Monthly Archives: October 2013

Archived Posts

2013-10-23 by: James Bone Categories: Risk Management Letter from the Executive Director, October 2013, TheGRCBlueBook

Fenway ParkNew England is ablaze with Fall Foliage in full color and the Red Sox are preparing for their first game of the World Series!  I have to admit that I am both a St. Louis Cardinals and Boston Red Sox fan.  I attended college in Missouri and the Cardinals AAA team play in a beautiful stadium in downtown Springfield, Mo, home of Brad Pitt.  You know…. Angelina Jolie’s husband! 

However, after living in New England for more than 20 years I have finally become a true Bean Town fan.  I can’t lose either way so I will enjoy the first two games in Missouri with my Cardinal buddies and the rest of the series with my Red Sox pals.  Play ball!

The fall season also ushers in a full complement of events and conferences focused on risk management and training that you may find inviting.  TheGRCBlueBook is proud to recognize our dedicated media sponsors who provide discounts for our members, but more importantly, world class education, conferences, and resources to prepare you for what is shaping up to be a very busy 2014.  These programs will help you stay abreast of new regulatory mandates and prepare to meet them with timely best practice and strategic approaches to enhance your program.

Let me introduce our media sponsors and invite you to take advantage of TheGRCBlueBook discounts and these great educational opportunities.  First in our line-up, is the 2nd Annual Enterprise Risk Management conference a CFP Event October 28 – 29, 2013 NYC.   There is still time to make this event!

Batting second is Marcus Evans with two programs:  2nd Annual Conference on Measuring and Managing Operational Risk, November 13 – 15 in London, UK, and the 9th Edition Stress Testing Conference, November 18 – 19 in London, UK.    

Batting third is Retail Deposit Optimization and Strategic Management Conference December 5-6, 2013, New York City.  We also have a new designated big hitter who has joined the club.  Please welcome CLO Summit, December 8-10, 2013, St. Regis, Monarch Beach, Dana Point, CA.  The hotel is sold out so hurry to register for this conference!

And last, but not least!  3rd Edition Model Risk Conference, January 27-29, 2014,  San Francisco, CA!  We hope that you enjoy these program offerings and take advantage of the great discounts offered through TheGRCBlueBook!   

Enjoy the World Series!  Go Cardinals/Red Sox!

2013-10-08 by: James Bone Categories: Risk Management Learning Management Systems – A Missing Link in GRC Vendor platforms?


With all of the talk about Big Data and data analytics you may be surprised to find that one of the fastest growing industries in technology is focused on student through adult education.  Yes, “education” is a hot topic and an even hotter market for eLearning or Learning Management Systems (“LMS”). 

Learning Management Systems is a very large and diverse market that goes by a variety of names and categories:  Corporate Learning Management Systems (CLMS); Learning Content Management Systems (LCMS); Rapid Learning Management Systems (RLMS); Education Learning Management Systems (ELMS); Virtual Classrooms (VC); and, Generic (Off-the-Shelf) eLearning Courseware Vendors.

The market Learning Management Systems is estimated at $200 billion with eLearning systems representing $56 billion and expected to double in size by 2015, according to Global Industry Analysts, Inc.  77% of American corporations are using eLearning systems up from 4% in 1995.  While these growth numbers are impressive it is important to note that the U.S. and Europe represent 70% of the eLearning market with Asia Pacific expected to experience the fastest growth rates exceeding 20% annually. 

Given this huge potential it is surprising that GRC vendors have not leveraged their platform to offer either “off-the-shelf” or modules of customized regulatory and or risk management training.   The market size of Learning Management Systems and rapid growth make synergies between GRC and eLearning a natural fit.  eLearning is not only a significant business opportunity for GRC vendors there is a considerable need in many organizations to leverage systems that integrate risk awareness with tools that allow for risk assessment and analysis. 

The six largest LMS providers represent 50% of the entire market with hundreds of small players continuing to enter.  GRC vendors have the option to partner with or acquire solutions providers to tap a market that is ripe for global growth and creates leverage into new markets within organizations.

More importantly, eLearning systems add value by reducing the cost of training and allows for ease of development and dissemination of new training programs.  Most of the top LMS providers are SCORM “certified” by Advanced Distributed Learning (ADL) for maximum interoperability.  SCORM is a suite of technical standards developed by the Advanced Distributed Learning (ADL) initiative to develop common specifications and standards for technology-based learning deployed over the internet.

These standards enable web-based learning and content management systems to find, import, share, reuse, and export learning content in a consistent manner.  In addition, it allows user tracking and reports to be generated based on learning objectives.

Essentially, SCORM standardized the method of communication between eLearning courses and SCORM conformant learning and content management systems. SCORM currently includes the following ‘elements’: An Application Programming Interface (API) for communicating information about a learner’s interaction with content objects.

In a recent research project using data from TheGRCBlueBook one LMS vendor was compared to cohorts in GRC vendor providers with top players in Learning Management Systems.  The comparisons revealed that there are a few GRC vendors who do provide Learning Management System solutions for corporate customers but the solutions offered are focused on “Ethics, Governance, Board and Code of Conduct” training.  The opportunity to expand LMS training through GRC vendor solutions appears to be significant or a missed opportunity depending on how one looks at the issue.

TheGRCBlueBook has started a new category in the GRC Tools & Reviews called “eLearning Management Systems” that leverages a database created by Don McIntosh, Ph.D., Syracuse University.  Over time this category will be expanded to include hundreds of new vendors.

TheGRCBlueBook mission is to become a global risk and compliance community site and resource portal for sharing best practice across all highly regulated industries.  A one stop source for all things risk and compliance related.

2013-10-07 by: James Bone Categories: Risk Management GFMI interview with Neil Stanley, president Bank Performance Strategies

Neil Stanley, Bank Performance Strategies


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Today, wholesale markets are shrinking and banks are turning to retail deposits to meet their business needs.  The challenges involved in the retail deposit business include persistent on the net interest margin and the approaching deadline for the Basel III liquidity requirements.  It is essential for banks to grow retail deposits to stay profitable and competitive in the future.

Neil Stanley, President, Bank Performance Strategies recently spoke with Global Financial Markets Intelligence (GFMI) about key topics to be discussed at the GFMI Retail Deposit Optimization and Strategic Management Conference, December 5 – 6, 2013, in New York City.

All responses represent the view of Mr. Stanley and not necessarily those of Bank Performance Strategies and its subsidiaries. 

TheGRCBlueBook mission is to become a global risk and compliance community site and resource portal for sharing best practice across all highly regulated industries.  A one stop source for all things risk and compliance related.

2013-10-06 by: James Bone Categories: Risk Management Breaking Barriers to Learn From Past Disasters, by Dr. Allan Bonner, MA, MSc, DBA, LLM, MScPI

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Allan BonnerIf you’re a manager in charge of making your facility safer, you have your hands full.  It’s probably not your only duty.  When you do get to turn your mind to loss prevention, you have countless things you could do. Where to start? 

Most activities have some value, but what you can learn from past disasters is of special value.  There is an authenticity to this learning not offered by modeling, simulations or other means (Barton: 8, Pauchant and Mitroff: 91).  Your bosses and colleagues can hardly argue with what you uncover—it actually happened at least once. 

If you’re in the private sector, you owe it to those who pay your salary to use all possible tools to reduce loss.  Politicians and public sector managers owe constituents and taxpayers their best efforts.  All of us must ‘draw out the maximum amount of information from those lessons and . . . apply it to reduce future suffering’ (Toft and Reynolds: xi  in SCSPO 4: 7). 

TheGRCBlueBook mission is to become a global risk and compliance community site and resource portal for sharing best practice across all highly regulated industries.  A one stop source for all things risk and compliance related.