What’s it really like to work in the field of risk management? In conjunction with the Institute of Risk Management (IRM), Risk Xtra continues its new series of articles running under the banner ‘Tools of the Trade’ in which we ask practising professionals to offer…
Tag:
Operational Risk
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Business risk is foundational to business risk intelligence, but it’s also commonly misunderstood because its scope extends far beyond what security practitioners typically deal with on a daily basis. Broadly speaking, asserts Josh Lefkowitz, business risk refers to the possibility of experiencing lower revenue or a…
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Two-in-three procurement leaders “have limited or no visibility” beyond Tier One of supply chains
by Brian SimsAs many as 65% of procurement leaders have limited or no visibility beyond their Tier One suppliers. That’s according to Deloitte’s annual Global Chief Procurement Officer (CPO) Survey. While visibility of the supply chain is crucial for businesses to ensure factors such as meeting regulatory…
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Anvil, the travel and operational risk company, has connected its Employee Travel Monitoring System (ETMS) with short-term rental giant Airbnb. This direct connection will significantly ease the booking burden and enable organisations to maintain their Duty of Care requirements for corporate travellers now wishing to…
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ORIC International reports further global growth as Argo and Hartford Groups join membership
by Brian SimsORIC International, the provider of operational risk event data and content solutions, has announced that the Argo Group and The Hartford Financial Services Group will join as members of the organisation, further expanding ORIC’s global reach. With 41 member firms now submitting risk event information, ORIC…
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IRM and ORIC International publish guidance notes targeting operational risk for insurance sector
by Brian SimsThe Institute of Risk Management’s (IRM) Internal Model Industry Forum (IMIF) has launched two guidance booklets: Operational Risk Modelling: Common Practices and Future Development (created by ORIC International and the IRM) and Diversification Benefit: Understanding its Drivers and Building Trust in Numbers (created by the IRM). Capital requirements…
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Michael Sicsic is moving from his position as group risk director with Aviva plc to join the Financial Conduct Authority (FCA), where he’ll take up the role of head of department for general insurance focused on the retail sector. As a condition of this new appointment, Sicsic is…