While the idea of integrating risk management and compliance has never been completely discarded, it has yet to be widely accepted. In this article, Kenneth Hardin analyzes this concept and provides his own understandings. Hardin references the expansion overview piece from Thomson Reuters and also the outcomes of the TSAM Europe 2012 Conference: The resistance can be attributed to a variety of factors, amongst them institutional inertia and the general wisdom that you don't want the police (risk management) making the laws (compliance and governance). And outside the financial sector, the discipline of risk management extends more fully to non-compliance issues, like manufacturing tolerances Figuring out where risk management best fits in your organization can be an extremely daunting task. However, Hardin warns that simply identifying risks and then monitoring them with the hopes that nothing actually goes wrong is no longer going to cut it.
Comment ID: 260
Comment Date: 2012-05-12 00:47:56
Comment Author: IT Weekly Articles 5/14/2012 – BEAR Data Solutions
Author Url: http://www.beardatasolutions.com/blog/weekly-it-articles/it-weekly-articles-5142012/
Author IP: 18.104.22.168
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