Risk Management

...health of a corporation. As a result, corporate executives are increasingly expecting a project management-style approach from their in-house legal departments when it comes to their oversight of the litigation portfolio. At LexisNexis, we are now seeing a surge of interest among corporations interested in putting processes in place to gain greater control and insight early and throughout the litigation process. ...

...first general area of technology is enterprise search, where many enterprise's knowledge or records management teams have implemented or are in the process of evaluating enterprise search applications to help their employees find the right information quickly. ...

... Fodera: I am an audit partner in the Internal Audit and Risk Management group of Eisner LLP. We help companies assess the effectiveness and efficiency of related organizational practices and core business operations. ...

...ERM analysis into the credit-rating process for nonfinancial companies.1 While senior management and boards of directors are generally aware of ERM, implementation of holistic risk-management processes has been tepid and uneven. ...

...that's broken, such as lack of processes or procedures in place to best facilitate a good contract management flow? Perhaps part of the solution is to better streamline contract creation by using a technology that can help with contract generation. ...

...observing may have been festering for a long time. Editor: What accounts for the fact that upper management is indifferent to reports of wrongdoing on the hotline while a much higher percentage of co-workers are reporting wrongdoing by this means? Hedley: ...

... The administration should work with Congress to update the Federal Information Security Management Act of 2002 (FISMA) to hold department and agency officials responsible for cybersecurity and secure systems. ...

...has developed certain best practice recommendations on how to build strong infrastructures and risk management practices and controls for non public investments, such as private equity and hedge funds. ...

...of agency decision making in its oversight of clinical trial safety and data integrity, the management of internal disagreements regarding product approval, and agency interactions with outside stakeholders during the review process. ...

...duties include conducting, supervising, and coordinating audits and investigations of the purchase, management, and sale of assets under TARP. SIGTARP's mission is to advance economic stability "through transparency, through coordinated oversight, and through robust enforcement against those, whether inside or outside of government, who waste, steal or abuse TARP funds."1 SIGTARP's $50 million budget was recently increased to $65 million. ...

...additional income on securities portfolios, especially these kinds of positions. Typical investment management agreements authorize the investment managers to engage in securities lending. ...

...committees to determine the right benchmarks, and metrics for measuring and compensating management performance, the current economic crisis has made setting performance criteria particularly difficult this year. ...

...approach, presumably meaning that companies will have to explain its compensation to lower management levels. Disclosure is good under the notion that "sunshine is the best disinfectant" but only to the extent it gives shareholders and other interested parties useful information. ...

...variety of investigations. Recently, many have dealt with compliance by companies and their senior management with accounting and disclosure obligations. The common denominator in most of the investigations has been that they relate to a company's financial reporting to the public, to the government, or both. ...

...This may be because Chinese commercial banks lack experience in business evaluation and risk management in relation to extending M&A loans and they are extremely prudent at the very beginning. ...

...of an appropriate program will require coordination between information technology personnel, management personnel, and then ratification by the Board of Directors. Compliance Deadline And Implementation The August 1 deadline is rapidly approaching, especially for entities in the health care field that may have been unaware of these Rules. ...

... . Editor: Why should companies practice enterprise risk management at all times? What areas do you recommend companies remain constantly vigilant in overseeing? Etzold: ...

...I lead our firm's Fraud & Forensic Services practice. We provide fraud risk management solutions relating to detection, deterrence and investigation of fraud. ...

...summarizes the findings from the study and provides an overview of the strategies, systems and management tools that law departments within U.S. organizations are using to cope with current economic challenges. ...

...provide a private investor with an opportunity to purchase such Eligible Asset Pool with limited risk (other than its loss of committed equity). Private bidders set the price: ...

...The Treasury has not provided any detail clarifying whether a fund sponsor will be able to charge a management and/or incentive fee to any of its limited partners who invest in a dedicated fund to invest in P-PIFs. ...

...this principle raises further questions. Which risks are most significant? Do we consider inherent risk (i.e., without consideration of controls) or residual risk (i.e., taking controls into account). ...

...a comparison on equal ground. For example, a manufacturing company may not see hazardous material management as a high risk because there is an environmental compliance manager at each facility. ...

...They will be subject to oversight to ensure that they have adequate risk management." The declaration indicates that responsibility for implementation of this regulation rests with national authorities rather than any supranational body. The management of risk is a theme that runs through the declaration, which calls for "institutions which have hedge funds as their counterparties [to] have effective risk management. ...

...their principal source of information. We also have a breakout session that deals with Subsidiary Management , another subject of great importance to our members. ...

...provision of the EFCA would facilitate collaborative and speedy bargaining between unions and management, businesses are opposed to government appointed arbitrators (with potentially little to no experience in the employer's industry) mandating the terms and conditions of their workers' employment. ...

...are incorporated into various end-products that are sold to an array of users, prudent risk management principles dictate that the risk of cases being brought under the federal or state False Claims Acts be considered and evaluated. ...

...to companies that have done this successfully. For example, they use web-based matter and document management and e-billing technologies effectively to support that sense of inclusiveness and efficiency. ...

...compliance resources reside in the business and have solid-line reporting relationships to business management. The chief compliance officer generally has little formal authority over these compliance resources. ...

... especially so this year. Editor: Was there any discussion of what can be done to avoid future risk management issues? Stein: At the prior LDN meeting in November 2008, two months into the financial crisis, the LDN members focused on how the current economic and financial crisis arose. ...

... Editor: What approach to compliance risk management creates the greatest risk? Holleran: In our experience, there are two related issues that can increase a company's risk of noncompliance. ...

...but certainly will save a lot of headaches and simplify administration and logistics. Expatriate management is extremely complicated; there are a huge number of moving parts. ...

...The Legal Department is also responsible for risk management, including management of a major insurance program for all the U.S. ...

... Costly Failure To Accurately Determine Employee Eligibility Brown v. Nutrition Management Services Co., No. 06-2034, 2009 U.S. Dist. LEXIS 4199 (E.D.Pa. ...

...other hand, there is no need to hand the keys to the store over to outside providers for all ESI management tasks. It's likely that not all data will require processing; ...

...small to mid-size companies. I also worked for several start ups in network security, information management and email spaces before coming to Recommind. Having experienced the life of a review attorney, I have a great appreciation for the rapid change of pace in the world of e-discovery - both from the process and technology perspective. ...

...that “an orderly transaction would reflect all risks inherent in the asset, including a reasonable risk premium” -- so again that takes it down from my 90 to the 80 or the 75 -- “for bearing uncertainty that would be considered by willing buyers and willing sellers in pricing the asset in a nondistressed transaction at the measurement date.”  So, it effectively restates the way most of us read FAS 157 when it came out in the first place, but the human behavior part and the dislocation of the markets caused kind of a “perfect storm” that allowed Level two to become more sticky then it was ever intended to be. Question: ...

...the current economic crisis. Accounting standards don’t talk back, and so, rather than management saying I made a bad loan, it’s easier to say that the accounting standards don’t let me tell you what’s really happening.  There are obviously some personal dynamics going on around the debate. ...

...or the parallel litigation, in order to keep the business going, because it is imperative that management keep the business going rather than have the investigation or litigation take all attention away from keeping the business moving forward. ...

...receive all the information they need in a way transparent to both the board of directors and management. The general counsel has to have free flow of information to comprehend fully the corporation's business in order to be of maximum help to the board so that they use such information to ask the right questions. ...

...FDA on drug and food safety. These investigations not only identified serious shortcomings in the management and funding for that agency but also laid the groundwork for the legislation that will no doubt pass in this Congress to strengthen those programs. ...

...My own practice grew up in Silicon Valley. As the risk management community grew and evolved in Silicon Valley, I developed significant expertise in the claims and issues that technology companies face and an appreciation of how those companies approach risk management and the history that got them there. ...

...any if you're an independent company looking for insurance that you do have a strong enterprise risk management system? Mulhare: A potential insurer should request the following of the insured: ...

...Eligible buy-side members are eligible if they have at least $1 billion in both assets under management and notional single-name CDS trade exposure and are approved by one-third of the then-current committee of buy-side members (which will initially be composed of the non-dealer ISDA members that actively participated in the ISDA meetings regarding the drafting of the new provisions). ...

...with universities around the world. EMC's Academic Alliance program provides an information management and storage technology curriculum, professor training and support to more than 170 colleges and universities in countries around the world including Australia, Brazil, China, Germany, India, Ireland, Mexico, Russia, Scotland, Thailand and the United States. Editor: ...

...addition to up-to-date office productivity software, for most legal departments an efficient matter management tool is a prerequisite. The next priority to consider should be applications to ensure the organization is complying with its preservation obligations. ...

...worrying about whether scarce legal resources will be allocated to them. At the same time our legal management has predictability about required staffing levels. It allows the lawyers to pursue core issues because they can leave the grunt work to DealBuilder and its NDA counterpart. ...