Whitepapers

The Risk & Compliance Platform Europe offers a qualitative online database with white papers, case studies and best practice articles on risk and compliance. This free information is used by many professionals to inform and orient a possible purchase or policy decision.

Do you want to publish your white paper / case study / best practice article on the Risk and Compliance Platform Europe? Simply send an email to info@riskcompliance.nl including your contact details and a brief summary of your proposed article. Our editorial staff will contact you as soon as possible to discuss the options for publishing your document / article.

Visitors to the Risk & Compliance Platform Europe can download any white paper / case study / best practice article for free. This service is intended for those with a professional interest in risk and / or compliance.

Whitepaper

Neo4j

Effective Internal Risk Models Require a New Technology Foundation

07 October 2020

Fundamental Review of the Trading Book (FRTB) regulations are part of the upcoming Basel IV set of reforms and create specific capital-reserve requirements for bank trading desks based on investment-risk models. The new regulations require banks to reserve sufficient capital to maintain solvency through market downturns and avoid the need for governmental bailouts. Banks are using FRTB mandates as an opportunity to build a firm foundation for future risk management and compliance applications that lowers development and staffing expenses, optimises reserve ratios, maximises available capital and drives investment profits. Relational database technology is not the best when it comes to banking and risk modelling and finding the right foundation for building compliance solutions is key. Neo4j answers the demands of Fundamental Review of the Trading Book (FRTB) regulations while building a foundation for future investment and risk compliance applications. Discover what it takes to create effective internal risk models and how to track investment data lineage using a graph database like Neo4j.

Visitors to the Risk & Compliance Platform Europe can download this white paper for free. This document is intended for those with a professional interest in risk and / or compliance.

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Whitepaper

IIA

Risk in Focus 2021: Covid-19 changes the risk profile of the organisation

24 September 2020

Let it be known, Covid-19 has serious consequences for the risk profiles of many organisations and therefore also for the audit plans for 2021. It is therefore not surprising that “Disasters and Crisis responses” has entered new and high in the top 10 hot topics for internal audit. This list of hot topics is included annually in IIA’s Risk in Focus report. Every year, the European Institutes of Internal Auditors join forces to assess the risks Chief Audit Executives foresee for the following calendar year. As the results of the report reveal, for the third year in a row, cybersecurity risks remain at the top. Macroeconomic and geopolitical risks were up 29 percent from last year. The importance of resilience and adaptability is clear from the report. The results of the report are also very valuable for organisations that have to prepare the audit plans for 2021 and it provides a good overview of the challenges ahead in the coming year. As a visitor to the Risk & Compliance Platform Europe, you can download the new Risk in Focus report for free.

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Whitepaper

Efficient Frontiers

Simplifying the Customer Journey – Little changes, BIG impact

01 July 2020

Complexity, often associated with tax compliance, can touch multiple parts of the organisation creating several challenges. On one hand, there is a high financial and reputational risk associated with getting the tax compliance wrong. On the other hand, the volume and complexity of customer data that has to be processed is becoming an increasingly time-consuming challenge. Customer relationships can be won and lost based on their experiences with completion of important tax documentation.

This paper focuses on a recent case study that outlines how, using a winning combination of  EFI’s tax and technology expertise, a solution was developed for a client that streamlined their IRS W-Series Tax form process whilst achieving compliance.

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Whitepaper

 

Neo4j Privacy Shield Turn Privacy Regulations into Opportunity

15 April 2020

General Data Protection Requirements (GDPR) is the European Union regulation governing how EU residents’ personal data can be stored and managed. All companies, wherever they are based, must tightly understand, control and manage their possession of European personal data, or face prosecution and heavy fines. According to PwC, 92 percent of multinationals view GDPR compliance as a top priority. Of those companies, more than three-quarters have allocated over a million dollars for compliance efforts, and nearly ten percent plan to spend more than ten million dollars each. To reap high returns from your GDPR investment, look beyond compliance issues. Instead, pursue a well designed privacy and cybersecurity strategy for the personal information you manage across your enterprise.

Discover Neo4j’s Privacy Shield comprehensive solution for EU’s GDPR regulation. Neo4j Privacy Shield helps individuals visualize their private data and control its use while internal staff members provide fast answers to privacy inquiries. It also enables privacy managers to trace data flows, investigate potential breaches, and prove compliance to regulators. Without graph technology, it’s almost impossible to understand the full lifecycle of personal data. The visualization, data lineage, connected data analysis and pattern detection tools in Neo4j Privacy Shield make it a uniquely powerful solution.

Visitors to the Risk & Compliance Platform Europe can download this whitepaper for free. This document is intended for those with a professional interest in risk and / or compliance.

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Whitepaper

IIA

Risk in Focus 2020 Report

17 December 2019

European Confederation of Institutes of Internal Auditing’s report on Risk to Focus 2020 has sought for years to provide some insight on vital risks of business that were defined by several Chief Audit Executives (CAEs) across Europe. The latest version of the report has been developed as a result of the progressive partnership between eight European institutes consisting of internal auditors and utilizes qualitative interviews conducted with 46 CAEs in Belgium, Netherlands, France, Germany, Italy and more working in various industries.

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Whitepaper

neo4j

The Connected Data Revolution in Financial Risk Reporting

24 October 2019

As governmental regulations tighten, today’s banks must have a thorough and systematic understanding of risk calculations and their associated data lineage—including where underlying data originates and how it flows through enterprise systems. This paper discusses how connected data and graph database technologies are a new way of transforming risk reporting in modern banks to help them meet the stringent demands of risk reporting compliance. Where data governance is key and needs to be addressed, a modern graph approach has proven to be more reliable for risk management than a traditional solution.

At the same time, those forward-looking banks are uniting data silos into an information foundation for building innovative applications. These solutions provide extreme visibility, transparency and deep analytical insights that improve compliance efforts and day-to-day decision making in a more simple and effective way.

Visitors to the Risk & Compliance Platform Europe can download this whitepaper for free. This document is intended for those with a professional interest in risk and / or compliance.

Whitepaper

LexisNexis

Fifth Anti-Money Laundering Directive (5AMLD)

09 December 2018

Almost 70 percent of money laundering and terrorist financing flows through legitimate financial institutions. Yet the United Nations Office on Drugs and Crime estimates that less than 1 percent of the global trade is seized and frozen.

The main changes, among others, in 5AMLD are as follows : • Extended scope of obliged entities : virtual currencies and pre-paid instruments. • Wider access to beneficial ownership information. • Customer due diligence: with a risk-based approach, obliged entities, must “right-size” their customer due diligence based on the level of risk.

Whitepaper

Lexis Nexis

The Risk Monitoring Imperative

04 October 2017

Organisations today face an evolving array of risks – and corporate boards and executive leaders are feeling the pressure. According to a global survey of board members and C-suite executives, “The impact of the U.K. Brexit vote, increased volatility in commodity markets, polarisation surrounding the recent U.S. presidential election, terrorist events, asset bubbles in China, continued discussion about fair wages and income equality, and ongoing instability in the Middle East” has resulted in elevated concerns about business risk in 2018. Moreover, companies increasingly rely on third parties to conduct business – from complex, globallydistributed supply chains to extensive networks of clients, partners, or agents working on their behalf. How vast are these networks?

– 40% of companies oversee 1,000 third parties annually – 29% manage more than 5,000 third-party relationships

And those numbers don’t include customers. As a result, companies need a risk mitigation strategy that goes beyond traditional due diligence for on-boarding suppliers and third parties. The 2017 Anti-Bribery & Corruption Benchmarking Report, issued jointly by Kroll® and Ethisphere®, found that “More than half (55 percent) of respondents report that they identified legal, ethical, or compliance issues with a third party after due diligence had been conducted.” Ongoing monitoring can help you build a more complete picture of risk exposure—and proactively mitigate risk.

Whitepaper

IIA institute internal audit

Hot topics for internal audit 2018

24 September 2017

This year, a wider group of European Institutes of Internal Auditors have taken a more ambitious approach, interviewing Chief Audit Executives (CAEs) from major organisations in six European countries – France, Italy, the Netherlands, Spain, Switzerland and the UK – to home in on key themes requiring the attention of internal audit to mitigate risk and protect and add value in their organisations.

These Hot Topics were identified through in-depth, qualitative interviews with CAEs across a diverse range of critically important sectors – construction/infrastructure, financial services, IT, manufacturing, public sector, retail/consumer, telecoms and utilities/energy – and from organisations that truly lead these industries. To put this into perspective, these organisations have an aggregate market capitalisation in excess of €724bn, revenues of over €441bn, employ more than 1.86 million staff and are present in no less than 173 countries. In the financial services sector alone, the CAEs represent internal audit functions in firms collectively worth €325bn and turning over upwards of €207bn.

This whitepaper provides knowledge and insights as an invaluable snapshot of the thinking of leading internal audit professionals across Europe.

Whitepaper

 

The European Union fourth Anti-Money Laundering Directive

03 July 2017

When the 4AMLD was enacted on June 25, 2015, the European Commission established a 2-year window for implementation by EU Member States. A 2016 amendment to the Directive identified additional “obliged entities” and shortened the implementation deadline by six months.

EU Member States are now transposing it into their national laws and all “obliged entities” must have compliance programmes in place to mitigate risk. Věra Jourová, the EU’s commissioner for Justice, Consumers and Gender Equality said: “The update of the Fourth Anti-Money Laundering Directive will prevent any loopholes in Europe for terrorists, criminals or anyone trying to play with taxation rules to finance their activities. ”

A Deeper Look at the 4AMLD : Naturally, the 4AMLD focuses on traditional financial services organisations such as credit and financial institutions, but the list of “obliged entities” from the original Directive also includes other professionals.