Fusion Risk Management’s Post

With less than a year to go until the January 2025 deadline to meet the requirements of the Digital Operational Resilience Act (DORA) regulation, it is critical that organizations work to have a clear and robust third-party risk management (TPRM) program in place to ensure compliance. Read our latest blog by Fusion's Senior Product Marketing Manager Mandy Leavell to learn about why TPRM must be fully integrated into your DORA program: https://bit.ly/3w39rHH #RegulatoryRequirements #Regulations #Resilience #OperationalResilience #RiskManagement #ThirdPartyRiskManagement #ThirdPartyRisk #BusinessContinuity #Compliance

“No matter the size, industry, or location, every business looks to achieve four IRM objectives — better performance, stronger resilience, greater assurance, and cost-effective compliance.” In an era where businesses encounter various financial, operational, regulatory, and reputational threats, IRM (Integrated Risk Management) emerges as a strategic framework designed to consolidate and streamline risk-related activities across an organization. It embodies a fundamental shift from the traditional fragmented and reactive risk management practices to a proactive and integrated methodology that recognizes the interdependencies between different risk categories. Learn more about IRM and how it can benefit your organization in this insightful article: https://lnkd.in/g2FfBrUu #IRM#IntegratedRiskManagement#riskmanagement#businessstrategy#organization#interdependencies

As is often the case with any piece of technology, signing the contract is only the first step. Getting effective use out of a new risk management information system (RMIS) can only happen when you make some crucial, foundational decisions early in implementation. Learn about some things to consider when trying to set your RMIS up for success from the get-go: https://hubs.ly/Q02qlH2z0 #riskmanagement #rmis #insurtech

Are your third-party risk management (TPRM) strategies ready for the future? With the introduction of the Digital Operational Resilience Act (DORA), the Network and Information Systems Directive (NIS2) and the integration of artificial intelligence (AI), 2024 will be a transformative year for TPRM. Read PwC Ireland's latest insight to learn how these changes will reshape risk management practices and how our TPRM Managed Service can help your organisation stay ahead. #TPRM #RiskManagement

The ever-changing regulatory landscape makes it essential for financial institutions, insurers and other impacted businesses to have a sound risk management program in place. Our latest article highlights the top 8 risk reports that regulated organizations can use to guide decisions and create a positive risk culture: https://lnkd.in/ggNFTr3B #RiskManagement #RegTech #GRCtech #GRCsoftware

According to our recent Digital Trust Insight Survey 2024, 42% of Irish respondents identified third-party breaches as a top threat. This underscores the urgency for robust third-party risk management (TPRM) practices. TPRM is now a commercial necessity. In PwC Ireland's latest insight, discover how the convergence of DORA, NIS2 and AI in TPRM presents organisations with challenges and opportunities. Get in touch to understand how our TPRM team can help you and your business successfully navigate this challenging area. #TPRM #RiskManagement

Some great insights on how to enhance your Third Party Risk Management (TPRM) in response to increased regulation and new technologies (e.g. AI) from Will and the team from PwC’s Cyber Center in Cork…

It’s always inspiring to see my teammates offer risk management solutions that get to the heart of what it’s all about: Delivering a competitive advantage. In particular, I look forward to every chance I get to work alongside our people and come up with solutions that combine in-depth human oversight with the latest ERM tools. That’s why this article was such a fun read. We’re navigating these trends across multiple industries, and It’s already been an incredibly rewarding year. I can’t wait to see what the rest of 2024 brings! #riskmanagement #technology

In today’s rapidly evolving business environment, where technology and external partnerships are increasingly integral to operations, managing risk has become a multifaceted challenge. Business leaders often find themselves navigating through a complex maze of risks, seeking to safeguard their organizations against the unforeseen. Within this landscape, two critical frameworks emerge: Enterprise Risk Management (ERM) and Third-Party Risk Management (TPRM). While some might consider it efficient to manage both under a single platform, the nuanced complexities and regulatory demands of today’s business world argue for a more specialized approach. Read more on our latest blog post 👉 https://hubs.li/Q02mY0cN0 #tprm #erm #riskmanagement

Public companies operate in a global, highly regulated, always changing, and volatile environment. However, the Three Lines of Defense Model has been used for over 20 years and is considered the risk management framework standard. Learn more: https://okt.to/uwrED9 #publiccompanies #riskmanagement #soxcompliance