Risk & Resilience

ASIC Commissioner, Kate O'Rourke, recently took center stage at the Responsible Investment Association Australasia (RIAA) Conference, where she shared her insights on how ASIC is helping Australia’s financial sector navigate the growing importance of climate-related financial disclosures. While O'Rourke emphasized that these regulatory changes are big, she also clarified they are an opportunity for businesses to take charge of climate risk and show the market they’re ready for the future.

Compyl, a provider of unified Governance, Risk, and Compliance (GRC) solutions, has recently announced it has raised $12 million in a Series A funding round. The round was led by Venture Guides, with participation from existing investors including Contour Venture Partners, Armory Square Ventures, nvp capital, Alpine Meridian Ventures, Brooklyn Bridge Ventures, and Zelkova Ventures.

The world of lending is on the brink of a dramatic transformation, driven by the relentless march of technology. The Dutch Authority for the Financial Markets (AFM) has painted a vivid picture of what the sector might look like in 2035, offering a glimpse into a future where loans are just a click away, powered by artificial intelligence (AI) and open finance.

At the 15th European Financial Congress, Jacek Jastrzębski, Chairman of the Polish Financial Supervision Authority (KNF), delivered a powerful speech that not only analyzed the geopolitical uncertainty facing financial markets but also charted a bold path forward for Poland’s financial sector. His remarks mixed concern with optimism, focusing on the challenges and opportunities presented by an increasingly unpredictable world.

In a year marked by turbulence across global financial markets, Belgium’s financial sector has posted stable, though unexceptional, results. Banks and insurance companies in the country managed to uphold their solvency and liquidity positions despite facing significant challenges. With geopolitical tensions and economic uncertainty on the horizon, the National Bank of Belgium (NBB) has emphasized the need for resilience, careful oversight, and unwavering vigilance in the face of these unpredictable times.

In Norman Marks' latest article, he explores the complexities of risk management and governance frameworks, shedding light on the often-confusing acronyms that are commonly used in the industry. From Governance, Risk, and Compliance (GRC) to Enterprise Risk Management (ERM), Integrated Risk Management (IRM), and beyond, Marks provides clarity on how these terms interconnect and why understanding their nuances is crucial for effective risk management in today’s business environment.

As organizations evolve and face increasingly complex risks, the shift toward objective-centric Enterprise Risk Management (ERM) and internal audit methods has been widely recognized as more effective. By focusing on the impact of uncertainty on mission-critical objectives, companies can take a proactive approach to managing risk and better align their risk management strategies with overall business goals. Unlike traditional risk list approaches, which often focus on identifying and mitigating individual risks in isolation, objective-centric ERM integrates risk management into the organization’s strategic planning process, ensuring that risks are assessed in the context of their potential impact on key objectives.