The Australian Prudential Regulation Authority (APRA) has released its finalized prudential practice guide aimed at strengthening operational risk management and business continuity planning for banks, insurers and superannuation trustees.
A new report from KPMG International underscores the critical importance of proactive risk management for global businesses as they navigate an increasingly complex landscape of geopolitical instability, trade restrictions, and divergent AI governance. The report, "Top risks forecast: Bottom lines for business in 2024 and beyond," highlights how these three key risks are undermining long-term sustainable growth and urges companies to adapt their risk strategies accordingly.
In today's rapidly evolving business environment, organizations face an increasingly complex and dynamic risk landscape. Traditional approaches to risk management, which focus on identifying and implementing controls for known risks, are no longer sufficient. Risks are constantly changing and adapting, requiring a level of vigilance and agility that many organizations struggle to achieve.
In today's dynamic business landscape, organizations face an ever-evolving risk landscape that demands a proactive and agile approach to risk management. Traditional methods of identifying and implementing controls for common risks are no longer sufficient as risks continuously adapt and transform. Effective risk management now requires vigilance, agility, and the ability to rapidly identify and address emerging threats while pursuing business goals and objectives.
A new research report finds organizations can greatly enhance their ability to proactively identify and mitigate risks by consolidating governance, risk and compliance (GRC) activities into a single technology platform, rather than using multiple disconnected solutions. The 2024 GRC Strategies, Teams and Outcomes Report from GRC software provider LogicGate revealed a stark divide in risk management effectiveness based on whether firms take a unified or fragmented approach to GRC.
The European Supervisory Authorities (EBA, EIOPA and ESMA) issued their Spring 2024 joint risk update recently, warning that risks remain elevated across the EU financial sector amid slowing economic growth, uncertainty around interest rates, and ongoing geopolitical tensions.
In a speech delivered to the London Institute of Banking & Finance, Sasha Mills, an official from the Bank of England, emphasized the critical role of operational resilience for financial market infrastructures (FMIs) in maintaining stability and confidence in the UK's financial system.