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Documenting and Managing Governance, Risk and Compliance with Business Process

erwin

Managing an organization’s governance, risk and compliance (GRC) via its enterprise and business architectures means managing them against business processes (BP). Governance, risk and compliance are treated as isolated bubbles.

Risk 83
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Exclusive: Amazon deployed secret strategy to dodge India's regulators, documents show

DataFloq

The documents, dated between 2012 and 2019, are reported here for the first time. With Amazon facing increasing scrutiny by Indian regulators, news of the strategy detailed in the documents could deepen the risks for the. By Aditya Kalra.

Strategy 200
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Why AI-based Digital Document Verification Is the Most Effective Way to Verify Identity and Impede Fraud

DataFloq

It is in this context that AI-based digital document verification emerges as a viable, efficient, and hassle-free solution. How does it prevent risks? “Can you show some kind of ID?”

Insurance 217
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What’s Missing in Most CISO’s Security Risk Management Strategies

CIO

At the foundation of cybersecurity is the need to understand your risks and how to minimize them. Individuals and organizations often think about risk in terms of what they’re trying to protect. But there is more to cybersecurity risk than just protecting data.

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Risks and Necessary Precautions Regarding Employee Data Leaks

Smart Data Collective

But in most instances, the real risk comes from within. From conversing on personal devices (BYODs) to sending documents to the wrong recipient, or using unsecured applications for transfers, the risk for potential leaks is high.

Risk 94
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What is Model Risk and Why Does it Matter?

DataRobot Blog

This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. 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.

Risk 91
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Why Managing Third-party Risk is Essential for Today’s CIO

CIO

Any organization that fails to take into consideration supply chain cybersecurity threats is putting itself at great risk. That’s why third-party risk management has become so important. Each additional third-party relationship magnifies an organization’s risk. Risk Managemen

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6 business risks of shortchanging AI ethics and governance

CIO Business Intelligence

Even if the AI apocalypse doesn’t come to pass, shortchanging AI ethics poses big risks to society — and to the enterprises that deploy those AI systems. Last month, a leaked Facebook document obtained by Motherboard showed that Facebook has no idea what’s happening with its users’ data. “We

Risk 114
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Automating Model Risk Compliance: Model Development

DataRobot Blog

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.

Risk 60
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Automating Model Risk Compliance: Model Monitoring

DataRobot Blog

If the assumptions are being breached due to fundamental changes in the process being modeled, the deployed system is not likely to serve its intended purpose, thereby creating further model risk that the institution must manage. Monitoring Modern Machine Learning (ML) Methods In Production.

Risk 56
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Steps Laptop Owners Must Take to Mitigate Risks of Data Loss

Smart Data Collective

You will probably recognize the importance of protecting your laptop data even more when you stop to think of all the valuable documents that you store on it. You might have tax returns, cryptocurrency wallets, work documents and a lot of other important data.

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Emerging Trends: 4 IRM Market Insights to Aid COVID-19 Business Recovery

John Wheeler

Integrated risk management (IRM) technology is uniquely suited to address the myriad of risks arising from the current crisis and future COVID-19 recovery. As more businesses are maturing their risk management practices, the buying center for IRM is shifting.

Risk 90
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Five Types of Concentration Risks to Monitor in Real Time

Insight Software

In the more modern terminology of business, we could rephrase that to say “be careful about concentration risk.”. When an organization is too reliant on one company or market segment to drive revenue or ensure an adequate product supply, it creates concentration risk.

Risk 83
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AI Advances Minimize Risk of Site Accessibility Lawsuits in eCommerce

Smart Data Collective

Now, a new benefit of AI is joining the list: avoiding the risk of website accessibility lawsuits. The recently updated policies stipulate that software, hardware, customer support and all documentation must meet certain accessibility standards. The post AI Advances Minimize Risk of Site Accessibility Lawsuits in eCommerce appeared first on SmartData Collective. AI has become an important factor in the ecommerce industry.

Risk 58
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20 for 20: IRM Critical Capabilities & Top 20 Functions / Features

John Wheeler

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. Risk & Control Documentation /Assessment. Risk Mitigation Action Planning.

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The Clock is Ticking: It’s Time to Up Your Supply Chain Risk Management Game

CIO Business Intelligence

Among dozens of presentations on the topic at the conference was “Software supply chain: The challenges, risks, and strategies for success” by Tim Mackey, principal security strategist within the Synopsys Cybersecurity Research Center (CyRC). Challenges and risks.

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COVID-19 Effects on Financial Services & Managing Risk

bridgei2i

The banking sector globally is definitely going to see impact, some more grave than the others and most of them are announcing short to mid term measure both from a customer and business risk mitigation standpoint. Understanding & Managing Risks.

Risk 52
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PODCAST: COVID19 | Redefining Digital Enterprises – Episode 7: The Impact of COVID-19 on Financial Services & Risk Management

bridgei2i

Episode 7: The Impact of COVID-19 on Financial Services & Risk. The Impact of COVID-19 on Financial Services & Risk Management. For example, using AI on SME documents submitted digitally for automated loan underwriting. PODCAST: COVID 19 | Redefining Digital Enterprises.

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What Is Model Risk Management and How is it Supported by Enterprise MLOps?

Domino Data Lab

Model Risk Management is about reducing bad consequences of decisions caused by trusting incorrect or misused model outputs. What Is Model Risk? The genesis of Model Risk Management was in the banking industry. Types of Model Risk. Model Risk Management Framework.

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Top 10 Reasons for Alation with Snowflake: Reduce Risk with Active Data Governance

Alation

In this blog we will discuss how Alation helps minimize risk with active data governance. Governance influences how an organization’s objectives are set and achieved, how risk is monitored and addressed, and how performance is optimized. Alation Reduces Risk with Active Data Governance.

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What is a Data Curation and Enrichment Hub, and Why do I Need One?

Grooper

The heart of digital transformation is data, and organizations without a clear strategy for data curation and enrichment from documents are at risk of failed transformation and missing out on massive revenue opportunities. Transformation of document data into revenue generating assets.

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2 Success Factors Every Top IRM Tech Solution Must Deliver

John Wheeler

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. Gartner evaluates IRM technology solutions for balance by determining how well they enable the six primary IRM technology use cases: Digital Risk Management. Vendor Risk Management.

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What You Can Do NOW to Manage Your Software Supply Chain Risk

CIO Business Intelligence

It’s more important than ever to put practices in place to manage your supply chain risk. Build a software supply chain risk management (SSCRM) program. This framework defines parameters for implementing a comprehensive risk management program and a formal C-SCRM program.

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5 Strategies For Keeping Your Company’s Sensitive Data Secure

Smart Data Collective

Properly safeguard physical documents. You and your employees should treat sensitive paper documents with the same level of attention as you treat your online transactions. If the record has served its purpose in your office, keeping it around might be an unnecessary security risk.

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Top Use Cases for Enterprise Architecture: Architect Everything

erwin

it ensures not only access to proper documentation but also current, updated information. Data security/risk management. Today’s enterprise embraces data governance to drive data opportunities , including growing revenue, and limit data risks, including regulatory and compliance gaffes. In an M&A scenario, businesses need to ensure their systems are fully documented and rationalized.

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The Value of Data Governance and How to Quantify It

erwin

Risk Management and Regulatory Compliance. Risk management, specifically around regulatory compliance, is an important use case to demonstrate the true value of data governance. According to Pörschmann, risk management asks two main questions.

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3 Top Email Security Practices to Prevent a Data Breach

Smart Data Collective

The World Economic Forum has included cyber-attacks and data breaches in the list of top global risks in 2020. People pass on relevant personal information, financial information, confidential documents, etc., Cyber-attacks have emerged as a big threat to the world.

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Database Activity Monitoring – A Security Investment That Pays Off

Smart Data Collective

During this process, you need to analyze your data assets, categorize and prioritize them, conduct a risk assessment, and establish appropriate monitoring and response techniques.

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Use Text Analytics Technologies To Handle Mountains Of Unstructured Data

Forrester's Customer Insights

Enterprises are sitting on mountains of unstructured data – 61% have more than 100 Tb and 12% have more than 5 Pb! Luckily there are mature technologies out there that can help. First, enterprise information architects should consider general purpose text analytics platforms. These are capable of handling most if not all text analytics use […].

IT 32
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Data Preparation and Data Mapping: The Glue Between Data Management and Data Governance to Accelerate Insights and Reduce Risks

erwin

A company can’t effectively implement data governance – documenting and applying business rules and processes, analyzing the impact of changes and conducting audits – if it fails at data management. These source mappings generally are documented across a slew of unwieldy spreadsheets in their “pre-ETL” stage as the input for ETL development and testing. And there’s control of that landscape to facilitate insight and collaboration and limit risk.

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Binance can't be supervised properly, says UK financial watchdog

DataFloq

LONDON (Reuters) -The world's biggest crypto exchange Binance is not capable of being supervised properly and poses a significant risk to consumers, Britain's Financial Conduct Authority (FCA) said in a document published on Wednesday. By Huw Jones.

Risk 248
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Are Data Governance Bottlenecks Holding You Back?

erwin

While acknowledging that data governance is about more than risk management and regulatory compliance may indicate that companies are more confident in their data, the data governance practice is nonetheless growing in complexity because of more: Data to handle, much of it unstructured.

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Digital Transformation Examples: Three Industries Dominating Digital Transformation

erwin

Its past successes – and future potential – are well documented, chronicled in the billion-dollar valuations of the frontrunners in the practice. Mitigating Digital Transformation Risks. Risks come with any investment. But in the context of digital transformation, taking risks is both a necessity and an inevitability. A recent PwC study found that successful digital transformation risk-takers “find the right fit for emerging technologies.”.

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Data Governance Makes Data Security Less Scary

erwin

While sometimes at rest in databases, data lakes and data warehouses; a large percentage is federated and integrated across the enterprise, introducing governance, manageability and risk issues that must be managed. Knowing where sensitive data is located and properly governing it with policy rules, impact analysis and lineage views is critical for risk management, data audits and regulatory compliance. Happy Halloween! Do you know where your data is? What data you have?

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Using Strategic Data Governance to Manage GDPR/CCPA Complexity

erwin

Modern, strategic data governance , which involves both IT and the business, enables organizations to plan and document how they will discover and understand their data within context, track its physical existence and lineage, and maximize its security, quality and value. Identify regulatory risks and guide the fortification of network and encryption security standards and policies by understanding where all personally identifiable information is stored, processed and used.

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Five Benefits of an Automation Framework for Data Governance

erwin

It is possible to scan, pull in and configure metadata sources and targets using standard or custom adapters and connectors for databases, ERP, cloud environments, files, data modeling , BI reports and Big Data to document data catalogs, data mappings, ETL (XML code) and even SQL procedures of any type. Proves the value of data lineage and impact analysis for governance and risk assessment.

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SoftBank-backed face-scan firm rebrands U.S. unit to add distance after blacklisting: sources

DataFloq

The unit is selling its cloud-connected products under the new name at a time of heightened concern in the United States about the national security risk of Chinese firms collecting and using the personal data of U.S. By Sam Nussey. TOKYO (Reuters) - The U.S.

Risk 244
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Expedite Trade Finance Transactions with Intelligent Automation

DataFloq

The entire process involves high risk as the buyer and seller are in different geographies with a chance to get duped in spite of parting with the money and goods/supplies. Hence banks get involved from either side to hedge off risk and take care of the financial transaction and goods exchange giving rise to a new branch in banking – Trade Finance. Trade is a sign of a booming economy. It is executed between different geographies and time zones.

Finance 193
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U.S. SEC allows Apple shareholder's push for details on non-disclosure

DataFloq

Securities and Exchange Commission has denied Apple Inc's bid to exclude a shareholder proposal that would require the company to inform investors about its use of non-disclosure agreements and other concealment clauses, according to a document viewed by Reuters.

Risk 224
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The Automated Approach to Ensuring Data Privacy and Hygiene – Smart Data Transformation Solutions

DataFloq

One of the established and proven technologies, Optical character recognition ( OCR ) has disrupted the traditional document management approach and remains as relevant as ever. It is the perfect solution for digitizing loads of electronic and paper documents.

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What Is eKYC? And Why Is It Essential To Digital Banking?

DataFloq

Rather than expecting customers to submit physical copies of identification documents, eKYC relies on the electronic submission of digital copies of these documents and biometric information. It lowers the time-to-revenue: eKYC also standardizes procedures and documentation.

IT 139
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A Combined Broadcom & VMware: Clouds and Sovereignty

CIO

These risks, as well as other risks related to the proposed transaction, are included in the registration statement on Form S-4 and proxy statement/prospectus that has been filed with the Securities and Exchange Commission (“SEC”) in connection with the proposed transaction.

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4 Ways to Better Manage and Govern Financial Services and Insurance Models

Domino Data Lab

Rather, AI and ML models need to be monitored for validity, and often, they also need to be re-explained and re-documented for regulators.