Risk & Resilience

Consider this example: one organization was spending 200 hours building a report for the board on risk events that have happened. All the information was trapped in spreadsheets that they had to aggregate, tabulate, and build this report from. Every year, another 200 hours—it now takes them a minute. The last year they did it this way, they found out they had risk issues that started eleven months back. That is not managing risk: that is reacting to it well after the fact.

Acting Comptroller of the Currency Michael J. Hsu addressed the Financial Literacy and Education Commission's public meeting on July 10, 2024, emphasizing the critical role banks play in combating consumer financial fraud. Hsu's remarks highlighted the growing threat of fraud and the need for collaborative efforts to protect consumers and the financial system.

The European Banking Authority (EBA) released its annual Report on convergence of supervisory practices today, underscoring both achievements and areas needing improvement in the implementation of supervisory priorities across the EU for 2023.

The European Banking Authority (EBA) released its spring 2024 risk assessment report on July 2, highlighting elevated geopolitical risks and economic uncertainties facing EU/EEA banks. The comprehensive report, which for the first time combines the EBA's common risk assessment with analysis of banks' asset encumbrance and funding plans, paints a complex picture of the current banking landscape. This edition marks the resumption of the semi-annual publication of the Risk Assessment Report (RAR), following its common structure but also including the analysis of asset encumbrance and funding plan data, previously published in two separate reports.

In an era marked by geopolitical tensions and economic uncertainty, Europe's insurance and pension fund sectors are demonstrating unexpected resilience, according to the latest Financial Stability Report from the European Insurance and Occupational Pensions Authority (EIOPA).

The Bank of England (BoE) has released its latest Financial Stability Report, providing an in-depth analysis of the current state of the UK's financial system. The report, which highlights the resilience of UK households, businesses, and banks, also underscores the persistent risks that could impact financial stability. For companies, effective risk management remains crucial in navigating these uncertainties.

In today's rapidly evolving business environment, the development of a mature risk and resiliency strategy has transitioned from being an optional consideration to an indispensable necessity for organizational survival and success. This strategic imperative hinges on several critical elements: a profound comprehension of existing and potential threats, a comprehensive understanding of internal operational dynamics, and the adept utilization of state-of-the-art risk intelligence tools.