The RiskTech Journal
The RiskTech Journal is your premier source for insights on cutting-edge risk management technologies. We deliver expert analysis, industry trends, and practical solutions to help professionals stay ahead in an ever-changing risk landscape. Join us to explore the innovations shaping the future of risk management.
NYDFS's AI Cybersecurity Guidance Explained: An IRM Approach for Banks Nationwide
On October 16, 2024, the New York State Department of Financial Services (NYDFS) issued groundbreaking guidance addressing the cybersecurity risks of artificial intelligence (AI). The guidance highlights the dual-edged nature of AI in financial services—offering unparalleled opportunities for efficiency and growth while introducing sophisticated cyber threats. As AI technologies evolve, so do the tactics of cybercriminals, necessitating a robust and integrated approach to risk management.
How Integrated Risk Management Aligns with the DOJ's Updated 2024 Guidance on Corporate Compliance Programs
The DOJ's updated guidance is critically important for U.S. companies right now because it underscores the necessity of a unified and strategic approach to risk management. It emphasizes the design and implementation of effective compliance programs and their practical application and continuous evolution in response to emerging risks. Failure to align with this guidance could result in severe penalties, reputational damage, and loss of stakeholder trust.
Elevating Fairness in Compliance: A Strategic Imperative for Integrated Risk Management
IRM transcends traditional risk management by incorporating GRC into the domains of ERM, ORM, and TRM, ensuring that governance and compliance are not isolated but integrated with all risk management activities. This comprehensive approach is crucial in an era where banking innovations such as digital platforms, and products like Buy Now Pay Later (BNPL) and Earned Wage Access (EWA), are rapidly evolving. These innovations, while beneficial, introduce complex compliance and operational risks that require an integrated approach to manage effectively.
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Managing Risk, Embracing Technology
In today's dynamic business landscape, managing risk and embracing technology are essential components of sustainable success. The RiskTech Journal delivers timely insights for business leaders seeking better ways to manage risk using modern approaches and tools. Harnessing the power of technology enables businesses to optimize processes, enhance decision-making, and stay competitive in an increasingly digital world.
Browse the latest RTJ insight articles and news updates and below
The RiskTech Journal Online Subscription is a premier resource for executives and professionals focused on the intersection of risk management and technology. It provides subscribers with access to a curated collection of articles and expert insights designed to enhance risk management strategies through technological innovation. With its online format, the RiskTech Journal offers flexible access to critical information, helping leaders make informed decisions and stay competitive.