Authored By: Timothy M. Hanlon, CPA, CISA, CIA, CGFM, CRMA, PMP, MBA, CGMA Short Bio: Timothy Hanlon is a Doctor of Business Administration (DBA) student specializing in Business Intelligence at Marymount University. His research focuses on enhancing fraud detection by integrating financial data and unstructured non-financial data, refining methodologies through the lens of artificial intelligence (more…)
By Paul Faust, Workiva It’s no secret that artificial intelligence is making its way into nearly every industry, ushering in transformative change and disrupting the status quo. Financial management is no exception. When we think about financial management, our images often harken back to the old days, when green eyeshades, pencils and spreadsheets dominated the (more…)
AFERM Q1 2025 Newsletter President’s Article Greetings and Happy New Year to all our AFERM members, sponsors, and those interested in Enterprise Risk Management or supporting AFERM’s mission. As I contemplate my new role as AFERM President, I would be remiss not to thank Jason Bruno for his leadership and service as the 2024 AFERM (more…)
By Vlad Antikarov, Verea Group LLC This is a reprint of the original article, the was initially featured in the March 2022 AFERM newsletter Over the last few years, it has become clear that the federal agencies are and will continue to operate in a more turbulent and unpredictable environment. The COVID pandemic, the internal (more…)
by Daniella Datskovska, Director, Compliance and Legal at Pew Charitable Trust This is a reprint of the original article, the was initially featured in the Sept. 2021 AFERM newsletter The fundamental qualities of a true leader transcend time, circumstance, and organizational culture. Essential attributes inherent in today’s leaders are no different from those needed in (more…)
AFERM Q4 2024 Newsletter President’s Article Greetings and Happy Autumn to all our AFERM members, sponsors, and those who are interested in Enterprise Risk Management or support AFERM’s mission. Over the past year, I have met so many of you that are dedicated to our shared goals. I am humbled by your passion, wisdom, and (more…)
A rising risk awareness Artificial Intelligence (AI) introduces a complex and multidisciplinary set of risk factors that demand new depth, expertise, and leadership from agency risk functions. Recognizing the urgency of these risks, the Office of Management and Budget (OMB) memorandum on Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence (M-24-10) (more…)
By: Joseph Lord, Deloitte & Touche LLP Enterprise Risk Management (ERM) programs commonly rely on an array of spreadsheets, presentations, manual processes, and siloed data to manage their program operations. For many ERM programs, this minimal technology infrastructure has met their start-up needs. However, this approach may not satisfy needs for long. As agencies are (more…)
By Jack Downes & Kevin Schreck Edited by Soumya Chakraverty Introduction In today’s rapidly evolving business environment, the complexity and frequency of risks have increased significantly. Organizations face a wide array of potential threats ranging from cyberattacks and regulatory changes to market volatility and operational disruptions. Traditional risk management approaches often struggle to keep pace (more…)
By Dr. Temika Edwards and Nikki Wood In the world of risk management, “What could go wrong?” is a common question. It serves as a starting point for identifying necessary controls and ensuring organizations meet their objectives. There is no perfect answer to this question, and the approach to obtaining answers may vary. For example, (more…)