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  • Blog
    April 11, 2018
    Financial Institutions Are Better Than Most at Bridging the Gap Between Procurement and Finance, But They Are Far From Perfect
    When Protiviti conducted a procurement survey, Bridging the Gap Between Finance and Procurement to Maximize Value, in 2017, the responses of organizations in the financial services industry (FSI) appeared to suggest that the industry has been the most successful among the industry groups represented in the survey at finding the balance between procurement and finance. On closer inspection,…
  • Blog
    April 16, 2018
    Three Fundamentals for Building a Solid Data Governance Program
    Time and again, we talk with clients who are neglecting perhaps the most important feature in a solid data strategy: data governance. With the explosion of data resulting from an increasing adoption of digital initiatives and the undeniable fact that we are now living in a data-driven world, it is more important than ever for organizations to recognize the importance of protecting data as a key…
  • Blog
    April 17, 2018
    New Security Threat Report by Protiviti Draws on Nine Years of Data, Offers a Road Map for Better Security
    Cybersecurity breaches of magnitude and consequences that used to be unthinkable a decade ago are happening with alarming regularity today. But while breaches have exploded in scope, the basic weaknesses that allow them to happen remain much the same and can be summed up in five categories — weak user provisioning, lack of employee awareness, a lag in patch management, ineffective system…
  • Blog
    April 19, 2018
    Making Fintech Fit — Banks Weigh Risks, Rewards of Fintech
    Forward-thinking banks are acquiring and partnering with fintech firms to survive and thrive in an increasingly tech-enabled marketplace. By adopting emerging technologies and enabling open APIs (application programming interfaces) to allow third parties to build applications and services around them — a concept known as open banking — banks are hoping to offer richer and more personalized…
  • Blog
    April 20, 2018
    Agile Risk Assessment: Reinventing RCSAs
    [caption id="attachment_5774" align="alignright" width="347"]Protiviti's Agile Risk Management Philosophy[/caption] Timely and accurate risk identification and assessment are critical to strategic decision-making. A risk and control self-assessment (RCSA) can be a practical tool for providing that information. Many organizations struggle, however, with the level of organizational resources…
  • Blog
    April 23, 2018
    Should All Energy Companies Be Planning for Blockchain?
    A quick Google search of “blockchain” and “oil and gas” predictably yields hundreds of thousands of results. Open some of these results and you will frequently see “Big Oil” and “BP” and “Shell.” As Big Oil represents only six of the thousands of energy companies, what does blockchain mean for everyone else? A dizzying number of new technology solutions are keeping companies across all…
  • Blog
    April 24, 2018
    Managing the New Currency: Developing a High-Performing Data Management Organization
    These days, the hot analogy in the analytics industry is that “data is the new oil.” Like oil, data must be found, extracted, refined and distributed. More companies are investing heavily in cutting-edge technologies like machine learning, artificial intelligence and big data processing to help them harvest, groom and apply data to the correct use case for maximum value. So why, then, in the…
  • Blog
    April 26, 2018
    Internal Audit Capabilities and Needs: Great “Tech-spectations”
    With a growing number of companies investing in cloud adoption, digitalization and data-intensive projects, Protiviti’s 2018 Internal Audit Capabilities and Needs Survey makes it clear that internal audit has arrived at a point where it needs to evolve its analytics and technological proficiency among all individuals within the function, as opposed to relying on a single technology “specialist…
  • Blog
    May 1, 2018
    Are You Ready for CECL Model Validation? The Answer Is a Resounding ... Maybe.
    Whether financial services organizations are prepared for the impact of the Current Expected Credit Loss (CECL) standard is a hot topic of conversation. The standard, issued in June 2016 by the Financial Accounting Standards Board (FASB) and set to take effect in 2020 for SEC registrants and 2021 for all other banks, represents a significant shift in how organizations account for expected…
  • Blog
    May 3, 2018
    Risk, Strategy, Culture: Internal Auditors Shoot for the Stars
    It is an amazing and exciting time to be an internal auditor. This is not a facetious statement. Stakeholder expectations are rising, creating opportunities for internal auditors to expand beyond their traditional role of policing internal control frameworks and consult at a high level in the organization and on a wide range of executive and board priorities. Audit plans are becoming…
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