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This Week in Consulting

Wednesday,March 20th, 2019

Four Key Steps to Fuel Proactive Tech and Cyber Risk Function

THIS WEEK’S MUST READ

“Building the right TCRM structure encompasses many elements, and it must be customized to fit the needs of your organization. The structure should include at least two separate lines of defense (LOD) working together to identify and monitor acceptable risk levels.”

Organizations—and their technology and cyber risk management (TCRM) functions-are being buffeted by changing dynamics bringing ever-increasing risks: mounting regulatory pressures, innovative new technology, an evolving workforce in need of new skills, and organizational shifts that create cyber and information security challenges.

This Week’s Must Read  features an insight piece from KPMG, where the consultants discuss key insights and cutting-edge solutions that were generated during KPMG’s third annual Technology and Cyber Risk Management Financial Services share forum.

Read on to Find out More: “Four Key Steps to Fuel Proactive Tech and Cyber Risk Function“,Vivek Mehta, Rob Westbrook and Luke Nelson, KPMG

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THIS WEEK’S VIDEO:

In this BriefingsDirect podcast, Dana Gardner of Interarbor Solutions and his panelists explore the ways that rapidly evolving technology is impacting the future of procurement.

INDUSTRY NEWS & INSIGHTS

  • EY set to launch startup incubator programme in Singapore :Professional services firm Ernst & Young is launching a start-up incubator programme in Singapore, with applications now open. | Charlton Media Group
  • Sia Partners Acquires Loft9 : Paris-based management and technology consulting firm has acquired Seattle-based Loft9, strengthening its tech-driven consulting platform. The move is a part of a strategy to breach a headcount of 500 consultants in the US by the end of 2020. | Businesswire
  • Deloitte and KPMG make risk and insolvency acquisitions in Australia :Two of the Big Four have made purchases in Australia, with Deloitte acquiring Sydney-based risk consultants Converging Data Australia, and KPMG picking up insolvency outfit Ferrier Hodgson. | Consultancy.asia
  •  Capco Launches New U.S. Insurance Practice: London-based consulting firm Capco has opened a new US insurance practice. It will be led by new US partner Frank Neugebauer, who was formerly digital chief technology officer at Genpact. | Capco

THOUGHT LEADERSHIP

  • Moving from analog to digital : Major global trends and client demand for seamless digital delivery of products and services are forcing firms to fundamentally change how they design, build and deliver their offerings to consumer and corporate clients alike. Convergence across — not just within — sectors is forcing firms to adopt new business and operating models. Even the new industry players that have gained traction must focus on staying relevant.  | Cindy Doe, Amy Brachio, Amy E. Gennarini, Marc R. Saidenberg, Adam C. Girling, Thomas Campanile, Samir Nangea and Mark Watson, EY
  • How Technology Is Shaping the Future of Operational Risk Management : Operational risk management is becoming a C-suite and board-level tool to inform strategic and day-to-day business decisions. Advances in technology to address regulatory and other industry factors can be a catalyst for helping organizations rethink their operational risk strategies and modernize capabilities to make risk programs more effective. | Kristina Davis ,Deloitte
  • Digital risk: Transforming risk management for the 2020s– The significant advantages of digitization, with respect to customer experience, revenue, and cost, have become increasingly compelling. The momentum to adopt the new technologies and operating models needed to capture these benefits continues to build. The risk function, which has seen significant growth in costs over the past decade, should be no exception.  | Saptarshi Ganguly, Holger Harreis, Ben Margolis, and Kayvaun Rowshankis, McKinsey
  • Global Risk Institute’s Annual Risk Outlook Survey: Cyber risk was deemed the risk with the largest potential impact for the third year in a row due to the increased frequency and sophistication of cyber-attacks. Rising political instability led geopolitical risk to move to the second spot on risk ranking, replacing household debt and housing market risks, which have both moved downwards.  | Global Risk Institute

EVENTS

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