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  • Blog
    June 18, 2020
    LIBOR Transition During the Pandemic: Is Your Program Management Office Ready to Take on the Challenge?
    Across the globe, governments and financial institutions continue to prepare for the shift targeted for the end of 2021, from the London Interbank Offered Rate, or LIBOR, to alternative risk-free rates (RFR). The deadline for retiring the LIBOR remains unchanged, according to various government and regulatory bodies, including the Bank of England and the Federal Reserve, despite significant…
  • Blog
    June 22, 2020
    CECL and the AICPA Practice Aid (Part 4): Modeling Considerations and COVID-19
    As we continue our series of blog posts examining the AICPA Practice Aid on preparing for the new current expected credit losses (CECL) standard, this post on modeling considerations is especially timely given the economic upheaval of the ongoing COVID-19 pandemic and the dramatic effect that it is having on loss models. Many of the assumptions built into January models were no longer valid by…
  • Blog
    June 23, 2020
    Data Privacy Isn’t Just One and Done: How to Stay on Top of Changes and Ensure Ongoing Compliance
    Two years ago, organizations were rushing to comply with the European Union’s (EU’s) General Data Protection Regulation (GDPR). After a flurry of activity and changes to privacy settings and disclosure, many felt they could move on once they’d checked that compliance box. But things have not remained static from a regulatory standpoint. In May, the European Data Protection Board published yet…
  • Blog
    June 23, 2020
    SOX Compliance Under COVID-19: The Show Must Go On (Part 2)
    Although the Securities and Exchange Commission (SEC) granted one 45-day extension for public companies subject to Sarbanes-Oxley (SOX) reporting requirements, the regulator still expects companies to appropriately protect investors and public interest by maintaining the full rigor of internal control requirements. As a result, there are a number of challenges that need to be addressed.…
  • Blog
    June 24, 2020
    Harnessing Intelligent Automation to Increase Resilience
    The COVID-19 pandemic has painted a sharp performance contrast between companies that are digitally mature and those that are not. These distinctions are likely to grow even sharper in the period following the global health crisis, with some companies permanently crossing into the world of intelligent process automation – necessitated during the lockdown by furloughs, remote work, a rise in cyber…
  • Blog
    June 25, 2020
    Cloud Oversight in Financial Services: Understanding Responsibility and Control
    As financial service and financial technology companies move critical infrastructure to the cloud, they have a shared responsibility with cloud service providers (CSPs) to safeguard sensitive information. Regulators are becoming more prescriptive in their oversight of cloud operations, revealing a gap between regulatory expectations and a frequent lack of clarity among CSPs and institutions about…
  • Blog
    June 26, 2020
    Persevering and Prospering in the Time of COVID-19: Keep Accounts Receivable Turning
    One of the many reasons businesses are suffering during the COVID-19 pandemic is that their customers are challenged in managing their cashflow, resulting in reducing or delaying payments. In addition, the accounts receivable function is not an easy one to operate remotely; billing operations and collections/cash application teams may be slower than usual as employees work from home. For some…
  • Blog
    June 30, 2020
    Getting to Resilient: Reimagining Crisis Management and Business Continuity Planning in a New Reality
    COVID-19 has exposed glaring deficiencies in business continuity and crisis management plans at organizations across all industries. And while executives and management today are focusing the lion’s share of their efforts on responding to the day-to-day upheaval caused by the virus, they should be preparing now for the possibility of a second wave that further disrupts business. In a recent…
  • Blog
    April 25, 2019
    Pace of Change and Resource Allocation Continue to Challenge Companies’ Vendor Risk Management, New Survey Confirms
    Running just to stay in place – this is what it feels like today for many companies trying to match their vendor risk management (VRM) efforts to the fast-changing risk environment and pressing regulatory demands. Incremental improvements in VRM made last year have been all but wiped out by new cyber threats, and the costs of running a vendor risk management program are rising. This is the…
  • Blog
    May 1, 2019
    Podcast from FS-ISAC Summit: Board-level Concerns about Cybersecurity, War for Talent and More
    Protiviti Managing Director Andrew Retrum is attending the Financial Services Information Exchange and Analysis Center (FS-ISAC) Annual Summit this week in Orlando. In this podcast, he shares some of the notable trends he’s hearing at the event. Podcast - Managing Director Andrew Retrum discusses notable trends from the FS-ISAC Annual Summit. Kevin Donahue: Hello. This is Kevin Donahue,…
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