Growing Importance of Process Visualisation in Operational Risk & Resilience Management

Process Visualization for Operational Risk & Resilience

Embarking on a journey through the realms of Process Visualization, Operational Risk, and Operational Resilience. let us understand the Growing Importance of Process Visualization in Operational Risk & Resilience Management. What is Process Visualization? Process visualization Involves creating and presenting graphical representations of workflows and activities, ranging from simple to intricate. In addition to delineating […]

Fortifying Digital Frontiers: DORA’s Role in Enhancing ICT Risk Management

DORA's Role in Enhancing ICT Risk Management

In the complex world of contemporary finance, where new digital innovations occur at a dizzying rate and new cyber dangers appear at every turn, the Digital Operational Resilience Act (DORA) of the European Union serves as a beacon to guide the financial sector across these treacherous waters. Financial institutions may rest assured that their operations […]

The ICT Risk Management Revolution: An Outline of DORA Articles 5-16

ICT Risk Management: Outline of DORA Article 5-16 - Gieom

Due to continuous digital advancements, the financial sector is seeing significant hurdles in handling and reducing information and communication technology (ICT) risks. The Digital Operational Resilience Act (DORA) by the European Union aims to strengthen the digital infrastructure of financial institutions. Articles 5-16 of DORA offer a detailed plan for improving operational resilience by highlighting […]

Optimizing Operational Risk: A Strategic Edge for Your Competitive Success

Optimizing Operational Risk

The Basel Committee on Banking Supervision defines operational risk as the risk of loss resulting from inadequate or failed internal processes, systems, and people. Operational risk also encompasses the risk of loss arising from external events, including but not limited to natural disasters, cyber incidents, and other unforeseen events beyond an institution’s control. In the […]

Governance, Risk and Compliance

Governance, Risk and Compliance (GRC) Solutions and Software Seamless Compliance, Unified Risk and Strategic Governance   Request a Demo In the ever-evolving landscape of modern business, the need for robust Governance, Risk, and Compliance (GRC) solutions has never been more critical. Organizations face complex challenges, from regulatory changes and data security threats to operational risks […]

Operational Risk Management

Operational Risk Management Solution

Operational Risk Management Organizations face various operational risks due to the dynamic and complex nature of the business environment. These risks include cybersecurity attacks, natural calamities, regulatory non-compliance, human errors and more. To ensure business continuity and resilience, organizations require effective and flexible operational risk management solution that can assist them in mitigating these risks […]

Key Highlights of APRA`s Discussion Paper on Strengthening Operational Risk Management

Key Highlights of APRA`s Discussion Paper on Strengthening Operational Risk Management

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 regulated entities are well placed to manage operational risk and respond to business disruptions when they inevitably occur, APRA (Australian Prudential Regulation Authority) is consulting on a new prudential standard […]

An Integrated Risk and Resilience Framework – A Better Approach to Manage Uncertainty

An Integrated Risk and Resilience Framework – A Better Approach to Manage Uncertainty

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 today have put additional pressure on risk officers to safeguard the firm due to extreme conditions like changing consumer preferences, technology advancements, regulatory changes, competitive pressures, globalization etc. This dynamic […]