IBM Big Data Hub

OCTOBER 30, 2023

Among the passed regulations were updated requirements for Form 8-K reporting as well as new guidance for Form 10-K Amendments. Under the rule surrounding Form 8-K reporting, public companies are now required to report data breaches within four days of an incident. A brief description of the nature and scope of the incident.

Risk Management 85

Risk Management Risk Reporting Management 85

IBM Big Data Hub

OCTOBER 26, 2023

A corporate sustainability report is a comprehensive document that outlines a company’s efforts, policies, practices and performance related to social, environmental and economic sustainability. Companies usually share their sustainability goals and achievements in these reports on an annual basis.

Reporting 82

Reporting Software Cost-Benefit Strategy 82

DataRobot Blog

APRIL 29, 2022

The stakes in managing model risk are at an all-time high, but luckily automated machine learning provides an effective way to reduce these risks. However, after the financial crisis, financial regulators around the world stepped up to the challenge of reigning in model risk across the financial industry.

Risk 111

Risk Modeling IT Risk Management 111

IBM Big Data Hub

OCTOBER 16, 2023

AI governance refers to the practice of directing, managing and monitoring an organization’s AI activities. It includes processes that trace and document the origin of data, models and associated metadata and pipelines for audits. Capture and document model metadata for report generation.

Risk 81

Risk Modeling Management Metadata 81

erwin

SEPTEMBER 17, 2020

According to erwin’s “2020 State of Data Governance and Automation” report , close to 70 percent of data professional respondents say they spend an average of 10 or more hours per week on data-related activities, and most of that time is spent searching for and preparing data. Benjamin Franklin said, “Lost time is never found again.”

Cost-Benefit 143

Cost-Benefit Data Governance Metadata Reporting 143

IBM Big Data Hub

DECEMBER 8, 2023

While plans will vary by necessity, here are five key steps to building a successful risk mitigation strategy: Step 1: Identify The first step in any risk mitigation plan is risk identification. Bring in stakeholders from all aspects of the business to provide input and have a project management team in place.

Risk 78

Risk Strategy Risk Management Insurance 78

IBM Big Data Hub

FEBRUARY 13, 2024

For example, organizations can use generative AI to: Quickly turn mountains of unstructured text into specific and usable document summaries, paving the way for more informed decision-making. Generative AI proves highly useful in rapidly creating various types of documentation required by coders. Automate tedious, repetitive tasks.

Enterprise 130

Enterprise Modeling Testing Data-driven 130

CIO Business Intelligence

JANUARY 19, 2024

“It’s a key issue that needs attention, and a CIO can and should set the tone and practices for effective stakeholder management,” says Brett Tucker, an adjunct professor of cyber risk management at Carnegie Mellon University’s Heinz College.

Management 119

Management Consulting Risk Strategy 119

O'Reilly on Data

MAY 18, 2020

To date, at least 1,200 reports of AI incidents have been recorded in various public and research databases. Materiality is a widely used concept in the world of model risk management , a regulatory field that governs how financial institutions document, test, and monitor the models they deploy. Transparency Is Key.

Risk 359

Risk Modeling Data Processing Software 359

erwin

SEPTEMBER 3, 2020

It documents your data assets from end to end for business understanding and clear data lineage with traceability. Data governance and EA also provide many of the same benefits of enterprise architecture or business process modeling projects: reducing risk, optimizing operations, and increasing the use of trusted data.

Data Governance 144

Data Governance Enterprise Risk Data Lake 144

John Wheeler

OCTOBER 20, 2020

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. These five capabilities support both integrated view of strategic, operational and technology risk as well as the related business outcomes, processes and assets.

Risk Management 52

Risk Management Risk Predictive Modeling Insurance 52

CIO Business Intelligence

NOVEMBER 23, 2022

Unlike other frameworks, EA doesn’t include a formal documentation structure; instead, it’s intended to offer a more holistic view of the enterprise. EA is also used in systems development, IT management and decision-making, and IT risk management to eliminate errors, system failures, and security breaches.

Enterprise 128

Enterprise Cost-Benefit Digital Transformation Strategy 128

IBM Big Data Hub

OCTOBER 4, 2022

This includes capturing of the metadata, tracking provenance and documenting the model lifecycle. The ability to track and share model facts and documentation across the organization provides backup for analytic decisions. Model risk management is used to identify, manage, monitor and report on risk and compliance initiatives at scale.

Metadata 104

Metadata Risk Risk Management Experimentation 104

Cloudera

AUGUST 12, 2021

A data-driven approach to talent management and development brings about greater transparency, reduced attrition and more effective training and enablement. A 2020 retention report by the Work Institute revealed that over 42 million employees in the US left their jobs voluntarily in 2019, and this trend appeared to be increasing.

Data-driven 107

Data-driven Manufacturing Insurance Risk Management 107

Jet Global

JUNE 25, 2021

Enter insightsoftware, a leading provider of financial reporting and enterprise performance management software. With tools that are efficient, flexible, and highly secure, insightsoftware is the financial reporting resource of choice for over 25,000 organizations worldwide. “We

Technology 95

Technology Finance Risk Management Manufacturing 95

erwin

APRIL 29, 2020

These tools range from enterprise service bus (ESB) products, data integration tools; extract, transform and load (ETL) tools, procedural code, application program interfaces (API)s, file transfer protocol (FTP) processes, and even business intelligence (BI) reports that further aggregate and transform data. Who are the data owners?

Metadata 111

Metadata Data Governance Key Performance Indicator Data Quality 111

IBM Big Data Hub

APRIL 4, 2024

Lots of innovation is happening, with new technologies emerging in areas such as data and AI, payments, cybersecurity and risk management, to name a few. A third-party risk management review, where the ISV needs to describe how it is complying to required controls. Most of these new technologies are born-in-cloud.

Cost-Benefit 63

Cost-Benefit Risk Management Risk Digital Transformation 63

Octopai

JANUARY 19, 2020

BCBS 239 is a document published by that committee entitled, Principles for Effective Risk Data Aggregation and Risk Reporting. The document, first published in 2013, outlines best practices for global and domestic banks to identify, manage, and report risks, including credit, market, liquidity, and operational risks.

Metadata 61

Metadata Risk Management Business Intelligence Data Governance 61

erwin

APRIL 30, 2021

According to Deloitte’s Enterprise Architecture’s Role in Recovering from a Crisis report, organizations typically respond to a crisis over three phases: respond, recover and thrive. Priority 3: Risk Management – Security and Compliance. Businesses are paying close attention to risk from internal and external sources.

Enterprise 131

Enterprise Digital Transformation Risk Management Risk 131

erwin

OCTOBER 17, 2019

Analyst firm Ovum recently released a new report titled Ovum Market Radar: Enterprise Architecture. it ensures not only access to proper documentation but also current, updated information. The Regulatory Rationale for Integrating Data Management & Data Governance. Data security/risk management.

Enterprise 106

Enterprise Digital Transformation Data Governance Risk Management 106

John Wheeler

JUNE 29, 2018

The same can occur for integrated risk management (IRM) technology customers. At the same time, IRM technology must ensure the objectives remain in alignment with the risk management goals of key stakeholders such as the board of directors, senior executives, regulators and investors. Vendor Risk Management.

Risk Management 49

Risk Management Risk Business Objectives Technology 49

IBM Big Data Hub

JANUARY 29, 2024

Business continuity and disaster recovery plans are risk management strategies that businesses rely on to prepare for unexpected incidents. Lower financial risk: According to IBM’s recent Cost of Data Breach Report, the average cost of a data breach was USD 4.45 million in 2023—a 15% increase since 2020.

Cost-Benefit 100

Cost-Benefit Risk Enterprise Advertising 100

CIO Business Intelligence

JUNE 8, 2023

This demand for skilled IT workers is reflected in the rising average salaries of certain job titles as companies compete for top talent, according to data from the 2023 Dice Tech Salary Report.

IT 140

IT Digital Transformation Software Risk 140

CIO Business Intelligence

MARCH 24, 2023

They must be accompanied by documentation to support compliance-based and operational auditing requirements. It must be clear to all participants and auditors how and when data-related decisions and controls were introduced into the processes. Data-related decisions, processes, and controls subject to data governance must be auditable.

Data Governance 142

Data Governance Management Metadata Data Quality 142

erwin

AUGUST 20, 2020

As a practice, EA involves the documentation, analysis, design and implementation of an organization’s assets and structure. With an enterprise architecture management suite (EAMS) , an organization can define and document its structure to more effectively determine how to achieve its goals. Innovation Management.

Enterprise 140

Enterprise Cost-Benefit Risk Data Governance 140

Octopai

JULY 9, 2020

Actually, effective data lineage delivers important enhancements to BI and enables informed decision-making , as it enables data teams to tackle numerous use cases such as regulatory compliance, system upgrades & migrations, M&A (system consolidation), reporting inaccuracies, business changes etc.

Insurance 86

Insurance Risk Management Machine Learning Metadata 86

IBM Big Data Hub

AUGUST 18, 2023

The Digital Operational Resilience Act , or DORA, is a European Union (EU) regulation that created a binding, comprehensive information and communication technology (ICT) risk-management framework for the EU financial sector. In the U.S., the average cost of a data breach was at its highest, reaching $9.48M.

Cost-Benefit 86

Cost-Benefit Testing Strategy Risk Management 86

CIO Business Intelligence

JANUARY 4, 2024

Consistency and risk management A security product/pattern might fulfill many security controls at the enterprise level. Simplified reporting When it comes to PCI security compliance, reporting can be a time-consuming and intricate task. However, a CCA simplifies this process.

Optimization 105

Optimization Cost-Benefit Reporting Enterprise 105

DataRobot Blog

MAY 10, 2022

Addressing the Key Mandates of a Modern Model Risk Management Framework (MRM) When Leveraging Machine Learning . The regulatory guidance presented in these documents laid the foundation for evaluating and managing model risk for financial institutions across the United States. To reference SR 11-7: .

Risk 64

Risk Modeling Machine Learning Data Quality 64

CIO Business Intelligence

AUGUST 30, 2023

Another CIO pointed to reading and implementing some of the concrete steps offered by the National Institute of Standards and Technology Artificial Intelligence Risk Management Framework report. This includes documentation of the risks and potential impacts of AI technology.

Enterprise 132

Enterprise Risk Measurement Software 132

CIO Business Intelligence

MARCH 24, 2023

However, there are many other challenges as well, including regulatory requirements, human capital, stakeholder engagement, alignment of materiality and performance, and the need to embed ESG into an existing ERM (Enterprise Risk Management) framework. “The Emerging technologies will further speed ESG progress.

Risk Management 52

Risk Management Consulting Metrics Data Quality 52

BizAcuity

APRIL 1, 2023

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. AML regulations and procedures help organizations identify, monitor, and report suspicious transactions and provide an additional layer of protection against financial crime.

Machine Learning 52

Machine Learning Predictive Analytics Predictive Modeling Risk 52

CIO Business Intelligence

SEPTEMBER 20, 2023

The best way to address this gap is to draft a simple vision statement written by product managers and delivery leaders in collaboration with stakeholders and agile teams. The writing process builds trust, and a documented vision builds a shared understanding of priorities.

Digital Transformation 135

Digital Transformation Uncertainty Metrics Business Objectives 135

CIO Business Intelligence

MARCH 13, 2024

According to a research report IDC released in November, based on a survey of over 2,100 business leaders and decision makers with responsibility for AI transformation, 71% of companies already using AI are seeing returns on their AI investments within 14 months, averaging $3.50 for every $1 spent. We did side-by-side testing,” he says.

IT 128

IT Consulting Testing Cost-Benefit 128

CIO Business Intelligence

JULY 6, 2023

From 1 January 2024, the provisions relating to supplier risk management will also apply to companies with more than 1,000 employees. CYVC offers the possibility to process large amounts of data (semi-) automatically in a short time frame and identifies risks based on different assessment methods.

Cost-Benefit 96

Cost-Benefit Risk Digital Transformation Risk Management 96

BizAcuity

JANUARY 18, 2023

Anti-Money Laundering (AML) is increasingly becoming a crucial branch of risk management and fraud prevention. AML regulations and procedures help organizations identify, monitor, and report suspicious transactions and provide an additional layer of protection against financial crime. Predictive Analytics. REFERENCES. [1]

Machine Learning 52

Machine Learning Predictive Analytics Predictive Modeling Risk 52

DataRobot

JANUARY 18, 2022

The purpose of these checklists is to avoid complacency and to ensure conscious observation of risk management. AI governance should be proportionate to the risk. But when there is material risk, it helps to list, then consciously investigate these risks. The Need For Documentation. Describing an AI System.

Risk Management 52

Risk Management Risk Data-driven Metrics 52