From fires to employee errors, all businesses face risks. Starting a business without risk is impossible, so to run successful businesses, small-business owners must understand and prepare for the ...

Companies that want to achieve a sustainable and profitable business need to focus on three dimensions of their operations, generally speaking. First is value protection, a foundational concern that ...

Integrated risk management (IRM) is becoming an increasingly popular term to showcase the importance of risk at the forefront of corporate governance, as well as inferring that, traditionally, these ...

The last decade has seen an explosion in technologies with tremendous potential impact on a business. From internet-connected devices to the algorithms that can make sense of the mountains of data ...

Operational risk scenario analysis has existed for a long time. Why is it under more scrutiny now? Patrick Naim, Elseware: I wouldn’t describe it as scrutiny so much as more ambitious objectives for ...

Note that these headlines not only point to the financial impact on companies, but also have consequences beyond their earnings—from the personal to the greater community. Many people, especially ...

Operational risk management encompasses the identification, assessment, monitoring and mitigation of losses arising from inadequate or failed internal processes, people, systems or external events.

Subjectivity plays an important, yet dangerous, role in risk management. By its very nature, subjective perspectives are held in the mind of the beholder, and, as a result, are dependent on the ...

For years, financial institutions, payment providers and treasury platforms have treated foreign exchange risk management and operational functions as independent domains. Businesses process payments ...