Below is Michael Rasmussen’s article in The IRM Global Risk Trends 2023 report , published by the Institute of Risk Management (The IRM). The complexity of business combined with the intricacy and interconnectedness of risk and objectives necessitates that the organization implements a strategic approach to business and operational risk and resiliencein 2023. Gone are the years of simplicity in business operations. Exponential growth and change in risks, regulations,globalization, distributed operations, competitive velocity, technology, and business data encumber organizations ofall sizes. Keeping changes to business strategy, operations, and processes…

The Organization: an Interconnected Web of Relationships No man is an island, entire of itself; Every man is a piece of the continent, a part of the main. English Poet John Donne’s Devotions Upon Emergent Conditions (1624) found in the section Meditation XVII. Substitute ‘man’ with ‘organization’ and seventeenth-century English poet John Donne could be describing the…

Tsunami of Change Overwhelms Compliance Managing and keeping up with change is one of the greatest challenges for financial services organizations in the context of compliance management. The dynamic and interconnected nature of regulatory change and how it impacts the organization are driving strategies to mature and improve regulatory change and compliance management as a defined process. The…

The modern organization is a complex array of transactions, processes, and relationships. This is challenging to manage within a single jurisdiction, but becomes even more complex, bridging on the word chaotic, when the organization deals with an interconnected mess of subsidiaries, divisions, relationships, and cross-border transactions. Even a small organization faces a complex web of…

GRC 20/20’s Michael Rasmussen will be speaking on the blog below in an ESG context on the webinar: Policy & Training Management: A Foundation of a Successful ESG Program From time to time, people ask why policies matter. The answer, at its most basic, is that when an organization fails to establish strong policies, the…

GRC 20/20’s Michael Rasmussen will be speaking on the blog below in an ESG context on the webinar: Policy & Training Management: A Foundation of a Successful ESG Program The scenarios of ethical and compliance exposure across business operations and frontline employees are unlimited. Some involve malicious employees, others could be inadvertent mistakes, while some…

Last week I had an amazing week of GRC interactions, or G[P]RC with the P being performance), in the Middle East. I was the keynote at the G[P]RC Summit in Riyadh and in Dubai. I am also interacting on a few RFP development projects in the Middle East as well. The Middle East is the…

Integrity is everything to an organization. If I could rebrand the Chief Ethics and Compliance Officer (CECO) I would call it the Chief Integrity Officer, but we already have a CIO in the Chief Information Officer. Ethics and compliance done correctly is the bastion of corporate integrity and corporate ethical culture. That is what compliance…

In today’s ever-changing economy, mortgage lenders and service providers face a growing number of regulations and risks in compliance. This opens up an opportunity for organizations to rearchitect their compliance processes and leverage automation to remain competitive in this uncertain environment. — Mortgage lenders and service providers, as a segment of the financial services industry,…

Wow! 2022, what a rollercoaster of a year for GRC – governance, risk management, and compliance. Top discussions this past year have been around ESG, risk agility, resilience, third-party risk in the extended enterprise, compliance and regulatory change, and policy management. We are still feeling the impact of the COVID pandemic combined with geopolitical risk…

Below is an abstract and the video of my keynote from the Konnect 2022 conference. My next keynote will be at #RISK in London on November 16th and 17th where I will also be the chair/host of the conference, and doing a special executive breakout session on ESG. The keynote video details the challenges organizations…