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  • Blog
    September 10, 2018
    Agile Risk Management: Financial Institutions Expand Business Control Functions to Navigate the Digital Future
    Business control functions — operational teams with a primary focus on risks, controls and compliance — are growing rapidly in the financial services industry, with the number of full-time-equivalent employees more than doubling at some large financial institutions every year since 2014. It’s part of a trend toward a flatter, more agile risk management philosophy. Applying the taxonomy of the…
  • Blog
    September 14, 2018
    Vendor Risk Management in Financial Services: A Closer Look
    Third-party risk has been on the forefront of the minds of risk officers, compliance officers, information security officers, heads of procurement, and even CFOs of banks and other financial institutions for well over a decade. In the extended podcast below, Chris Monk, a Managing Director with Protiviti's Business Performance Improvement group and a leader of our Third-Party Risk Management…
  • Blog
    September 17, 2018
    How Finance Should Tackle Post-Merger Integration: Plan for the Expected! 
    Whether organizations involved in merger and acquisition (M&A) activities have been fortunate to be among the 20 percent whose deal objectives for synergies were successfully met, or among the 80 percent that failed in that regard, one fact rings true for the CFO and his or her team: “There will be significant post-merger clean-up work to get the books and records stabilized.” The level of…
  • Blog
    September 19, 2018
    So You Want to Use RPA in Audit — Here’s How You Start
    Robotic process automation (RPA) has been gaining traction as an efficient way to automate labor-intensive and repetitive tasks across a variety of business functions, including finance, accounting, technology, legal, HR, and, increasingly, audit and compliance. As the popularity of this relatively simple and affordable technology increases, internal audit departments are starting to realize…
  • Blog
    September 21, 2018
    Data Tops Priorities in New Finance Survey by Protiviti
    A new Finance Trends survey by Protiviti, released yesterday, confirms what many CFOs already know — that data means everything in finance. The specific data priorities this year, however, are revealing — the security and privacy of financial data has climbed to priority number one, a concern no doubt driven by increased use of finance cloud applications. It is followed in importance by financial…
  • Blog
    September 25, 2018
    GDPR: Dealing With the Mandatory 72-Hour Breach Notification Requirement
    Article 33 of the General Data Protection Regulation (GDPR) requires that, in the event of a personal data breach, the data controller – without undue delay and, where feasible, no later than 72 hours after becoming aware of it – notify the appropriate supervisory authority. Organizations appear to be taking this requirement to heart. The Information Commissioner’s Office (ICO), the UK’s data…
  • Blog
    September 26, 2018
    Aggressive M&A in the Oil Patch — Avoid a Dry Hole With a Playbook
    With sub-$50-per-barrel risk largely subsided, optimism abounds in the oilfield. (See figure.) Recent billion-dollar deals like Concho Resources’ $9.5B acquisition of RSP Permian and Devon Energy’s $3.125B divestiture of its stake in EnLink Midstream may put pressure on others to make deals to stay competitive. While certain deals are relatively safe, such as land swaps in the Permian basin,…
  • Blog
    October 1, 2018
    The Responsible Tech Firm Series Part 2: Can You Hear the Regulatory Wake Up Call?
    Until very recently, technology firms have enjoyed a life relatively free of regulation and compliance worries. That’s about to change thanks to a growing demand for transparency, data security and privacy, and the fact that technology firms are partnering with other firms in highly regulated industries, such as financial services and health care. Regulation is coming. Get ready. This is your…
  • Blog
    October 2, 2018
    Dispatches from the 2018 IIA Financial Services Exchange Conference
    Protiviti is attending, exhibiting and speaking at the 2018 Financial Services Exchange Conference, hosted this week by The Institute of Internal Auditors (The IIA) in Washington D.C. I’ve been attending some of the many sessions and speaking with clients and colleagues at the event, and I wanted to share some key learnings and takeaways from Day 1: A Conversation With Senator Chris Dodd Former…
  • Blog
    October 3, 2018
    Creating Business Value Through Effective Third-Party Risk Management Auditing
    At The IIA Financial Services Exchange conference in Washington, DC on October 1-2, I had the honor of moderating a panel discussion on the role of internal audit in creating value through third-party risk management. The panelists were: Abel Clark, CEO of TruSight Amy Hellen, Head of Third-Party Risk Management at TD Bank Maz Kothari, Managing Director at JPMorgan Chase James McDonald,…
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