

OCTOBER 24, 2022

The RBI Grade B Mains Exam’s Finance & Management portion includes a subsection on Risk Management in the Banking Sector. A bank may make more money by taking on greater risk since the relationship between risky assets is direct. What Does Risk Management Mean In The Banking Industry? Conclusion .

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Norman Marks

NOVEMBER 7, 2022

I want to thank the 102 people who responded to my survey. The results are quite interesting. First, there is an inherent bias in the responses. These are all people who are reading my posts and are therefore more likely (I believe) than the general population to agree with what I have been advocating. Having […].

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Mish Talk

NOVEMBER 13, 2022

Our Customer Service Team will follow up and strive to resolve the requests manually one by one in close coordination with our security, operations and compliance team to ensure a smooth process. And we seek to provide the highest level of transparency on our liquidity and risk management. "

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Norman Marks

JULY 21, 2023

Anthony Pugliese (President and CEO of the IIA) said in a recent webinar that GRC stands for Governance, Risk Management, and Compliance-slash-Control. I am sure he said that because the IIA has the C meaning Control while the rest of the universe has C for Compliance. This is just one of the reasons that I […]

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Compliance Risk Management Government Management 40

Norman Marks

JUNE 20, 2022

PwC has shared with us the results of their 2022 Global Risk Survey. It has some interesting stuff, although (as usual) doesn’t go far enough for me. Their food stuff includes: In this turbulent business environment, many executives find the need to revise and adapt their strategies and operating models at a rapid pace. They […].

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Norman Marks

NOVEMBER 9, 2023

My congratulations to my good friend, Jim Deloach, and to James Lam for their contributions to Board Risk Oversight in the Age of Disruption, published by the (US) National Association of Corporate Directors (NACD). The article captures some of the content of an NACD webinar that was hosted by Protiviti with James Lam as a […]

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Risk Management Guru

SEPTEMBER 20, 2021

Whether you’ve just started in Risk Management or you’re already a professional in this arena, this article will interest you. We are highlighting some of the reference professionals we follow who are seasoned Risk Managers, each in its own area of expertise. Linked In. Website / Blog. Linked In. Steve Burns.

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International College of Financial Planning

MARCH 31, 2023

Wealth management is an important aspect of the financial world that focuses on managing wealth to help individuals and families achieve their financial goals. Wealth management involves a range of financial services as an investment, finance, real estate, tax, and risk management.

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Norman Marks

MARCH 28, 2024

I have written a lot over the years about risk appetite and the value of risk appetite statements, both here on this blog and also in my books, especially World-Class Risk Management (2015) and Risk Management in Plain English: A Guide for Executives, Enabling Success through Intelligent and Informed Risk-Taking (2018).

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International College of Financial Planning

JANUARY 31, 2024

Risk Management and Compliance: Vital for risk management and audit professionals, this area focuses on identifying and mitigating risks while ensuring regulatory compliance.

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Diamond Consultants

NOVEMBER 29, 2022

In today’s heightened regulatory environment, risk reduction is often a firm’s top priority—making advisors more vulnerable than ever before. Knowledge is power—particularly in a world where compliance scrutiny has ramped up, and firms prioritize risk reduction over revenue creation. Let’s start with internal investigations.

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Norman Marks

MARCH 11, 2024

Today, let’s talk about their second demand, which follows on from their first: Express an overall opinion on the effectiveness of risk management and controls by “connecting the dots”. Let’s […]

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Norman Marks

OCTOBER 23, 2023

I have some video events coming up, including: Risk Awareness Week 2023, where I am speaking on risk-taking. An Institute of Risk Management panel discussion on “How Risk Practitioners Can Earn Trust and Respect as Valued Partners”. The Risk Management Association’s annual conference.

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Million Dollar Round Table (MDRT)

APRIL 4, 2023

If I’m going to do a global risk management project for your finance s , you ’ve got to tell me everything.” ” But, of course, when I first designed the program, I knew that when we do compliance fact-finders, one of the first two pages is asking about their income.

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Compliance Risk Management Financial Advisor Banking 87

Norman Marks

MARCH 22, 2024

This may be an odd question to ask, but as a leader of internal audit and risk management it was an important issue for me. While there is so much talk about artificial intelligence, I believe it is far more important to optimize human intelligence! Where we sit affects: Our ability to know what is […]

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International College of Financial Planning

MAY 30, 2023

Financial institutions can leverage big data and analytics to enhance customer segmentation, improve risk management, and optimize pricing strategies. Regulatory compliance and evolving legal frameworks As technology continues to transform the finance industry, regulatory frameworks and compliance requirements must keep pace.

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Norman Marks

FEBRUARY 15, 2024

I read a recent post on LinkedIn (now deleted, fortunately) that asserted that the job of the risk manager is to quantify every risk. Of course I replied that their job is to help the organization and its leaders succeed by helping them get the right information at the right time to make the right […]

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Norman Marks

NOVEMBER 27, 2023

He wisely says: If we wanted to really make a difference to decision makers we would switch from risk reporting to risk-adjusted performance reporting instead. Risk managers always have a choice: generate own risk reports or use the outputs of […] It’s an excellent question.

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Norman Marks

SEPTEMBER 19, 2022

Today, I will review two very different sources for perspectives on risk management. The first is an interview with Robert Finocchio on ‘Risk Oversight and Assessment’. Then I will provide a link to a paper by a law firm of relevance for board members and CROs. If you look at his background, you will see […].

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Good Financial Cents

DECEMBER 14, 2022

The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. Employment numbers for Financial Managers are expected to rise by 17% over the next decade, faster than the average for all occupations. Chief Compliance Officer.

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Norman Marks

NOVEMBER 2, 2023

First, we had the Wells Fargo case, where the CRO and CAE have both been charged with negligence or worse, a crime for not reporting risk management deficiencies to the board and the regulators. I discussed it earlier. Now the SEC is charging a CISO with fraud! Their press release says, with my highlights: The […]

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Indigo Marketing Agency

APRIL 28, 2023

Do you offer risk management that helps them sleep at night? Once you’re happy with the result, send it to compliance, feature it on your website, and don’t forget to share it on your social media profiles! Clients choose to take action and work with you to solve one of their problems. Do you simplify their financial picture?

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Norman Marks

JULY 3, 2023

A few days ago, Lose Luiz Valentim commented on my post, Auditors need to understand risk management. He pointed out that banks and other financial institutions are required by their regulators to have a risk appetite statement, and asked my views on assessing their effectiveness.

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Norman Marks

DECEMBER 8, 2022

Earlier this week, I enjoyed a conversation with Joshua Rosenberg, Executive Vice President and Chief Risk Officer of the Federal Reserve Bank of New York. I was great to chat with a gentleman who has a prominent position, and whose thinking on risk management appears to be well aligned with mine (with a few exceptions, […].

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Norman Marks

JUNE 19, 2023

Lisa Young has a lot of experience in cybersecurity and cyber risk management. When she says something about cyber and cyber risk, we should listen. Recently, she wrote a piece for ISACA, Getting More Value from Risk Assessments. Look at her impressive LinkedIn profile.)

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Carson Wealth

JULY 12, 2022

The first step in the competency stairway is regulatory compliance. . The securities industry weaves the Financial Industry Regulatory Authority (FINRA) and state securities commissioners into a regulatory quilt, also requiring stockbrokers and their registered agents to pass registration exams and complete annual compliance training.

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Harness Wealth

OCTOBER 23, 2023

Generally speaking, CAS accounting focuses more on compliance work and one-off needs, whereas advisory accounting goes into larger, more nuanced strategic decision-making. While there may be some overlap, accounting advisory services should not be mistaken for traditional financial planning or for Client Accounting Services (CAS).

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Accounting Taxes Strategic Planning Estate Planning 52

International College of Financial Planning

MAY 30, 2023

Some popular finance careers include financial planning, investment banking, corporate finance, and risk management. Seeking Advice and Conducting Research Implementing effective compliance programs and internal controls Compliance programs and internal controls help to prevent, detect, and address unethical behavior.

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SEI

SEPTEMBER 21, 2022

Part 2: Cybersecurity maturity measures your level of risk and corresponding controls. Domain 1: Cyber risk management and oversight. Domain 4: External dependency management. Domain 5: Cyber incident management and resilience. Domain 5: Cyber incident management and resilience.

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Financial Services Compliance Risk Management Clients 52

Norman Marks

MARCH 22, 2022

My good friend, Michael Rasmussen, has shared an article that was recently published by the Institute of Risk Management. (I These are three of today’s buzzwords. I am an Honorary Fellow of that institute and Michael has received other honors from them.) I like what he has to say about agility: Agility is a thing of […].

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Good Financial Cents

AUGUST 12, 2023

Understanding these rules or consulting a tax professional is vital to maximizing after-tax returns and compliance with tax laws. Whether it’s investment in different market sectors, rental properties across various locations, or a mix of bonds and stocks, diversification is a fundamental risk management strategy in financial planning.

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