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Financial institutions, such as banks, insurance companies, and investment firms, face various challenges in their daily operations. They have to deal with complex regulations, high …
Many financial organizations still rely on spreadsheets to manage their operational risk data. While spreadsheet is a powerful and versatile tool, it has some limitations …
A policy management solution is of utmost importance from a Digital Operational Resilience Act (DORA) regulation perspective. The DORA regulation aims to ensure the operational …
Standard operating procedures (SOPs) are essential for any business that wants to ensure quality, consistency and compliance in its processes. However, managing SOPs can be …
The financial sector is undergoing a rapid transformation due to the emergence of new technologies, changing customer expectations, and increasing regulatory demands. In this context, …
On March 29, 2021, the Bank of England (BoE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) jointly issued policy and supervisory statements to …
The use of information and technology is essential in the modern era as it supports complex systems used for daily activities. It plays a critical …
Basel defines Operational Resilience as a bank`s ability to deliver critical operations even at times of disruption. This would mean that the bank should have …
Impact Tolerance is quantifying the level of disruption, a critical business service can accommodate or absorb, before such disruption creates a significant impact or harm …
During last twelve to twenty four months we have all experienced extraordinary uncertainty primarily due to natural calamity, COVID-19 pandemic, unstable global economy, political differences …
Let’s first try and understand what is a BIA? Business Impact Analysis is a methodology which allows to predict the impact of disruption on your …
Operational disruptions, if not recovered speedily, may compromise the ability of financial institutions (“FIs”) to meet their business obligations, resulting in financial and reputational damage, …
The Business Process Model Notation (BPMN) is a graphical representation for specifying business processes in a business process model. The objective of BPMN is to …
Events of recent years like COVID-19, cyber-attacks, flood and storms etc. has reinforced the importance of managing and responding to operational risks. To ensure that …
Businesses across the globe have, in the last couple of years, seen exceptional uncertainty due to political tensions, economic turmoil, COVID-19 pandemic and others. Markets …
Risk Management Process is a methodology by which risks are formally identified, measured and treated to ensure that risk is avoided, transferred or mitigated. As …
Risk and Control Self Assessment process is a widely accepted methodology used by banks, financial companies, insurance companies and others to identify and assess the …
In simple terms, Key Risk Indicator (KRI) is a metric used to measure the level of exposure to risk. These are indicators that denote the …
On 22nd December, 2021 HKMA (Hong Kong Monetary Authority) came up with a Supervisory Policy Manual for Operational Resilience to provide Authorized Institutions (AI) with …
The Central Bank of Ireland`s objective of this guidance is to communicate to industry how to prepare for, respond to and recover and learn from …
The Federal Reserve, the Central Bank of the United States in August 2021 has released a paper intended to help community banks assess threats when …
The Covid -19 pandemic has clearly shown two trends within firms: The intensified use of technology and Operations can be managed through digital work force …
Learning begins with joining. Effective Onboarding contributes to a newbie commencing with confidence, feeling supported, and acclimatizing much sooner. Conversely, employees who spend weeks and …
Banks occupy a place of pride because of its structure of undivided attention and contemporary functions. They have come an extended way from merely performing …
In a growing interconnected digital economy, identity verification of an individual’s real-world identity against their digital one has become ever critical in fraud detection. The …
Operational Resilience assumes that things will go wrong, and it will force organizations to plan on how to recover from the disruption. It is a …
Who has not experienced being asked to show some kind of government ID, be it to receive your courier, or check into a hotel, or …
As per the Digital Identity Guidelines published by NIST, a US agency, Identity Proofing is verifying the claimed identity of an applicant by authenticating the …
In Jan 2020, Reserve Bank of India amended the KYC norms allowing banks and other lending institutions to use Video based Customer Identification Process (VCIP) …
Digital Transformation is bringing about a radical shift in the way you run your business, deliver services or manage your customers. The objective of digital …
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