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Home   Membership   Education   Events   Resources   External Affairs      March 20, 2014

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Managing bribery risk as the FCPA bares its teeth
By Lucy Wallwork
The oil and gas industry has a reputation as an environment where bribery has too often been the norm, but the U.S. government is starting to crack down. In the first few months of 2014, the SEC has already brought as many enforcement actions under the Foreign and Corrupt Practices Act, or FCPA, as through all of 2013. These enforcements span a range of business sectors, but there are a number of reasons why the global oil and gas sector is specifically exposed to bribery risk. High-level management will need a clear strategy for dealing with it, before the investigators knock at their door.
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4 tips for creating a disaster recovery plan for a small business
Mother Nature Network
Fires, floods, snowstorms, theft and data loss are just a few of the ever-present threats small business owners face. Like any other aspect of running a business, the key to survival is preparation. "Small businesses are vulnerable to failure when they're impacted by significant events," said Ken Katz, property risk control director at Travelers Insurance. "You'll need to recover in a timely fashion, because your fixed costs continue even when you can't open your doors. If you don't plan it through [before it happens], you'll have to do it on the fly and make decisions when you're stressed."
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Managing risk without stifling innovation
Bloomberg Businessweek
Risk management has become a key function in almost every large company, but all too frequently it makes an organization so risk-averse that initiative and innovation become paralyzed. A central part of the problem is that risk managers, mainly reporting to the chief executive officer, tend to see their role as one that's apart from other employees — as some sort of überguardian of the organization. This is a mistake.
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Avoiding a digital catastrophe: Considerations for managing social media risks
The National Law Review
Social media have revolutionized how financial institutions interact with customers and the public. Facebook, Twitter, Google+, LinkedIn, Flickr, YouTube, Yelp and other social media sites permit institutions to market products and services, provide incentives, facilitate new account applications, invite performance feedback, recruit employees, and receive and respond to complaints in new and effective ways. The benefits of leveraging social media are enormous, but not without corresponding risks.
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Major plane buyer sees Boeing, Airbus supply chain risk
Boeing Co and Airbus are risking over-stressing the fragile aerospace supply chain as they ramp up plane production to unprecedented levels to meet strong demand, one of the world's most influential plane buyers recently said. Steven Udvar-Hazy, chief executive of Air Lease Corp, one of the world's biggest aircraft lessors, is also urging the two plane makers to build new jets to fill the gap between larger twin-aisle aircraft and smaller narrow-bodied planes. Udvar-Hazy said the pressure of production acceleration could cause problems at the lower end of the complex aircraft supply chain.
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How 'March Madness' can up your business continuity game
Tracy Hein writes, "Basketball and business continuity are in my blood. When it comes to hoops, I played in college, I love watching the game, and I am raising the next generation of players. As for business continuity, well, it's my main focus five days out of seven (and sometimes more). So perhaps it's not surprising that when my eyes are on the court, my mind is making connections to a business continuity and disaster recovery playbook. One of the biggest correlations I see is in the area of situational awareness."
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Cat bond investor demand continues to offset secondary seasonality
Strong demand from investors for catastrophe bond notes in the secondary market continued to have an offsetting effect on seasonal price movements in February, as issuance still fails to satisfy excess investor appetite for the asset class. Seasonality, the movement of outstanding catastrophe bond prices according to the risk posed by seasonal perils, is something that has been muted over much of the last year. Investor demand for allocating capital to cat bonds has been so high that outstanding cat bond prices have become inflated, offsetting the effects of seasonality to a degree.
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  ACL GRC: Governance, Risk, Compliance Simplified
GRC doesn’t have to be clunky or spreadsheet-intensive. ACL GRC offers a fresh way to help you improve the efficiency and effectiveness of GRC activities. Our cloud-based solution is simple, flexible, cost-effective and suitable for nearly any organization. Watch a quick demo video!

PwC: Risk management remains an issue for businesses
Internal business changes intended to address dynamic market shifts have created a more complex risk landscape for businesses around the globe, according to a PricewaterhouseCooper survey.

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Dynamic factor modeling reveals hidden risks
Portfolio and risk managers tend to agree that investment returns are the rewards for taking justified risk, but they often differ in their definitions of that risk and the best ways to measure it.

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Beware offering FMLA instead of workers' comp
Business Management Daily
Some Texas employers try to discourage employees from taking workers' compensation leave when they suffer an injury. Instead, they encourage employees to use FMLA and accrued vacation and other leave.

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The 3 rules of recycling electronics waste
Nasty data breaches. Environmental degradation. Scandal. Imagine walking into your boss's office and having to explain why your customers' data ended up in the wrong hands because you made a bad choice in getting rid of your computers. Picture the look on your CEO's face when a pile of used electronics that came from your stores somehow ended up in an unregulated waste dump and is being disassembled and melted down by children. Sounds scary and maybe a bit beyond the realm of possibility, but these are real scenarios that can happen more easily than you can imagine.
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EEOC's latest moves: New religious guidance, info on background checks
HR Morning
Religious discrimination complaints have doubled since 1997. So perhaps it's no surprise that the EEOC has released new guidance on employers' responsibilities when it comes to employees' religious rights and responsibilities. As you know, companies are required to make exceptions to their usual policies to permit applicants and employees to follow religiously-mandated dress and grooming practices (as long as it doesn't cause an undue hardship). The new guidance doesn't change any laws or alter employer's requirements. What it does do, however, is answer 16 common questions from employers about staffers' religious garb and grooming.
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6 risk assessment questions you need to ask before taking your business online
Launching an online business, or taking an existing business online, requires a new set of skills for anyone who is used to a more traditional bricks-and-mortar retail environment. There are new ways to market, new ways to deliver your product – and new ways to ensure you don't become the victim of thieves or fraudsters. Whether you are an experienced online retailer or a relative novice, these are the questions you need to ask and answer to protect yourself from online fraud that could result in product loss or chargebacks.
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Missed last week's issue? See which articles your colleagues read most.

    Disaster mystery rewriting rules on crisis management (Australian Broadcasting Corporation)
Your job taught to machines puts half US work at risk (Bloomberg Businessweek)
Businesses need federal terrorism risk insurance reauthorized (Richmond Times-Dispatch)
Poor Illinois: Lousy credit — and now a 'reputation risk premium' (Crain's Chicago Business)

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Colby Horton, Vice President of Publishing, 469.420.2601
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Lisa Smith, Senior Content Editor, 469.420.2644 
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