CRO series #9 – third-party risk

🌐 In recent years, third-party risks have become more prominent and critical to manage. Why do you think that is? Below are a few factors that I can think of behind its prominence. Can you think of other factors/reasons? Welcome to post #9 of the CRO series! 1️⃣ Complex and Interconnected Business Ecosystems: In today’s
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Role of the internal audit team in ESG

🌍 Did you know that the internal audit team plays a pivotal role in an organization’s Environmental, Social, and Governance (ESG) strategy, oversight, and reporting? Let’s explore some key areas where internal audit adds value: 📊 🔒Policies : Internal audit plays a crucial role in ensuring that organizations have effective ESG risk management strategies in
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🌍 The Impact of Carbon Pricing on Credit Risk

🌍 The Impact of Carbon Pricing on Credit Risk: Insights for Financial Institutions and Regulators 📊💼 A recent study by Oyegunle & al. has interesting findings on the effect of high greenhouse gas (GHG) emissions on the credit risk of companies. The study specifically examines the potential impact of carbon pricing policies on credit risk
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Double materiality for SME’s

🌍📈 As a Quebec-based SME, you may sometimes feel overwhelmed by the complex language of ESG factors. But don’t worry, we are here to simplify this language and make it accessible to everyone. In our second publication of the ESG series for SMEs, we will discuss the concept of double materiality. Welcome! 🌍📈 Double materiality
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CRO series #8 – Model risk management

📢 Chief Risk Officers (CROs) play a crucial role in today’s business landscape, particularly as financial institutions (FIs) increasingly rely on complex models. Model risk management is at the forefront of CROs’ minds. Welcome to post #8 of the CRO series! 🔍 What is a model? A model can be defined as a quantitative method, system, or
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Benefits of adopting ESG for your SME business

🌍📈 As a Quebec SME, do you sometimes feel overwhelmed by the complex language of ESG factors? Follow us to learn more about how environmental, social, and governance factors, commonly referred to as ESG, can help your company open up new business opportunities. Welcome to the first publication of our ESG series for SMEs. Do
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CRO series #7 – Risk Culture

📢 Chief Risk Officers (CROs) play a vital role in today’s business landscape by focusing on building a robust risk culture within their organizations. Welcome to post #7 of the CRO series! ✨ What is Risk Culture?There is no consensus on the definition of Risk culture. However, most definitions agree that risk culture refers to
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What is shadow banking? How is it interconnected to the traditional banking system? And does it pose any risks to the global financial system?

💼 What is Shadow Banking? Shadow banking refers to a diverse range of non-bank financial institutions that might issue money-like instruments and provide credit. These entities operate outside the traditional banking framework, often with limited or no regulatory oversight. Examples include hedge funds, private equity firms, money market funds, pension funds and special purpose entities. 📈
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The CRO series #6 – Managing third-party risk

Chief Risk Officers of banks and financial institutions are currently paying close attention to third-party risk. Welcome to post #6 of the CRO series. In today’s interconnected world, financial institutions face an array of potential vulnerabilities that can arise from their extensive network of partners, vendors, and service providers. Here are some key considerations for managing
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Key insights from the Bank of Canada’s 2023 Financial System Review

My favorite business reading of the year was out yesterday. Here are a few takeaways that I found worth highlighting: 🏘 Household debt ▶ Higher interest rates and declining house prices have reduced financial flexibility for many households, resulting in early signs of financial stress.▶ The share of households affected by higher interest rates will
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