Introduction A gap analysis is a powerful tool that helps organizations assess where their current risk management practices stand compared to desired goals or standards. Conducting a gap analysis in risk management allows you to identify deficiencies, improve processes, and align your organization’s risk management efforts with best practices like COSO ERM, ISO 31000, and […]
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Introduction Organizations increasingly rely on third-party vendors and suppliers to operate efficiently, but this reliance introduces new risks. A vulnerability in a third-party vendor’s system can lead to data breaches, regulatory non-compliance, or supply chain disruptions. Third-Party Risk Management (TPRM) ensures that organizations can identify, assess, and mitigate the risks posed by external partners. In
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Introduction The Middle East and North Africa (MENA) region is home to a diverse set of economies, each governed by unique regulatory frameworks that aim to ensure financial stability, corporate governance, risk management, and compliance with global standards. Regulatory bodies in MENA play a critical role in overseeing markets, protecting investors, and promoting economic growth.
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Introduction Compliance risk management is the process of identifying, assessing, and mitigating the risks associated with failing to comply with laws, regulations, and internal policies. In 2024, organizations are facing increasing regulatory scrutiny and complex legal environments. Failure to manage compliance risks can result in significant financial penalties, reputational damage, and operational disruptions. By implementing
How to Build a Risk-Aware Culture in Your Organization: Aligning Risk Management with Business Strategy Introduction Building a risk-aware culture is one of the most effective ways to ensure that risk management is embedded into daily business operations. A risk-aware culture empowers employees to identify, evaluate, and mitigate risks proactively, rather than treating risk management
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How to Conduct a Risk Assessment in 2024: A Guide Aligned with ISO 31000, COSO ERM, and NIST SP 800-30 Introduction In 2024, conducting an effective risk assessment is a critical step for organizations facing complex and interconnected risks. From cybersecurity threats to compliance issues, modern organizations must adopt a structured approach to identify, assess,
