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Click here to access subscription content at The RTJ Bridge - The Premium Version of The RiskTech Journal 〰️
The RiskTech Journal
The RiskTech Journal is your premier source for insights on cutting-edge risk management technologies. We deliver expert analysis, industry trends, and practical solutions to help professionals stay ahead in an ever-changing risk landscape. Join us to explore the innovations shaping the future of risk management.
The AI Wild West is Over — Why IRM Must Now Govern the Frontier
When John A. Wheeler and Avivah Litan collaborated as colleagues at Gartner, they shared a simple but powerful conviction: technology without governance invites risk, and risk without context invites disaster. That belief feels more urgent than ever in the age of generative AI.
This month, Avivah returned to the spotlight with a compelling Gartner webinar titled “A Partner Framework to Manage AI Governance, Trust, Risk and Security.” It laid out a comprehensive vision for AI Trust, Risk, and Security Management (AI TRiSM), exposing the vulnerabilities of current AI adoption strategies and presenting a future where organizations no longer treat AI oversight as optional.
But here’s the problem: most companies are still stuck in a fractured model of Governance, Risk, and Compliance (GRC). And the rise of autonomous, agentic AI systems is about to make that dysfunction terminal.
Integrated Risk Management in Healthcare: Managing AI's Rapid Evolution with a Responsible Approach
This article explores the need for a holistic risk management framework to address the evolving AI use cases in healthcare. As part of our 2025 Integrated Risk Roadmap, we emphasize the critical role of IRM in ensuring that AI-driven innovations align with ethical standards, regulatory expectations, and patient trust.
The Implications of DORA Starting Today: Opportunities for Integrated Risk Management to Drive Resilience
Today, January 17, 2025, marks a turning point for the European financial sector as the Digital Operational Resilience Act (DORA) officially takes effect. This comprehensive EU regulation introduces a harmonized framework for managing ICT risks, requiring financial institutions and their ICT third-party service providers (TPSPs) to meet stringent requirements for governance, incident reporting, and resilience. This article explores the implications of DORA, highlights the four key objectives of IRM, and provides guidance for financial institutions as they navigate this new regulatory environment. For further insights, visit wheelhouseadvisors.com.
The Evolving Perspective on Generative AI: From Technology Risk to Operational Risk
In financial services, generative AI (GenAI) has rapidly emerged as both a transformative opportunity and a formidable risk. According to a recent ORX survey, three-quarters of financial institutions now classify oversight of GenAI under operational risk. This pivotal shift highlights how GenAI is increasingly perceived as a broader business risk rather than merely a technology-specific challenge. For banks and other financial institutions, this development underscores the necessity of integrated risk management (IRM) frameworks to effectively navigate the complexities of AI adoption.
The Maestro of IRM: Conducting the Masterpiece of Modern Risk Management
In the intricate world of risk management, where every decision plays a crucial part in the overall performance of a business, envisioning the integrated approach of governance, risk, and compliance (GRC) alongside Technology Risk Management (TRM), Operational Risk Management (ORM), and Enterprise Risk Management (ERM) as a symphony orchestra offers a compelling narrative.