One theme that emerged over in the 1st Line Risk & Control Deep Dive 2024 was the need to align 1st line responsibilities with evolving risk landscapes, in particular the need to enhance cybersecurity practices, better understand geopolitical and regulatory risks, and address the increasing 3rd & 4th party risks that firms now face. It is crucial for practitioners to understand the complexities involved in new technologies such as artificial intelligence (AI), alongside traditional risk management skills. The need for ‘Master Generalists’ who can bridge specialist knowledge and business applications is fundamental to integrated roles within risk management. To read the annual report and gain the full insights, please visit the link in the comments. Commissioned by: Accenture and PwC 📍 1st Line Risk & Control Deep Dive #1stLineRiskControlDD #RiskManagement #RiskMitigation #RiskandControl #1LoD
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In order to combat the threat of misinformation driven by AI, International SOS emphasises the need for organisations to adopt proactive risk management strategies. Read more to understand what these strategies include: https://okt.to/79oZrL #RiskOutlook2024 #ArtificialIntelligence
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Today, Supply Wisdom unveils the groundbreaking findings of our first annual survey, “#Risk Management in a Technology-Driven World.” Our comprehensive report sheds light on the evolving landscape of risk management, revealing key insights on how companies navigate the complexities of vendor and #supplier risk in an era of unprecedented uncertainty. Key takeaways include: 🔍 80% of respondents view technology as crucial in risk management. 🔍 57% of companies are not yet leveraging #AI for risk assessment. 🔍 Top monitored risks: Financial (65%), Operational (64%), Compliance (51%), and Cyber (51%). 🔍 Less than 15% utilize continuous monitoring tools for suppliers. 🔍 62% believe their risk monitoring programs fall short of meeting contractual and regulatory requirements. https://hubs.ly/Q02DxRW60 #RiskManagement #SupplyWisdom #AI #SurveyResults #Technology #BusinessGrowth #ContinuousMonitoring #ThirdPartyRiskManagement
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After almost a decade focused on risk management, the slow adoption of continuous monitoring continues to surprise me. It is the best solution available today to detect and prevent disruptions. #riskmonitoring #realtimeintelligence
Today, Supply Wisdom unveils the groundbreaking findings of our first annual survey, “#Risk Management in a Technology-Driven World.” Our comprehensive report sheds light on the evolving landscape of risk management, revealing key insights on how companies navigate the complexities of vendor and #supplier risk in an era of unprecedented uncertainty. Key takeaways include: 🔍 80% of respondents view technology as crucial in risk management. 🔍 57% of companies are not yet leveraging #AI for risk assessment. 🔍 Top monitored risks: Financial (65%), Operational (64%), Compliance (51%), and Cyber (51%). 🔍 Less than 15% utilize continuous monitoring tools for suppliers. 🔍 62% believe their risk monitoring programs fall short of meeting contractual and regulatory requirements. https://hubs.ly/Q02DxRW60 #RiskManagement #SupplyWisdom #AI #SurveyResults #Technology #BusinessGrowth #ContinuousMonitoring #ThirdPartyRiskManagement
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Financial Advisor and Capacity Building Trainer, ACCA (Part-Qualified), 2x prizewinner
Internal Audit Hot 🔥🔥🔥Topics: Risk Agenda 2024 according to BDO: 👉 Artificial Intelligence 👉 Data Privacy 👉 Digital Transformation 👉 Supply Chain & Commercial Risk 👉 Data visualization 👉 Modern slavery 👉 Change of IIA Standards 👉 Geopolitical risk 👉 Improving working capital 👉 Cyber Risk 👉 ESG 👉 People 👉 Improving working capital #aai #internalaudit #riskmanagement
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Harness the power of predictive analytics 🔮 Advisers launches Tim, an AI-powered virtual risk advisor that evaluates cybersecurity risk levels across entire industries in real-time. Using algorithms trained on big data, Tim identifies an organization's greatest exposures and financial loss estimates from security breaches. Interacting with Tim is simple and insightful. Discover your risks and get actionable recommendations customized by industry standards - no need for an expensive audit! Does your company audit risk levels often? Find out where you stand with a quick profile from Tim. Comment below if you want me to run your organization through Tim’s analytics. The answers may surprise you!👀 How will AI and predictive models transform risk management at your company? Which industries do you think have the most to gain from tools like Tim? ✍️
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Join me on May 21st for a discussion on Third Party Risk Management in the age of AI and increasing regulation. Sophia Corsetti from ProcessUnity will be joining me as we talk through: ** The latest advancements impacting TPRM, governance, risk, and technology ** How leaders are shifting priorities to adapt to the changing landscape ** The top challenges and obstacles faced by leaders in modernizing their TPRM program ** TPRM strategies organizations can implement to keep pace with emerging priorities ** The future of TPRM based on recent advancements and strategies Registration link is below. #NTTDATA #ProcessUnity #ThirdPartyRiskManagement
Are You Playing Roulette with Your TPRM Strategy?
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Introducing Risk Analytics! With our latest Bitsight Continuous Monitoring enhancement, we help security leaders connect cyber risk to business risk when it comes to their vendor relationships. Risk Analytics expedites decision-making with portfolio-wide risk insights and data tied to key risk indicators. https://ow.ly/vT8x50QHFrY #BitsightRiskAnalytics #ShadowIT #ContinuousMonitoring
Introducing Risk Analytics
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Introducing Risk Analytics! With our latest Bitsight Continuous Monitoring enhancement, we help security leaders connect cyber risk to business risk when it comes to their vendor relationships. Risk Analytics expedites decision-making with portfolio-wide risk insights and data tied to key risk indicators. https://lnkd.in/eByZMuFu #BitsightRiskAnalytics #ShadowIT #ContinuousMonitoring
Introducing Risk Analytics
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