Jun 16, 2016
Conventional ERM systems are generally assessment based and, consequently, they typically report results via an assessment metric often based on three colors: red, amber, and green. The managerial usefulness of such systems is limited for a number of reasons: first,...
May 11, 2016
In a March 2016 GARP Risk Intelligence article, Risk Governance: Across the Three Lines, authors from KPMG commented on the U.S. Office of the Comptroller of the Currency’s Heightened Standards for large financial institutions and delivered a call to action: “It’s...
Sep 16, 2015
In the aftermath of the financial crisis, the G20’s Financial Stability Board invited auditors to play a more prominent role in assisting the FSB in its mandate to stabilize the global economy. Also, the Basel Committee on Banking Supervision issued new requirements...
Jul 30, 2015
There is much hand-wringing on the question of risk culture. The failures of the recent past associated with bid-rigging, product mis-selling, rogue trading and the like are viewed by governments, regulators and the media as evidence of an increasing prevalence of...
