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  • Blog
    Fewer Oil Companies Are on the Edge of Bankruptcy — Is This Really Good News?
    In this Industry Perspective series, we offer the views of Protiviti leaders on developments and news in specific industries. The perspective below focuses on Energy & Utilities. A recent update from Debtwire states that 135 oil companies headed for bankruptcy is good news compared to the 180 companies that were on the Debtwire list in January. According to the article, oil prices have…
  • Blog
    Four U.S. Regulatory Agencies Issue CECL FAQs – Here Is the Summary
    Four U.S. regulatory agencies – the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) – have issued a set of frequently asked questions (FAQs) in an effort to assist banks and other financial institutions with the implementation process…
  • Blog
    2016 Was an Eventful Year – This Is How We Covered It
    As 2016 comes to a close, I want to look back on the events that made this year unique in ways both rewarding and challenging – and summarize the topics Protiviti professionals discussed, and our readers engaged with, here on The Protiviti View. Perhaps the most seminal events of 2016 with the biggest implications were Brexit and the election of Donald Trump as president. The Brexit was brought…
  • Blog
    Compliance Insights Latest: Regulator Warns on Sales Incentives, New York Fed on Ethics, and More
    Culture and ethics are important in financial services; this much has always been clear to anyone working in the industry. Consumers and businesses alike place a great deal of trust in the system, and continue to hold it in high regard even in light of recent scandals and events that have highlighted certain questionable practices, testing this trust. But culture and ethics are much more than…
  • Blog
    2017 Perceived as Riskier by Top Executives, Survey Results Say
    Political and economic instability, cyberattacks and disruptive change have global executives and board members on high alert for the year ahead, according to research from Protiviti and North Carolina State University’s ERM Initiative. The report, Executive Perspectives on Top Risks for 2017, and an executive summary are available for download on the Protiviti website. Concerns about…
  • Blog
    IT Innovation: Does Your IT Budget Have Room for It?
    One of the budget struggles chief information officers are continually faced with is reducing operating costs to make room for innovation. And while several studies, including our own, show that they have succeeded in bringing down “lights on” expenditures over the past decade or so, in many cases those savings have been absorbed by urgent non-strategic needs, such as compliance and security, too…
  • Blog
    Managing Your Organization’s Culture During Rapid Growth
    Early in December 2016, I had the pleasure of leading an in-depth webinar exploring how fast-growing companies can prepare for challenges related to changes in their culture and talent requirements, particularly when ramping up for an IPO or following one. I was joined by Carmela Krantz, Vice President of Human Resource at WideOrbit; Danielle Soucek, Director of Insight Product at Equilar; and…
  • Blog
    Considerations for SOC 2 Readiness
    As more organizations trade in-house IT applications, systems and related processes for third-party services to enhance capabilities, simplify operations and lower costs, it is critical to demonstrate that data and systems are well-controlled, regardless of where the data resides. While the COSO Internal Control – Integrated Framework clearly states that management is responsible for the design…
  • Blog
    IT Innovation, Part 2: Maximizing the Value of Security Investments
    As my colleague Ed Page indicated in his January 11 post, digital transformation represents one of the biggest innovation opportunities of the 21st century, and failure to respond quickly to innovation opportunities is one of the biggest risks faced by any business today. A recent Protiviti white paper, Catching the Digital Wave of Change, points out that no industry is isolated from the…
  • Blog
    Bank Charters for Fintech Companies Top January Compliance News
    In December 2016, the Office of the Comptroller of the Currency (OCC), which oversees many of the largest banks in the country, released its plans to consider granting special-purpose national bank charters to a broad range of financial technology (fintech) companies, who are engaged in providing technology-driven financial products and services to consumers and small businesses. The idea is not…
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