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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 Convergence of Sustainability and Digitalization: How AI’s Power Demands Are Driving the Need for IRM
The rapid expansion of artificial intelligence (AI) and data centers is creating unprecedented energy demands, forcing major power providers into strategic partnerships to ensure supply reliability. NRG Energy’s recent announcement of a collaboration with GE Vernova and Kiewit Corp. to build four natural-gas power plants exemplifies a broader trend—one in which sustainability and digital transformation are increasingly intertwined. As companies race to secure the power necessary for AI-driven operations, the risks associated with balancing energy infrastructure, environmental commitments, and technological advancement highlight the urgent need for integrated risk management (IRM).
Climate Disclosure Regulations and the Future of Risk Management
The global regulatory landscape for climate-related disclosures is rapidly evolving, creating business opportunities and challenges. As companies navigate shifting mandates across jurisdictions, the need for a comprehensive and integrated approach to risk management has never been more pressing. Integrated Risk Management (IRM) offers a framework to help organizations proactively manage compliance, enhance resilience, and align with long-term sustainability goals.
The Myth of Internal Audit Independence: Why It’s Time to Evolve Beyond GRC Thinking
The debate over the true independence of internal audit (IA) has resurfaced with new urgency following the recent high-profile firings of multiple inspectors general (IGs). Government IGs in the United States operate in similar ways to IA in private-sector organizations. Given their similarity, these IG dismissals have sparked controversy within the IA community, with critics arguing they threaten government oversight and accountability. The situation underscores a long-standing issue: IA and IGs are not truly independent, and continuing to believe otherwise does more harm than good.
What the Public Sector Can Learn from the Private Sector’s Embrace of Integrated Risk Management
While risk management is not new to government institutions, the public sector lags behind the private sector in adopting a truly integrated approach. The world’s leading corporations have embraced IRM as a critical framework for anticipating threats, enhancing resilience, and driving long-term value creation. It is time for the public sector to take a page from the private sector’s playbook.
How Companies Can Employ AI for Compliance and Risk Management—Safely and Effectively with IRM
To fully realize AI’s potential while mitigating its risks, organizations must adopt an Integrated Risk Management (IRM) approach that provides governance, oversight, and strategic alignment between AI deployment and risk management objectives. IRM ensures that AI-driven compliance processes are not only efficient but also secure, transparent, and adaptable to regulatory changes.
The CISO Storm: Why the Role Must Evolve into the Chief Digital Risk Officer
The Chief Information Security Officer (CISO) is at the center of the storm—a whirlwind of cyber threats, regulatory demands, digital transformation, and fragmented risk management practices. Once a purely technical role, the CISO has been forced into a high-stakes balancing act, trying to secure not just IT infrastructure but the entire digital ecosystem of modern enterprises.
Meanwhile, cyber risk has become the defining business risk of the digital age. Yet, most organizations still treat the CISO as an IT specialist rather than a true enterprise risk leader. The problem isn’t just how CISOs are perceived—it’s that they are stuck in a broken system.
Why CISOs Are Struggling—And How Integrated Risk Management (IRM) Is the Answer
The financial services industry is grappling with an escalating crisis: cybersecurity leaders are overburdened, under-supported, and increasingly at risk—both professionally and personally. The rollout of the European Digital Operational Resilience Act (DORA) and similar regulations has not only forced firms to overhaul their IT supply chains but has also driven nearly 80% of Chief Information Security Officers (CISOs) to report mental health impacts.
Why ERM and GRC Are Failing—And How IRM Can Fix It
The old approach—managing risk in silos with disconnected ERM and GRC teams—is no longer sustainable. Forward-thinking organizations are transitioning to Integrated Risk Management (IRM), a framework that unifies ERM, GRC, Technology Risk Management (TRM), and Operational Risk Management (ORM). IRM aligns risk oversight with business objectives, enabling organizations to proactively anticipate, mitigate, and leverage risk.
Companies that fail to adopt IRM will struggle to keep up with regulatory changes, technological disruptions, and board expectations. The time for IRM is now.
Beyond GRC: Why IRM is the Next Evolution in Risk Management
Governance, Risk, and Compliance (GRC) is no longer enough. The relentless pace of AI-driven cybersecurity threats, regulatory scrutiny, and digital transformation is rendering traditional GRC models obsolete. Organizations that still rely on static compliance checklists and fragmented risk functions are being left behind in an era that demands continuous, autonomous risk management.
The future of risk isn’t just about compliance—it’s about integration. Integrated Risk Management (IRM) is taking GRC to the next level by fusing it with Enterprise Risk Management (ERM), Technology Risk Management (TRM), and Operational Risk Management (ORM). This shift isn’t incremental; it’s a paradigm change that redefines how risk is managed in a hyper-connected world.
Europe’s Climate Pivot: Lessons from Sarbanes-Oxley and the Role of Integrated Risk Management
The European Union (EU) is reassessing its ambitious corporate sustainability regulations, triggering concerns about retreating from climate accountability. But history tells us this isn’t a retreat—it’s an adjustment. Suppose businesses want a playbook for how to respond. In that case, they should look at what happened with Sarbanes-Oxley (SOX) in the U.S. Two decades ago, companies resisted new financial reporting laws, citing high costs and operational complexity. Over time, SOX was refined—but it never disappeared.
The Strategic Evolution of Chief Risk Officers: Catalyzing Integrated Risk Management
Recent insights from the Optimising Growth: The Evolving Role of the Chief Risk Officer report by Bayes Business School and the IRM Navigator™ Buyer Persona Guide by Wheelhouse Advisors underscore the pivotal transformation of Chief Risk Officers (CROs) as strategic enablers within Integrated Risk Management (IRM). These findings highlight the growing importance of IRM frameworks in addressing the complexities of modern risk landscapes and fostering sustainable growth.
A Pivotal Moment for Integrated Risk Management: Lessons from Oracle's GRC Exit
Oracle's announcement to discontinue its Governance, Risk, and Compliance (GRC) solution by May 2025 marks a significant turning point in the Integrated Risk Management (IRM) landscape. This decision underscores the necessity for unified frameworks that encompass all risk domains: Governance, Risk, and Compliance (GRC), Enterprise Risk Management (ERM), Technology Risk Management (TRM), and Operational Risk Management (ORM). As businesses face increasingly complex regulatory environments and interconnected risks, the need for integrated approaches has never been greater.
Autonomous IRM: How AI Agents Are Redefining Risk Management for the Future
AI agents transcend traditional tools, evolving into intelligent systems capable of perceiving, predicting, and proactively responding to risks in a complex, interconnected world. This article explores the transformative potential of AI agents within IRM, including innovations such as dynamic internal controls, the challenges they introduce, and the implications for the future of risk management.
How Integrated Risk Management Will Propel the Board Agenda in 2025
As we step into 2025, corporate boards face an increasingly complex risk landscape characterized by geopolitical shifts, economic uncertainty, technological disruption, and heightened stakeholder expectations. Integrated Risk Management (IRM) is set to play a pivotal role in helping boards navigate these challenges and align risk oversight with strategic priorities. Leveraging insights from recent reports on board and audit committee agendas, this article explores how IRM will shape boardroom discussions and drive value creation.
Evolving Digital Risks: The Case for Integrated Risk Management
The recent settlement agreement between General Motors (GM) and the Federal Trade Commission (FTC) over privacy concerns related to the now-discontinued Smart Driver program underscores the complex and evolving nature of digital risks. While GM has taken significant steps to address the situation, this incident highlights a broader issue: the rollout of new technologies and services without adequate risk assessment and control mechanisms. As organizations innovate, they must simultaneously mitigate the digital risks inherent in connected products. Integrated Risk Management (IRM) can play a vital role in achieving this balance.
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.
Discover Wheelhouse Advisors’ 2025 Integrated Risk Roadmap for Research and Insights
As the world of risk management evolves, Wheelhouse Advisors remains at the forefront of delivering insights, research, and actionable strategies to navigate the complexities of today’s dynamic risk landscape. In 2025, we will focus on four overarching themes corresponding to the key segments of the Integrated Risk Management (IRM) framework: Technology Risk Management (TRM), Operational Risk Management (ORM), Governance, Risk and Compliance (GRC), and Enterprise Risk Management (ERM). These themes will guide our content delivery through the IRM Navigator™ Reports, IRM Vendor Compass™ Ratings, The Risk Wheelhouse podcasts, and articles in The RiskTech Journal.
NIS2 and the Global Risk Landscape: Harnessing Integrated Risk Management to Stay Ahead
The EU’s NIS2 Directive represents a significant evolution in cybersecurity governance, and its ripple effects are set to transform compliance landscapes for companies worldwide. Despite uneven transposition across EU member states, NIS2's broader implications underscore the urgency for proactive risk management strategies. Companies can leverage Integrated Risk Management (IRM) solutions to turn these regulatory challenges into competitive advantages.
Navigating the DORA Deadline: Why Integrated Risk Management is Critical
The clock is ticking for financial institutions and ICT suppliers as the EU’s Digital Operational Resilience Act (DORA) prepares to take effect on January 17, 2025. This ambitious regulatory framework aims to bolster the financial sector's resilience against cyber disruptions, mandating a series of stringent requirements on operational monitoring, incident reporting, and third-party risk management. Yet, the urgency of compliance efforts has uncovered a glaring challenge: organizations without Integrated Risk Management (IRM) systems risk falling short of these critical obligations.