Risk and Control: Ideas for a better tomorrow
A contrarian view on Risk and Control to make tinkle curiosity leading to creative and critical thinking.
Loyalty programs are the in thing and almost every organised retailer and large number of service providers runs the program. The intention behind running this program is to provide reasons (being discount, future benefits, exclusivity, part of a fraternity, community, etc) to customer to shop again and again. Besides the usual operational uncertainty regarding .. […]
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Have you included vendor audit/ contract compliance as part of your audit plan? Vendor Risk is becoming a greater concern as organization is outsourcing increasing amount of work. Earlier there used to be a handful of vendors and type of goods and services used to be limited to what an organisation can not do its own. […]
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“Audit Committee Members don’t understand the risk. Promoters feel that Audit Committee are too much into finance. The Independent directors forming audit committee are retired person from government or retired partners from professional firms. They think only about finance and missing the bus for emerging risks. They are not geared up for thinking in terms […]
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What is risk appetite? What does it mean? This question has set the ball rolling in an informal group of risk professionals. Everyone has a view on the same. Some views were borrowed from financial industry, some view were created/ adapted for non-financial industries. One of the reason of confusion is analogy of appetite with […]
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Recently I got the honor of being part of a panel discussion on “Risk Management Mistakes Many companies make” This session was moderated by An Independent director and other panelists included: A CRO and Head of Risk of a life insurance company Head of GRC for India and SAARC for a reputed GRC company, Head […]
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Family Business faces some risks which are critical but sensitive, which are often not raised under the mistaken belief that these risks do not pertain to enterprise.
Continue ReadingCoursera Project (Click to view the project file) Every Risk is also an opportunity. An opportunity to make life better by doing risk management. Drought: which used to be a regular feature in the rural parts of India, was the outcome of non harvesting of rain water, and water wastage. Every year, monsoon bring rains, a […]
Continue ReadingCyber-risk is in the limelight. It is now coming in top 10 risks in all surveys. Cyber-risk is like a hurdle which is bound to cause accident on an expressway where you are required to drive at a high speed. A majority of hurdles can be navigated by staying alert. However some of the hurdles are not visible and […]
Continue ReadingBackground In 2013 President Obama has declared that “Cyber threat is one of the most serious economic and national security challenges we face as a nation” and that “America’s (country’s) economic prosperity in the 21st century will depend upon cyber security.”. Cyber risk/threat has taken the center stage today. It has steadily moving up in […]
Continue ReadingI have come across an interesting question on linkages between Risk and Control. Usually we start with risk and identify controls to mitigate the risk. Now imagine a scenario, where you have taken over a new position and the first request that comes to you is listing of risk that a control was supposed to treat/ […]
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