Orshi Terhemba Ephraim, GGA, MTRCN, AAT, ACA’s Post

#Comparing #Functions #Risk #Performance #Indicators #Key #Control In a business organization, managing risks is essential for ensuring long-term success and sustainability. One of the key activities of risk management involves monitoring and evaluating various indicators to assess the organization's risk exposure and performance. Three commonly used indicators in this context are Risk Performance Indicators (RPIs), Key Risk Indicators (KRIs), and Key Control Indicators (KCIs). They are all important tools used for monitoring risk within an organization or business venture. While they may seem similar, they each play a unique role in identifying and managing risks effectively. In this short presentation, we will compare and contrast these three types of indicators in terms of their definitions, purposes, and functionalities. Joel-Ahmed M. Mondol Yofi Yandri

#Compensating #Control #Business #Risk #Management Compensating controls in risk management refer to alternative measures or safeguards that are implemented to mitigate risk when the primary control measures are not feasible or effective. These controls are designed to provide an equivalent level of protection to reduce the potential impact or likelihood of risk occurring. Additionally, they act as substitutes or additional layers of security to ensure that the level of risk remains acceptable, even if the first line of defense is compromised or insufficient. Orshi Terhemba Ephraim, GGA, MTRCN, AAT, ACA Joel-Ahmed M. Mondol Huy Vu

This webinar will provide a high-level overview of what enterprise risk management (ERM) is, the three key phases, and how the process works. It will provide specific examples on how to complete three important risk assessments. Don’t miss this chance to get practical tools to mitigate risk. https://lnkd.in/g6htc7-6 📅 October 1, 2024 8:00 am – 9:30 am PT 9:00 am – 10:30 am MT 10:00 am – 11:30 am CT 11:00 am – 12:30 pm ET After this webinar you'll be able to: ✔ Have a high-level understanding of enterprise risk management (ERM) ✔ Understand the three ongoing phases of ERM and how risk assessments fit in ✔ Conduct an ERM risk assessment and an IT risk assessment ✔ Use the provided tool to develop an internal controls risk assessment . . . #cbwn #communitybanks #banking #communitybanking #banks #bankwebinar #banktraining #BankingInsights #ERM #riskmanagement #enterpriseriskmanagement

Enterprise-wide Risk Assessment (EWRA):- “Enterprise-Wide Risk Assessment (EWRA) is an exercise where we take all of the risks into account and determine our top risks or concerns. In turn, this sets our agenda for areas of improvement and demonstrate with confidence our risk appetite.” Inherent Risk • Represents the amount of risk that exists in the absence of controls Residual Risk • Represents the amount of risk that remains after controls (AML Program) are considered AMLCFT-UAE #amlcft #ewra #riskassessment #riskmanagement #residualrisk #inherentrisk #risk #moneylaundering

Establishing a clear third-party risk appetite can enhance due diligence efforts and decision-making processes. However, with the complexity of defining third-party risk appetite and risk tolerance, determining the best approach for your organization can be challenging. 📅 Don't miss this webinar with Prevalent on July 25 on strategies for calculating a third-party risk appetite that's right for your business! #TPRM #VendorRisk #RiskManagement #RiskAppetite

Establishing a clear third-party risk appetite can enhance due diligence efforts and decision-making processes. However, with the complexity of defining third-party risk appetite and risk tolerance, determining the best approach for your organization can be challenging. 📅 Don't miss this webinar with Prevalent on July 25 on strategies for calculating a third-party risk appetite that's right for your business! #TPRM #VendorRisk #RiskManagement #RiskAppetite

Establishing a clear third-party risk appetite can enhance due diligence efforts and decision-making processes. However, with the complexity of defining third-party risk appetite and risk tolerance, determining the best approach for your organization can be challenging. 📅 Don't miss this webinar with Prevalent on July 25 on strategies for calculating a third-party risk appetite that's right for your business! #TPRM #VendorRisk #RiskManagement #RiskAppetite

"This report provides an overview of the current state of #risk oversight practices by providing key data about the risk oversight practices in 377 organizations. In addition to providing detailed analysis of important components of risk management processes for the full sample, this 15th Edition of our report also highlights key findings for the subgroups of organizations shown in the table at the right. " "Organizations operate in a global environment where myriad uncertainties can arise and trigger risks impacting an organization’s strategic success. Organizations with a robust, enterprise-wide and strategically focused approach to managing risks increase the odds that these risks can be managed proactively so that key strategic initiatives stay on track. " #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse

Overview of enterprise risk management practice 2024👇👇👇

Establishing a clear third-party risk appetite can enhance due diligence efforts and decision-making processes. However, with the complexity of defining third-party risk appetite and risk tolerance, determining the best approach for your organization can be challenging. 📅 Don't miss this webinar with Prevalent on July 25 on strategies for calculating a third-party risk appetite that's right for your business! #TPRM #VendorRisk #RiskManagement #RiskAppetite