Cloud Computing and the Enterprise Risk Management: Opportunities and Risks (Part 1/3)

Cloud Computing and the Enterprise Risk Management: Opportunities and Risks (Part 1/3) by: Amir R. Saghafi Lasemi CISRCP, CRCMP, CSOE, MMgt Governance, Risk, and Compliance (GRC) Consultant Introduction The swift and all-encompassing advancement of information technologies has benefited the realm of risk management with many substantial benefits while introducing noteworthy challenges in the meantime. Whereas the development and application of these technologies have helped streamlining and optimizing governance, risk and compliance (GRC) initiatives and related efforts across various organizations of size, industry and location, yet such have also led to the emergence of operational complications with prospective influence on the entire risk archetype of the enterprise. Of notable importance have been the introduction of the cloud computing to the business and enterprise landscape. By transcending beyond IT operations, the tangible benefits of cloud computing are indeed very broad in reach with potential to affect every strategic and functional aspect of the business.

Read more

The Importance of Risk and Issue Management in IT Project

The Importance of Risk and Issue Management in IT Project Be a part of IT projects means that you have to deal with project’s risks and issues.Although many people use the word risk and issue as an interchangeable words, but actually there is a difference between them. Risk is what could happen in the future. Any preparations you will do to deal with risk are done before anything happens. In other hand, issue is something that is happening right now, or has already happened. Understanding clearly the difference of risk and issue gives you more chance to treat them in the right way, through either risk management or issue management, to avoid loss.

Read more

Enterprise Risk Management and Strategy – Issues and challenges in Malaysian Landscape

Enterprise Risk Management and Strategy – Issues and challenges in Malaysian Landscape by Wee Hock Kee Chairperson, ERMA Asia The global financial crisis which enveloped the world since 2007 and reaching its height in 2009, has critically repositioned the Board of Directors’ responsibility for Enterprise Risk Management (“ERM”). Organizations have started to pay more attention to ERM, with best practices revolving around tackling of risks from a strategic perspective. More recently, KwekuAdoboli who cost UBS £1.3billion through fraud and false accounting, of which the Swiss bank was unaware due to weaknesses in their risk management and internal controls, has underscored heavily the importance of risk management in organizations during these turbulent times.

Read more

HR Risk Management of Key Employees Leaving

HR Risk Management of Key Employees Leaving Losing a credible, professional, and important employee can affect your business, and it affects the running of the operation as well. That’s why there are ways that you can always do when it comes to this HR problem in relation to professional risk management scheme.

Read more

Three Lines of Defense

Three Lines of Defense by Antonius Alijoyo Chairperson , ERMA The “Three Lines of Defense” is increasingly adopted by various organizations in order to establish risk management capabilities across the company and the whole organization’s business process, which is also known as Enterprise Risk Management (ERM). This approach is often referred as a 3LD model (Three lines of defense).

Read more

Corruption within the Organization: the Importance of Anti-Corruption Compliance

Corruption within the Organization: the Importance of Anti-Corruption Compliance The scandal in FIFA recently is quite a shocking news for the global citizens. The arrests of several senior FIFA officials are linked with the bribery offences. Unfortunately, since many years ago FIFA has faced rumors of corruption; there are indications of racketeering, wire fraud, and money laundering. This embarrassing scandal has become a wakeup call especially for organizations anywhere about the importance of anti-corruption compliance.

Read more

Corporate Governance Best Practices that are Beneficial to Every Organization

Corporate Governance Best Practices that are Beneficial to Every Organization Many people are with the view that only big established organizations or public companies with a long list of shareholders need to care about, or will be favored if corporate governance practices are implemented. The truth remains that every company, public and private, small and big, established or new startup, compete in a society where good governance is vital for business. There is no general size; nevertheless, a governance practice of the right size will cause a positive impact on the long-term viability and performance of every organization.

Read more

Climate Change and Natural Disasters within Corporate Risk Management Scheme

Climate Change and Natural Disasters within Corporate Risk Management Scheme In the past, companies didn’t seem to care so much about the effect of climate change or natural catastrophe to their business and operations, but as time goes by, it is proven that not only natural disasters or climatic change can affect companies in operation, they are also proven to create another economic and financial burden for the companies; which can affect the longevity and performance of the companies themselves.

Read more

ERM Practices in Nigeria

ERM Practices in Nigeria By: Samuel Temitope Apanisile B.Sc., MFP, CIPM, ACIMFA, ACCB, ERMCP National Coordinator of Nigeria – ERMA Global nigeria@erm-academy.org Nigeria is not exempted from the current volatility, uncertainty, complexity and ambiguity in the world today. It needs a holistic and structured approach of running and managing ventures (public agencies, private corporations and their projects).

Read more

The Importance of Risk Management for Data Protection Practice

The Importance of Risk Management for Data Protection Practice Data protection relied on a crucial instrument, which is risk management for meeting data protection laws. Risk management can also make sure for a decent data process and protect individuals’ rights and interests. To associate the role of risk management in data protection, there are three main focuses such as: Identifying and evaluating harms and another negative impacts process. Mitigating aspects that barely can be justified by offered benefits and other positive impacts. Obtaining and managing the risks remained.

Read more