Hernan Huwyler - Boards in a Digitalized World

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The document discusses tips for boards and organizations undergoing digital transformation initiatives. It recommends that organizations assess scenarios for planning assumptions, interrelationships of risks across projects and third parties, and potential time and cost deviations. Organizations should ensure risk and compliance skills in IT and business teams, and increase retention incentives for key staff. Project managers should regularly report on project advances, performance, feedback, and risks to transformation plans. Boards should monitor controls, provide feedback to align projects with strategy, and suggest improvements.

Business

2021 Global Governance Day
Boards in a digitalized
world
Prof. Hernan Huwyler

The compliance think
tank in the Nordics
and beyond
Certifications Compliance Privacy InfoSec Risk

Post-Covid and cost
saving needs
multiplied digital
transformation
initiatives

eCommerce
eDocument
Cloud platforms
Robotics
Machine learning

Implementation
Budget
IT security
Third-party
Continuity
Risks

Assess the impact of
volatility in the planning
assumptions in the
digitalization projects in
terms of time and costs

Design
Vendor
Data
Dev
Test
Gantt + Failure histograms
Cost
Time
Best
Worst
Most probable
Distribution
Cost or time
Probability
Exceedance curves
Scenario
analysis

Tips
In the digitalization initiatives, assess
• scenarios for planning assumptions
• interrelationships of risks in projects, phases and
third-parties
• time and cost deviations per assumption
• feasibility and reasonability
• capabilities to respond to discontinuation

Ensure risk and
compliance
skills in IT and
business teams

Increase retention
incentives for the
“doers” and
“Michelangelos”

Develop tribes
with agile tools
with stable
objectives

Request third-
parties to early
report risks with
strong contracts

Assess
vulnerabilities
in the input
components

Solidify
changes by
explaining
career risks

Project managers should
report advances,
performance deviations,
feedback and risks of
transformation plans

• Number of impacted users
• Number of available licenses
• Number of migrated processes
• Revenue from new solution
• Changes in productivity
• Usability incidents

Board should provide
feedback, align the
projects to the strategy,
and suggest improvements

Monitor controls in the
cloud environment
changes

@hewyler
/hernanwyler
mydailyexecutive.blogspot.com

Hernan Huwyler - Boards in a Digitalized World

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Compliance risk is the risk of failing to comply with laws, regulations, standards, and guidelines that organizations are subject to. Noncompliance risks can lead to legal, financial, and reputational consequences. Compliance officers play a critical role in identifying, assessing, and managing compliance risks. Compliance risks can also present opportunities for organizations to improve their practices, enhance their reputation, and gain a competitive advantage. ISO 37301 is a standard that provides guidance on compliance management systems. The standard defines compliance risk as the risk of noncompliance with laws, regulations, and other requirements that an organization is obligated to comply with. Compliance risks can arise from internal and external factors, such as changes in laws and regulations, new business operations, third-party relationships, and cultural differences. ISO 37301 emphasizes the importance of managing compliance risks through a systematic and proactive approach that includes risk assessment, risk treatment, monitoring, and review. Compliance officers serve as trusted advisors to senior management and provide guidance and support in compliance planning and decision-making. Compliance officers need to have a deep understanding of the organization's operations, risks, and culture to identify and manage compliance risks effectively. Compliance officers should also have strong communication and interpersonal skills to build relationships with stakeholders, including senior management, employees, regulators, and other external parties. The level of compliance risk varies depending on the nature, complexity, and scale of an organization's operations. Compliance risks can be classified into three levels: low, medium, and high. Low-risk compliance activities are routine and have little impact on the organization's operations or reputation. Medium-risk compliance activities are more complex and involve higher stakes, such as regulatory compliance, data privacy, and anti-corruption. High-risk compliance activities involve significant legal, financial, and reputational consequences, such as anti-money laundering, anti-bribery, and sanctions compliance. Compliance risks can also present opportunities for organizations to improve their practices, enhance their reputation, and gain a competitive advantage. For example, a company that implements strong data privacy practices can enhance customer trust and loyalty. A company that complies with anti-corruption laws can reduce legal and reputational risks and attract socially responsible investors. Compliance officers should work with senior management to identify and leverage compliance risks as opportunities to create value for the organization. Compliance risk, noncompliance, ISO 37301, compliance officer, trusted advisor, risk level, opportunities, regulatory risks, obligations, ethical risks, inherent risks, residual risks, risk-taking, tolerance, control level, sustainability

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Compliance and the russian invasion - Prof Hernan Huwyler

Hernan Huwyler, MBA CPA

Support Ukraine from compliance 🇺🇦 Join our free special webinar to get practical tips on how to - adjust due diligence to address new global sanctions, export controls, and trade restrictions - identify third parties, beneficial owners, shell companies, and assets related to Russia and Belarus - activate exit plans and force major clauses - address changes in the expectations of stakeholders to cancel operations, payments, financing, investing, and partnerships - apply measures to support affected employees and the Ukrainian people - prepare for possible Russian cyber and commercial attacks 👉 Enroll the webinar for free https://lnkd.in/gJR27Dci #compliance #export #russianthreat #ukraine #complianceofficer #riskmanagement #sanctions #UkrainiansWillResist #business #investment #corporateresponsibility #businessethics #HR #people #investing #payments #payments #cyber #webinar

DPO Day Conference - Minimizing Privacy Risks

Hernan Huwyler, MBA CPA

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Hernan Huwyler, MBA CPA

Course on sustainability risk management  for the Master in Sustainability and Corporate Social Responsibility Leadership at the Universidad Complutense de Madrid. I will provide the students with tips, tools, and models to assess and manage operational, compliance, integrity, governance, solvency, profitability environmental, climate change, and supply chain risks as part of a sustainability and social responsibility program.

Cyber Laundering and the AML Directives

Hernan Huwyler, MBA CPA

Respond to new ALM obligations Identify the key compliance changes for scope, subjects and operations Facilitate the design and execution of compliance checks on payment methods and the use of virtual currencies Evaluate gaps in processes to update controls and procedures Consider the impact on corporate criminal liability using the new ISOs 37301 and 37002 Register virtual asset service providers Assess new compliance and operational risks Identify scenarios of risks and vulnerabilities on new crime typologies Prevent risks of anonymous transfers and the use of prepaid cards Manage risks on high value operations and art trade Integrate risks to know your customer and money laundering Detect and report suspected operations Compare control practices regarding new requirements Update the decision matrices on alerts Adjust customer due diligence process Implement the use of the lists of politically exposed persons Report discrepancies with the public register of effective owners Implementation of new technologies Evaluate the prerequisites regarding quality of data and capabilities for compliance solutions Evaluate solutions to automate and digitize processes related to robotics Use machine learning applications for reporting suspicious transactions Recommend practices for implementing analytics solutions on text and data

Hernan Huwyler - Iberoamerican Compliance Conference UCM Congreso Iberoameric...

Hernan Huwyler, MBA CPA

I am invited to speak at the Iberoamerican Compliance Conference hosted by the Universidad Complutense de Madrid (Argentina + web, Jun 29/Jun 1, Spanish). I will deliver a master class on quantitative vs. qualitative assessments of compliance risks. It will be exciting to meet great compliance colleagues and friends as Zulma Escalante, Eduardo Navarro Villaverde, Javier Puyol Montero, Silvina Bacigalupo, Daiana C., Carlos J. Díaz Navarrete, Félix Pablo Crous, Lic. Graciela Garay, Macarena Retamosa, Miguel Soler Ruiz-Boada, Nieves Cifuentes Valero, Sebastian Daniel Barletta, virginia olivieri and other fellows.  https://lnkd.in/e_qfztj Register https://lnkd.in/e-iAMgM #compliance #riskmanagement #ECI2021 #ECIArgentina2021 #UCM

ARENA - Prof Hernan Huwyler - Debate Is Machine Learning Mature Enough?

Hernan Huwyler, MBA CPA

I am excited to discuss how organizations need to be prepared before implementing machine learning with Jason Maude at the Machine Learning in Financial Services event hosted by Arena International Events Group (June 30, online). We will provide recommendations to develop the conditions to successfully implement artificial intelligence projects. Thanks to Rebecca Mayoh for the event coordination. Join here https://lnkd.in/ec6qP4A #machinelearning #compliance

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IE Curso ISO 37301 Aseguramiento de Controles de Cumplimiento

Hernan Huwyler, MBA CPA

Learn how to design, implement. operate and certify a compliance program under the new ISO 37301. Join the IE Law School professors, Alvaro Arjona l Ph.D, Jesica Hita Ruiz, Fabio G. Pérez-Bryan and me, to get a toolbox with facilitators, guidance, reference policies, checklist and other practical references. 8 modules - 12 hours - Sept 27th and 28th - Online - Requirements, terms scope, elements and certification and consultancy market - Practical impact. main changes, benchmark, and introduced components - Adequacy for criminal law compliance in Spain (UNE 19601) and in LatAm - Processes from risk analysis to reporting and evaluation - Implementation of requirements - Recommendations and facilitators for implementation. - Roadmap with evidence to certify - Documentation review program for implementation assurance - Methodology for testing compliance controls and documentation reviews Thanks to Sibel Abdulovska, Paula Abascal Gutierrez-Colomer and Maria Serrano for the flawless coordination of the course. Lean more: https://lnkd.in/gezyzmgn #ISO37301 #CCO #compliance #audit #certification #ISO37002

IDA DTU RiskLab How to validate your risk data

Hernan Huwyler, MBA CPA

"Our risk models cannot be better than the data. We, risk managers, love building models, however, we find validating data boring...as boring as wiping our , but as necessary as wiping our " I enjoyed discussing practicalities for ensuring data quality with 50 risk managers in an event hosted by Josef Oehmen, DTU - Technical University of Denmark RiskLab and Universiteit Twente. Smart questions from the participants on the rollout of data-driven techniques and the ethical considerations in using machine learning for decision-making. #data #datamanagement #quality #riskmanagement

Hernan Huwyler MetricStream German Law idw ps 340

Hernan Huwyler, MBA CPA

I will be providing practical tips to comply with the new German audit standard on risk management with MetricStream. Mike Hyler, Samir Thakkar, and I will address the new IDW PS 340 n.F requirements for an early risk detection system. Join us here on Sep 29th https://lnkd.in/eEJEQhUW I will be providing practical tips to comply with the new German audit standard on risk management with MetricStream. Mike Hyler, Samir Thakkar, and I will address the new IDW PS 340 n.F requirements for an early risk detection system. #RiskManagement #IDWPS340 #PS340 #auditing #risk #audit #germany #compliance

UCM Prof. Hernan Huwyler - Argentina Gesión de Riesgos de cumplimiento

Hernan Huwyler, MBA CPA

Master Class Compliance as a Service Hernan Huwyler

Hernan Huwyler, MBA CPA

Compliance as a Service: Ideas to add value to clients from the compliance function The IE Compliance Program will allow you to develop models to offer new services to clients. These ideas for selling the compliance function externally are much needed to sustain profitability for organizations during the COVID-19 crisis. Historically, the compliance function has sought to save costs by avoiding fines and penalties. However, being able to assume obligations on customer compliance allows compliance to go from a cost center to profit. Compliance can be a powerful sales tool to obtain a differential and a premium in the prices of the services offered. During this open class we will discuss models to offer: - Quality assurance services for products and services provided by clients - Outsourcing of external compliance obligations - Monitoring and visibility of the activity of sub-contractors to clients - Reports of compliance with controls and requirements- Reduction of costs of audits that clients carry out as on data processors

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1. 2021 Global Governance Day Boards in a digitalized world Prof. Hernan Huwyler

2. The compliance think tank in the Nordics and beyond Certifications Compliance Privacy InfoSec Risk

3. Post-Covid and cost saving needs multiplied digital transformation initiatives

4. eCommerce eDocument Cloud platforms Robotics Machine learning

5. Implementation Budget IT security Third-party Continuity Risks

6. Assess the impact of volatility in the planning assumptions in the digitalization projects in terms of time and costs

7. Design Vendor Data Dev Test Gantt + Failure histograms Cost Time Best Worst Most probable Distribution Cost or time Probability Exceedance curves Scenario analysis

8. Tips In the digitalization initiatives, assess • scenarios for planning assumptions • interrelationships of risks in projects, phases and third-parties • time and cost deviations per assumption • feasibility and reasonability • capabilities to respond to discontinuation

9. Ensure risk and compliance skills in IT and business teams

10. Increase retention incentives for the “doers” and “Michelangelos”

11. Develop tribes with agile tools with stable objectives

12. Request third- parties to early report risks with strong contracts

13. Assess vulnerabilities in the input components

14. Solidify changes by explaining career risks

15. What board members should measure

16. Project managers should report advances, performance deviations, feedback and risks of transformation plans

17. • Number of impacted users • Number of available licenses • Number of migrated processes • Revenue from new solution • Changes in productivity • Usability incidents

18. Board should provide feedback, align the projects to the strategy, and suggest improvements

19. Monitor controls in the cloud environment changes

20. @hewyler /hernanwyler mydailyexecutive.blogspot.com

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