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Challenges of fintech
A new breed of financial technology is shaking up the industry, but it’s not all plain sailing. There are challenges to so-called fintech firms. The rise of such financial technology may prove both a blessing and a curse to traditional financial services providers. Some of these new starters have set themselves up as challenger banks…
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They’re here
Hackers can and do penetrate most IT systems. They’re here in your systems already. But organisations are getting smarter too, according to speakers at ISACA’s recent conference in Munich. In fact, new developments in quantum computers could change everything. Towards the end of this year, we could reach the point at which quantum supremacy has…
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Planning for success
Risk managers can make a crucial contribution to the success of new business projects. All projects involve risk, some more so than others. But risk managers can help in planning for success. Risk should be understood as meaning uncertainty, which covers both threats and opportunities. Inbuilt into every project planning process should be the creation…
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Predictably vulnerable
Why are seemingly sound companies predictably vulnerable? They are led by intelligent, well-meaning leaders and often have large, diligent risk management teams – and yet still fail. Anthony Fitzsimmons and Derek Atkins have been asking themselves this question for years. An important breakthrough came when they were part of the Cass Business School team that…
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US banking regulation could relax
US banking regulation under the 2010 Dodd-Frank Act could be relaxed following a vote in Congress. The changes are contained in the Choice Act, which still has to pass through the Senate. That could be tricky given the Republican’s slim majority. But the act could exempt some financial institutions from meeting capital and liquidity requirements.…
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Sometimes it pays to be bored
Sometimes it pays to be bored. This little gem of inspiration comes from a talk I went to at ISACA‘s recent IT security conference in Munich. Tom Madsen, an IT specialist who worked for the United Nations Development Programme for 12 years, was running us through Sun Tzu’s classic ancient warfare text The Art of War. Normally, that’s…
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There’s still time to have your say
As most readers are aware, the Institute of Risk Management (IRM) is exploring the future direction the profession of risk management is likely to take. While we’ve had a lot of responses to our industry-wide survey, we’d urge all who haven’t yet had their say to get involved. Our survey looks into the future of risk management…
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IRM responds to global WannaCry ransomware attack
The recent ransomware attack on the NHS and over 30,000 companies globally has brought cybercrime to the top of the risk and news agenda. Patrick Keady, CFIRM, IRM Board member and Chair of the IRM Health and Care Sector Interest Group says: “The NHS is unusual because it has so few people with the skills…
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Heatcubes
Could heatcubes be a new way of visualising risk? And what are they anyway? Diego López Yse, who is responsible for ERM at Bayer for the Southern Cone region, explains his concept in a paper we can share with IRM members for the first time. Heatcubes are modified bi-dimensional heat maps. “The problem with bi-dimensional heat maps…
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The talking cure
Fiona Davidge is part of a two-woman risk team at the £20bn science funding charity Wellcome Trust. In this feature from the Spring 2017 issue of Enterprise Risk, she explains how her dialogic approach to risk management is helping the executive team understand and deal with their strategic and project risks. Read it here.
