The Edward Snowden case and the theft of Target customer data have both driven home the point that cybersecurity is an emerging, and rising, risk issue for both companies and political entities. But there are other risks that emerge as rapidly-changing multi-market regulatory and business interactions redefine the landscape.
Every year business consultant CEB (Corporate Executive Board) issues a list of emerging risks that sharp companies need to address to stay ahead of the game. This year they recommend managers pay special attention to these 10 specific risks: … Continue reading
A recent article by A-J Secrist of Parker Poe Adams & Bernstein examines the relationship between risk management and compliance. Some analysts distinguish between these two things, with risk management more a strategic concern and compliance an operational one driven by regulatory oversight. Others might go in the opposite direction and confuse a compliance program with performing risk management.
There is no doubt that there is a distinction between risk management and compliance, simply because the functions may be performed by different people within an organization, and at different levels. However, as Secrist points out, “In essence, noncompliance is a type of risk.”
Compliance is a key element of a comprehensive risk management plan. … Continue reading