compliance

GRC is front and center at IBM Think 2019

Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments. The risks are varied, the data sources numerous and the relationships between entities are complex. It’s simply too much for traditional processes and infrastructure […]

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Reimagining the first line of defense with next-gen GRC

The global financial crisis of 2008 and 2009 brought a renewed focus on the governance, risk and compliance (GRC) processes within the financial institutions, who, not very long ago, viewed GRC as little more than a necessary evil – cost of doing business, which added little value. In today’s rapidly changing business environment, managing responsiveness […]

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RegTalk Podcast Episode 1: Accelerating innovation for AML compliance

With five U.S. regulatory agencies announcing their support and latitude on experimentation in the field of AML innovation, financial institutions are changing their mindset from one of “adequate compliance” to “compliance innovation.” But understanding where to begin this journey, using technologies like artificial intelligence, machine learning, process automation and natural language processing, as well as […]

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Quantum computing finds a home in risk management

At school, we were taught classical physics. The laws of Newtonian gravity dominated our studies and life seemed so simple – everything moved in a straight line unless acted on by an external force and F=ma, mass x acceleration. Then it all changed. Strange effects were observed, the photoelectric effect and the wave particle duality […]

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Financial crime in finance: Unlocking communications to find hidden risks

FINRA and other regulators have informed firms of their expectation to adopt practices of “heightened supervision” to isolate high-risk brokers and activities, including those who have previously committed financial crimes. In the past two years, FINRA has released guidance to strengthen controls on high-risk brokers and further indicated it would be an ongoing priority. In […]

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What’s new in IBM GRC and OpenPages v8.0?

Over the past year, the discussion of governance, risk and compliance (GRC) has continued in stories related to financial services and other sectors. Headlines related to improper conduct, fraud, infringement of privacy data have all contributed to industry re-examining the meaning of GRC in today’s business environment. The argument that non-financial risk must be approached as […]

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Innovating in the open: How the changing GRC landscape inspired IBM GRC’s latest releases in 2018

This past year brought governance, risk and compliance (GRC) to the center stage. Organizations in financial services and other sectors witnessed an increase in “airtime” given to risk and compliance issues at the board level. Stories of improper conduct, and new regulations on data protection and privacy such as GDPR, continued to dominate the business […]

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IFRS 17 adoption: Its impact and best practices

International Financial Reporting Standard 17 (IFRS 17) is expected to come into effect in January 2021 (though the IASB, the governing body, has tentatively agreed in Nov 2018 to postpone adoption to January 2022). Applicable to the insurance sector, it is regarded by most companies and consultants as one of the most significant changes to […]

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Taking a proactive stance on conduct risk with real-time, AI-powered risk analytics

In many cases, one of the most significant operational risks organizations face today doesn’t come from fraudsters or cybercriminals—it comes from their own employees. Collusion, insider trading, mis-selling, intellectual theft and sales malpractice are just some of the ways bad actors can take advantage of their employer’s good reputation and subvert it to their own […]

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How next-generation technologies are transforming governance, risk and compliance

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users. A new IBM white paper – Transforming […]

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Uncovering hidden risks behind mirror trades

Recently, financial institutions have come under fire for a not illegal, but potentially suspicious form of investing. And while not especially complex in its execution, this scheme exposes the lack of insight and oversight across large institutions, especially institutions that operate across different geographies. Of course, I’m talking about mirror trading. ‘Mirror trading’ is a […]

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