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Provision 29 of the UK Corporate Governance Code has established a new benchmark for risk management and internal control systems. While initially designed for UK-listed companies, its principles offer valuable insights for organizations worldwide. As businesses face increasingly complex risks, the core elements of Provision 29 provide a framework that transcends geographical boundaries. The universal value of robust risk management At its core, Provision 29 requires Boards to implement procedures for managing risk, overseeing internal control frameworks, and determining acceptable risk appetites to achieve strategic objectives. These foundational activities are relevant to any organization, regardless of industry, size, or location: Regular monitoring of risk management systems Annual effectiveness reviews Comprehensive coverage of financial, operational, and compliance controls Board-level accountability for risk oversight Transparent reporting on risk management approaches For global businesses, these activities are not mere compliance exercises but essential practices that promote sustainable growth and resilience. Third- and fourth-party risk -- the extended enterprise challenge Organizations depend on a complex network of suppliers and partners to deliver services to end consumers. The provision’s emphasis on material controls is particularly relevant when applied to third- and fourth-party risk management. The pandemic, geopolitical tensions, and supply chain disruptions have exposed vulnerabilities in global business relationships. Applying Provision 29 principles to third-party management involves: Identifying third-party relationships that pose material risks Establishing continuous monitoring systems beyond initial due diligence Implementing appropriate controls aligned with vendors' risk profiles Ensuring Board visibility into significant third-party risks Developing contingency plans for critical supplier failures Fourth-party risk—the vendors of your vendors—introduces an additional layer of complexity. While Provision 29 does not explicitly address this layer, its principles naturally extend to these hidden dependencies such as: Mapping critical fourth-party relationships that could impact business continuity Establishing contractual obligations for third parties to manage their supply chains effectively Implementing monitoring systems that provide visibility beyond direct suppliers Collaborating with industry peers to address common fourth-party risks Building global operational resilience Operational resilience—an organization's ability to adapt, respond to, and recover from disruptions—relies on effective risk management across geographies. Applying Provision 29 globally often involves the following strategies: Break down geographic silos:  Ensure consistent risk approaches across regions while allowing for local adaptations where necessary. Leverage technology:  Utilize GRC platforms and monitoring tools for real-time visibility into global operations. Clarify accountability:  Establish governance structures that define risk ownership across multinational organizations. Promote risk culture:  Foster a shared understanding of risk appetite and management approaches across all locations. Develop scenario-based resilience plans:  Prepare for disruptions that may cross geographic and organizational boundaries. The business case for global implementation Beyond regulatory compliance, organizations that embrace Provision 29 principles often realize significant benefits: Strategic agility:  Access to accurate risk information enables faster, more confident decision-making in uncertain environments. Resource optimization:  Prioritizing material controls reduces wasted effort on low-impact compliance activities. Improved stakeholder confidence: Demonstrating strong risk management attracts investment and strengthens stakeholder relationships. Competitive differentiation: Superior risk management capabilities can become a competitive advantage in volatile industries. Moving forward: from compliance to capability For global organizations, applying the principles of Provision 29 requires shifting from a compliance mindset to embedding risk management as a core capability. Steps to consider in making this shift include: Identify material risks:  Understand the most critical risks across your global footprint. Develop consistent frameworks: Build unified risk management frameworks with flexibility for regional adaptations. Invest in technology:  Implement platforms that provide enterprise-wide risk visibility. Ensure Board engagement:  Establish oversight that spans geographic boundaries. Embrace continuous improvement: Regularly test and refine your approach through scenario planning and ongoing learning. Provision 29’s emphasis on proactive, integrated risk management offers a universal model for resilience. By applying these principles to manage extended enterprise risks, global businesses can navigate today’s complex risk environment with confidence and agility. Learn more Discover how Provision 29 is shaping risk management practices by registering for our April 29 webinar, “ The UK Corporate Governance Code: Balancing Risk, Control & Assurance.” Our expert panel, featuring Michael Rasmussen, GRC Pundit and Analyst, GRC 20/20 Research LLC; Kirsty Hart, Archer’s Global Head of Risk; and Graeme Keith, Archer’s Vice President of Quantitative Risk, will explore practical applications and insights from the UK Corporate Governance Code. Register

In today’s geopolitical environment, organizations must be more agile than ever in managing risk. This is especially true for defense companies that provide products or services for the government since political uncertainty creates ripple effects that can disrupt supply chains, contract negotiations, and long-term defense strategies. Policy shifts, regulatory changes, and evolving international alliances can dramatically impact global defense operations. Defense organizations that fail to monitor and adapt to these changes risk being blindsided by sudden market shifts, compliance challenges, and unforeseen exposures. Impact of political uncertainty on the defense industry Changing policies, fluctuating defense budgets, and shifting global priorities heighten risks for defense contractors, arms manufacturers, and cybersecurity firms. These uncertainties influence procurement strategies, regulatory requirements, and strategic defense initiatives, making comprehensive risk assessment and mitigation planning essential. Geopolitical tensions and evolving security alliances add further complexity. Defense companies operating in international markets must navigate procurement delays, shifting compliance standards, and new regulatory requirements. In such a dynamic environment, maintaining strategic agility is critical. The ability to anticipate and respond to policy shifts is essential for sustaining operations and securing long-term contracts. Defense companies must proactively evaluate risk exposures and plan for multiple scenarios to stay ahead. This requires real-time data, predictive analytics, and scenario modeling—all key functionalities of a robust RMIS. Why modern RMIS Is essential for defense organizations A risk management strategy is only as effective as the tools that support it. There are several reasons why it is vital for defense companies to ensure their RMIS is optimized for today’s volatile world: 1. Real-time monitoring and risk alerts Political events and policy changes unfold rapidly, and delayed responses can be costly. A modern RMIS should integrate with global intelligence sources, policy updates, and financial indicators to provide real-time alerts on critical developments. By linking these insights to their claims and risk profile, defense companies can shift from reactive to proactive risk management. 2. Scenario planning for policy & funding changes With uncertainty surrounding defense budgets and shifting national security priorities, companies supplying military equipment, cybersecurity solutions, and defense technologies must be able to model different risk scenarios. A fully integrated RMIS connected to a robust GRC solution enables an organization to simulate the potential impact of policy shifts on operations, insurance costs, and supply chains. 3. Regulatory compliance and adaptation New sanctions, export controls, and evolving compliance requirements make regulatory alignment a moving target. An up-to-date RMIS equipped with AI-powered compliance tools automates regulatory tracking and ensures adherence across multiple jurisdictions, reducing the risk of non-compliance. 4. Centralized data for informed decision-making Managing risk data — from geopolitical threats to cyber risk — requires a single source of truth for enterprise-wide visibility. A well-maintained RMIS, integrated with a strategic GRC framework, centralized this data, empowering leadership teams to make informed, strategic decisions in an unpredictable world. Future-proofing risk management in the defense industry Political uncertainty isn’t going away. Shifts in global alliances, evolving defense strategies, and economic volatility will continue to challenge defense organizations. The key isn’t just having a risk management system -- it’s ensuring it is continuously updated, powered by real-time insights, and capable of scenario planning for ever-changing conditions. Defense companies that invest in modern, data-driven RMIS will thrive in uncertain times.Interested in learning more? Read the whitepaper “ Next-Generation RMIS: Revolutionizing Risk Management ” Visit Archer in Booth #1375 at RISKWORLD, May 3-5, to see how Archer RMIS AI can help you improve your risk management strategy. Register now.

In today's digital world, organizations are searching for integrated platforms that can address their governance, risk, and compliance (GRC) needs alongside other enterprise demands. However, it's important for buyers to carefully evaluate solution providers to ensure they bring specialized expertise to the table.  Rather than focusing on purpose-built GRC platforms, many GRC solution providers try to offer additional solutions that stray far from their core GRC competencies. While this approach may appear beneficial on the surface, it often results in diminished value for buyers due to diluted focus, increased complexity, and reduced reliability.   The Importance of GRC Specialization    GRC platforms play a pivotal role in helping organizations manage evolving regulatory demands, mitigate risks, and maintain compliance. When a GRC solution provider expands into unrelated domains, such as customer relationship management (CRM) or human resources (HR),  they risk losing the focus that makes them valuable . Buyers should be cautious of these risks, which include:   Lack of alignment:  While enterprise systems like GRC, CRM, and HR software may technically integrate, their user teams often have different goals and processes, undermining the value of the solution.   Unnecessary complexity:  Multiple solutions with unrelated features can overwhelm end-users, complicating risk management efforts and reducing overall efficiency.   Loss of expertise:  Specialization is vital in the highly regulated and complex GRC space. GRC solution providers branching into unrelated fields can erode their credibility among users who value focused expertise.    Advantages of a Purpose-Built GRC Platform    For compliance and risk management professionals, selecting a dedicated GRC solution provider and platform delivers significant advantages. The most effective solutions prioritize core GRC capabilities and offer:   Advanced automation and AI:  These tools streamline workflows and allow organizations to adapt to regulatory changes swiftly and effectively.   Centralized systems:  Specialized GRC solutions bring together risk, compliance, and audit processes into a cohesive platform that enhances decision-making and boosts operational efficiency.   Enhanced audit readiness:  Real-time tracking and reporting ensure your organization is always prepared to meet compliance requirements, reducing the burden of audits.   These concepts are echoed by Karta, one of Archer’s key partners, in their blog How a 'Do-it-All' Software Approach Can Spoil Your Risk & Compliance Programs .  They compare it to a chef trying to cook every cuisine on the planet at once—the result is a chaotic, flavorless mess that satisfies no one.  Karta states: "This is the danger of working with a software provider that tries to be everything to everyone and claims they can replace distinct, purpose-built tools and platforms in one grandiose offering. While seemingly comprehensive, these 'do-it-all' platforms often lack the depth and expertise needed to truly address the unique and complex challenges of distinct functions in modern organizations."   What True GRC Solution Providers and Solutions Mean for Buyers    When considering a GRC platform, buyers should prioritize solution providers who are dedicated to GRC and who draw on years of expertise to tackle the unique challenges found in compliance and risk management. For organizations looking to mitigate risks effectively and achieve long-term success, investing in specialized GRC platforms is essential. A strong GRC platform is the cornerstone of any successful risk management strategy. Without one, it’s infinitely harder to leverage common processes, share data and gain visibility into risks across your enterprise.   Download our white paper, 5 Things to Know When Researching Risk Management Platforms , and discover the key factors to consider when selecting a strong GRC platform.

Despite rapid technological advancements across nearly every sector, risk management information systems (RMIS) have seen little to no meaningful innovation in over a decade. Many organizations still rely on outdated systems, manual processes, and fragmented data to navigate increasingly complex risk challenges. That needs to change. Risk is more complex than ever Today, businesses face a growing web of risks that are more unpredictable and interconnected than ever before. The challenges are relentless, from a surge in claims and geopolitical instability to cyber threats, regulatory shifts, supply chain disruptions, climate-related disasters, and economic volatility. Traditional RMIS tools, designed for simpler times, are ill-equipped to handle evolving risks. Relying on outdated technology is like navigating a storm with a broken compass — it leaves your organization exposed and unable to respond effectively. RMIS solutions are stale—and in dire need of change For years, companies have been locked into legacy systems that fail to harness modern technological capabilities. Many RMIS platforms lack real-time data processing, predictive analytics, and seamless integration with other enterprise systems. This results in data silos, slow decision-making, and missed opportunities to mitigate risk. Furthermore, manual processes often dominate risk management workflows. Risk teams spend valuable time compiling reports, tracking incidents, and analyzing fragmented data rather than focusing on strategic decision-making. Without innovation, businesses remain vulnerable and reactive. It’s time for a shift. Fresh thinking and the adoption of modern, AI-powered solutions can bring RMIS into the digital age. AI and data-driven analytics: the future of RMIS Artificial intelligence (AI) and advanced data analytics are revolutionizing industries worldwide. In risk management, these technologies provide organizations with the tools to anticipate threats, respond swiftly, and make data-backed decisions. Next-generation RMIS platforms leverage AI to transform the way businesses manage risk by enabling: Real-time risk monitoring:  AI continuously scans global events, regulatory updates, and emerging threats, delivering instant alerts so organizations can respond proactively. Predictive analytics:  By analyzing historical data and identifying patterns, AI-driven systems can forecast potential financial, operational, or reputational risks. Automated compliance management: Regulatory tracking becomes streamlined with automated updates and compliance checks, reducing human error and ensuring adherence to evolving regulations. Unified risk visibility:  Advanced RMIS platforms break down data silos, offering a comprehensive view of risks across the enterprise, supporting better collaboration and informed decision-making. Imagine a system that not only flags a developing supply chain disruption but also models its potential financial impact and suggests mitigation strategies. That’s the power of AI-driven RMIS. Embracing the future of risk management The future of risk management is not just about keeping pace with emerging threats—it’s about gaining a strategic advantage. Organizations that adopt AI-powered RMIS solutions can reduce costs, enhance operational efficiency, and protect their reputation. It’s time to break free from outdated systems and embrace a data-driven, proactive approach to managing risk. Interested in learning more? Download our whitepaper, "Next-Generation RMIS: Revolutionizing Risk Management" ,  to explore how modern RMIS solutions can transform your organization’s approach to risk management. Want to see Archer RMIS AI in action? Visit us in Booth #1375 at RISKWORLD, May 3-5 in Chicago to discover how next-generation RMIS can strengthen your risk management strategy. Register now!

Regulatory updates feel like a never-ending treadmill—just as businesses adapt to one rule, another change emerges. Compliance teams struggle to keep up, and executives worry about unseen risks slipping through the cracks. But what if AI could shift compliance from a reactive headache to a proactive advantage? Organizations face the constant challenge of staying compliant with a complex patchwork of requirements without losing momentum or efficiency. Leveraging advanced AI tools can transform compliance management, making it easier to navigate regulatory changes, improve operations, and stay ahead of the curve. Understand What Really Matters to You Whether at a global, national, regional, or local level, regulations are constantly added, changed, and removed. This ecosystem evolves as governing bodies respond to new technologies, political shifts, and economic threats. AI can help organizations sift through this data and highlight what matters most. By analyzing factors like industry, geographic location, risk appetite, and business priorities, AI surfaces the most relevant regulations, helping compliance teams focus on what needs attention and address emerging requirements before they become risks. Knowing which regulations matter is only the first step. The real challenge is translating that knowledge into action—ensuring compliance policies and controls adapt in real time. That’s where AI makes a real difference. Understand How It Impacts What You Do Identifying relevant regulatory updates is valuable, but that’s only part of the story. The next question is—now what? Connecting the dots between policies, controls, and regulatory obligations is a critical part of a compliance strategy. This connection helps organizations respond effectively to obligations and avoid critical oversights. AI automates this process by mapping existing policies and controls to new and updated regulatory requirements. This ensures nothing falls through the cracks and reduces the manual burden on compliance teams. AI can identify control gaps and policy conflicts, propose resolutions, and prioritize remediation efforts. This gives compliance analysts a head start in assessing the impact of regulatory changes at the organizational level. By scaling this process, AI ensures that controls align with business requirements while reducing redundancy and enhancing consistency. Once the gaps are addressed, how can you ensure controls are working and obligations are met? Use an End-to-End Compliance Solution for Effective Outcomes An end-to-end AI-powered compliance solution ensures organizations don’t just react to regulatory changes—they stay ahead, delivering measurable improvements in risk management and efficiency. Understanding where regulators focus their attention helps organizations prioritize remediation when control failures occur. AI-driven solutions collect enforcement action data from relevant jurisdictions and link that data to obligations and controls. This makes it easier to pinpoint high-priority compliance areas and allocate resources efficiently. Additionally, AI highlights which controls are most critical and confirms they are regularly in scope for compliance testing or independent audits. This ensures testing efforts focus on the right areas, allowing organizations to course-correct proactively before falling short of regulatory expectations. Why It Matters AI has the potential to transform how your organization handles compliance. Instead of being a cumbersome cost center, compliance becomes an integrated, manageable part of the business that delivers strategic value. With AI, businesses can track regulatory changes, adjust their policies and controls efficiently, and remain compliant without bogging down operations. In the coming years, compliance won’t just be about avoiding penalties—it will be a competitive differentiator. Organizations that embrace AI-driven compliance today will be better equipped to handle tomorrow’s regulatory landscape, turning risk management into a driver of business success. Interested in learning how Archer leverages AI to maximize efficiency? Read the whitepaper AI Powered Risk and Compliance.

In today’s fast-paced digital environment, companies are under immense pressure to maintain compliance and manage risk effectively under tight budgets. Governance, Risk, and Compliance (GRC) software has become an indispensable tool in achieving these objectives, and Archer provides world-class solutions. Many organizations are finding that their legacy on-premises GRC systems are not sufficient to meet their needs. Transitioning to a leading-edge SaaS solution like Archer is critical and here’s why: 1.      Scalability and Flexibility. On-prem systems are often rigid and expensive to scale. Companies experiencing growth or navigating complex regulatory landscapes can quickly outgrow their existing infrastructure. SaaS solutions, on the other hand, are inherently scalable. 2.      Cost Efficiency. The total cost of ownership for on-prem GRC systems is often underestimated. These systems can require significant upfront investments in hardware, software licenses, and IT personnel for maintenance. SaaS solutions are subscription-based, spreading costs over time and eliminating the need for costly infrastructure and ongoing maintenance. This shift from capital expense (CapEx) to operating expense (OpEx) provides financial flexibility and predictable budgeting. 3.      Rapid Deployment and Updates. Traditional on-prem systems often have lengthy implementation processes, delaying time-to-value. SaaS solutions can be deployed much faster, enabling businesses to start leveraging their benefits almost immediately. 4.      Improved Collaboration and Accessibility. Modern businesses operate in increasingly distributed environments. Remote work, global teams, and third-party collaborations demand tools that are accessible anytime, anywhere. Your GRC tool should be no different. 5.      Data Integration and Analytics. SaaS platforms are designed to integrate easily with other business tools, enabling organizations to create a unified view of risk and compliance. Advanced analytics and reporting capabilities help companies derive actionable insights, identify trends, and make informed decisions. 6.      AI-Powered Insights and Automation. The integration of artificial intelligence (AI) into SaaS GRC platforms is revolutionizing how organizations manage risk and compliance. For example, AI should monitor and respond to regulatory changes, associate regulatory intelligence to control implementations, establish controls aligned with business requirements, and integrate with audit and compliance processes. 7.      Enhanced User Experience. User experience (UX) is a critical factor in the adoption and effectiveness of any software solution. Modern SaaS GRC platforms should be designed with user-centric interfaces that simplify complex processes and reduce the learning curve for users. Intuitive dashboards, customizable workflows, and self-service options empower users to navigate with ease. By prioritizing UX, SaaS solutions increase user engagement, reduce errors, and drive greater productivity across the organization. Conclusion The pace of technological change is not slowing down and migrating from on-prem GRC software to a SaaS solution is no longer a question of “if” but “when.” The scalability, cost-efficiency, security, and adaptability of SaaS platforms position them as the optimal choice for forward-thinking organizations. By embracing this transition, companies not only enhance their risk and compliance capabilities but also drive agility and innovation in an increasingly complex business environment. To learn more about Archer Evolv, Archer’s premier SaaS offering, read the press release on www.ArcherIRM.com .

We’re nearing the end of another successful Archer Summit and it’s been an extraordinary three days of sharing ideas, making connections, and having fun! Day 3 of Archer Summit 2024 marked a pivot from product roadmap updates and customer panels to breakout sessions and learning labs where ‘the rubber meets the road.’ On the heels of industry user group meetings earlier this week, breakout sessions led by Archer clients and the Archer Executive Forum focused on how Archer can help address today’s most critical business challenges. Topics ran the gamut from assessments to AI, regulatory topics to resilience, and intelligence to next-generation risk management. Attendees gleaned practical knowledge from real-world success stories from Archer clients and partners, including: Ally Apollo Best Buy CastleHill Corebridge Financial Crowe Electric Reliability Council of Texas (ERCOT) Ent Credit Union EY Federal National Mortgage Association (Fannie Mae) Fifth Third Bank Haleon HESTA & Securus Home Depot Intuitive Surgery KPMG Maersk Mars Inc. MTN Group Nationwide Mutual Insurance Company NiSource Raiffeisen Bank Rakuten Saudi Aramco South Side Bank State Farm TD Bank The MITRE Corporation Truist Vanguard Bank of the Philippine Islands Verterim Zions Bancorporation The crescendo for the day was the announcement of Archer Summit 2024 Award winners – stay tuned for more to come on that later. This evening, attendees are invited to a Client Appreciation event at the historic Generations Hall to indulge in the vibrant local cuisine and enjoy an electrifying performance by Cowboy Mouth, a beloved band from New Orleans. Although parting with the lively spirit of the Big Easy for Archer Summit 2024 is bittersweet, anticipation is already building for Archer Summit 2025! We extend our heartfelt gratitude to all of our clients, partners, and colleagues for making Archer Summit 2024 compelling and rewarding. Your involvement and engagement have been invaluable, and we eagerly await the next Archer Summit!

The opening keynotes and "Southern Charm" welcome reception at Archer Summit 2024 on Monday night kicked off events in typical fashion – fun, friends, and lots of sharing of risk and compliance ideas! Today was equally amazing as we jumped into everything, from product keynotes to client panels to user groups to breakout sessions and more: Industry user groups for Public Sector, Energy, Healthcare, Supply Chain/Manufacturing and Financial services gave participants a chance to interact with like-minded folks and discuss topics relevant to their industries. The Archer Product team delivered a view into the groundbreaking capabilities available now and coming soon. Highlights included presentations on Archer’s next generation risk experience and a client panel discussion with executives from Truist, Allied Irish Bank, Rakuten, and Cardworks giving us a glimpse into the challenges their organizations face and how they’re overcoming them with Archer. Breakout sessions featured speakers from Saudi Aramco, Ally Bank, Best Buy, Fannie Mae, Rakuten, TD Bank, Truist, Kellanova, Haleon, Highmark Health. Archer partners CastleHill, NiSource, and Cential joined Archer clients and staff to present insightful perspectives on using Archer. Session topics included how to elevate your internal controls with Archer; how Archer RMIS AI can reduce costs and enhance the value of your GRC program; how to build efficient GRC frameworks; and the importance of data driven insights in risk management. The Archer Executive Forum, a group of 23 chief risk, compliance, audit and security officers, met with Archer executives to discuss the importance of AI in GRC, how to drive value using risk quantification, and how Archer can help organizations strategically deploy their risk and compliance capabilities as real business differentiators and drivers. We’re grateful for our valued partners and their partnership with Archer and our clients. If you haven’t stopped by the Partner Pavilion yet, check it out. The day ended with dine around dinners at some renowned New Orleans restaurants – great food and company!

Greetings from the dynamic and vibrant city of New Orleans. Today is the opening stanza to Archer Summit 2024, our annual user conference set in a city where the rhythm of jazz echoes the heartbeat of endless possibilities.  New Orleans is picture-perfect backdrop – culturally rich, steeped in history, full of life and always willing to invent anew.   In a world of seemingly non-stop change, risk and compliance teams often find themselves in uncharted territory. At Archer Summit, we explore strategies to not only manage but anticipate risks in a world where unpredictability is the new normal. There’s no better place to delve into these discussions than New Orleans, a city that has rebounded from its own complex challenges, demonstrating resilience and adaptability. This vibrant location provides an inspiring backdrop for our discussions on risk, resilience, and innovation.   This year’s Archer Summit kicked off in grand style with CEO Bill Diaz announcing a truly exciting strategy to help our clients transform their risk management strategies.  On the heels of record expansion and growth for the Archer business, Bill announced Archer Evolv , an innovative SaaS solution that brings together transformative enhancements to help our clients transcend today’s challenges. Archer Evolv incorporates deep learning AI capabilities to provide guidance and insights throughout the risk management program. Built on our SaaS platform, Archer Evolv is global, scalable, easy to integrate and mobile. Our clients can address emerging challenges and quickly leverage the capabilities they need throughout their business.  With a next generation user experience and intelligent workflows, Archer Evolv empowers users at all levels with real-time data insights that guide them to make informed decisions and take action. Our compliance and risk solutions help clients turn siloed, reactive and transactional risk and compliance approaches into strategic, proactive and opportunistic business differentiators.  A key element of our strategy is our unmatched ability to automate   staying informed about regulatory developments and anticipate changes that may impact operations, compliance obligations, and risk profiles.  Bill outlined the transformative approach delivered by Archer Assurance AI as we announced last month .  Bill also elaborated on the differentiated capabilities we have developed for risk quantification with Archer Insight and the expansion of capabilities of Archer RMIS AI. The result is an integrated approach to risk, compliance and audit that transforms risk management programs from being seen as simply a cost center driving administrative overhead to a core business function that delivers strategic value. Across industries, regulatory requirements are intensifying. Compliance teams must navigate stringent regulations, ensuring that compliance is not merely reactive but embedded into the organization’s culture and processes. At the same time, risk managers face the challenge of preparing for events that can cause sudden, widespread disruptions, from natural disasters to geopolitical events.  Set against the background of New Orleans’ enigmatic charm and diverse influences, Day One was just the start as Archer Summit 2024 unveils more innovations that will help our clients unmask boundless opportunities lying beneath the surface of uncertainty.

While the need for risk management has never been more critical, the challenge goes beyond just managing risks. It requires evolving processes to fuel innovation and business growth. The Archer Platform empowers businesses to manage risk  across the organization through a transformative user experience, intelligent workflows, and real-time insights. Empowering Your Users Archer is built with the user in mind, delivering a truly transformational experience that simplifies the most complex aspects of risk management.  A clean, intuitive UI allows teams to spend less time trying to remember how to do risk management and more time on critical steps, improving the quality and timeliness of information, reducing bottlenecks and improving decision-making processes. Redefining Risk and Compliance Management with Intelligent Workflows Going beyond just making risk management easier, Archer introduces intelligent AI-driven workflows that completely redefine how organizations manage GRC. These workflows are designed to automate repetitive tasks, streamline processes, and provide end-to-end visibility, ensuring that users can respond to risks with better information and with greater precision. Archer workflows transform risk and compliance from being reactive processes to proactive, value-driving activities that fuel growth for your business. Redefining Risk and Compliance Management with Intelligent Workflows Going beyond just making risk management easier, Archer introduces intelligent AI-driven workflows that completely redefine how organizations manage GRC. These workflows are designed to automate repetitive tasks, streamline processes, and provide end-to-end visibility, ensuring that users can respond to risks with better information and with greater precision. Archer workflows transform risk and compliance from being reactive processes to proactive, value-driving activities that fuel growth for your business. Delivering Real-Time Business Insights for Informed Decisions One of the most significant advantages of Archer is delivery of quantifiable business insights that guide users in making informed decisions. In risk management, having financial information to evaluate risks is critical. Archer integrates quantifiable data from across your business, offering a comparable view of risks, compliance status, and potential pitfalls. With these insights at your fingertips, you can identify trends, anticipate challenges, and take measured steps to mitigate risk. Quantifiable insights also provide a clear, actionable picture of the organization’s enterprise risk posture, enabling leadership to make strategic decisions that align with their strategic and operating objectives. Conclusion Archer doesn’t just help organizations manage risk. We help our clients —transform the way they approach GRC to drive business innovation and growth. Through a simplified user experience, intelligent workflows, and real-time insights, Archer empowers users to take control of risk management and make smarter, faster decisions. By integrating risk management seamlessly into your business, Archer ensures that your organization is not only protected from risk but also positioned to thrive in an ever-changing landscape. Interested in learning more about the Next Generation Risk Experience with Archer? Watch the video, check out the website, or contact us.

Businesses are increasingly turning to artificial intelligence (AI) as a tool for innovation and growth. A recent Gartner survey found that 44% of companies are now using AI in some capacity, up from 37% last year. But with this growth comes responsibility. Without proper oversight, businesses risk mismanaging the use of AI tools, potentially leading to ethical concerns and regulatory issues. Strong AI governance is no longer optional but an essential consideration for any business looking to thrive in the AI era. The use of AI brings new challenges for risk managers Risk managers face numerous challenges in managing and governing AI technologies. One of the biggest hurdles is the absence of centralized AI oversight. With AI systems deployed across various departments, the task of tracking AI assets and ensuring cohesive management becomes a formidable obstacle. This fragmentation can lead to unmanaged deployments, escalating the risk of ethical lapses and regulatory non-compliance, fines, and penalties. New AI regulations will have a substantial impact on how organizations use AI. Navigating the intricate requirements of the European Union (EU) AI Act and other regulatory frameworks can be daunting. Risk managers must continuously update policies and controls to adhere to evolving standards, which can be resource intensive and prone to errors.  Identifying, assessing, and mitigating risks, including biases in AI models, is critical to avoid legal and reputational damage. However, risk management programs tend to lack the necessary tools and expertise to conduct thorough risk assessments and audits, leaving them vulnerable to unintended consequences of AI usage.  Transparency and explainability of AI processes are crucial yet challenging to achieve. Stakeholders often struggle to understand and trust AI decision making due to the opaque nature of many AI models. Without clear explanations, gaining stakeholder buy in and ensuring accountability becomes difficult.  Furthermore, data governance is a critical area where many organizations falter. Ensuring data quality, integrity, and security throughout the AI lifecycle is essential. Maintaining high standards and complying with data protection regulations requires robust governance practices that many organizations find challenging to implement effectively.  What is AI Governance? The purpose of AI governance is to avoid and mitigate potential harm and build trustworthy AI systems that serve the interests of your customers, employees, community, and society. AI governance is a framework of policies, processes, and controls designed to ensure that AI systems are developed, deployed, and used ethically, responsibly, and in compliance with legal and societal norms.   When AI systems are employed to make decisions affecting individuals, there is a risk of unintended harm to customers, employees, communities, or broader society. AI governance must consider the potential risks and impacts at every stage of the AI lifecycle.   Trustworthy AI has varied definitions based on perspective, yet most converge on a set of core principles:   The European Union (EU) AI Act defines trustworthy AI as being "legally compliant, technically robust, and ethically sound." The National Institute of Standards and Technology (NIST) outlines characteristics of trustworthy AI in its AI Risk Management Framework (AI RMF), including valid and reliable, safe and secure, accountable, transparent, explainable, privacy-enhanced, and fair with regard to managing harmful bias. Five questions to ask your risk management team to evaluate your AI readiness How do you manage and track all AI assets across your business? What steps have you taken to ensure compliance with the EU AI Act? How do you assess and mitigate risk and biases in your AI models? How transparent are your AI decision-making processes to stakeholders, and what tools do you use to ensure explainability?  How scalable are your AI Governance practices to ensure compliance with new and changing AI Governance regulations? The answer to these questions is not a simple yes or no.  They require a thoughtful and thorough evaluation of the AI initiatives in use and the policies and processes in place to govern them. This evaluation should involve collaboration between risk managers, IT leaders, data scientists, and other key stakeholders to ensure a holistic understanding of AI usage across the organization. 83% of business leaders believe they need to adopt AI governance frameworks to ensure ethical AI usage and reduce bias. World Economic Forum May 2024 By regularly evaluating and adapting AI governance practices, the risk management function can anticipate potential risks and stay ahead of regulatory changes. Employing a robust AI Governance program also demonstrates a commitment to stakeholders and promotes trust in the organization's use of AI technologies. Introducing Archer AI Governance Archer AI Governance  empowers risk managers to tackle these challenges and ensure responsible AI use throughout the organization. Aligned with the stringent requirements of the EU AI Act, Archer AI Governance provides a robust suite of features that help to manage AI risks effectively, maintain compliance, and promote ethical AI practices.  Interested in learning how Archer AI Governance can help your organization effectively manage AI usage risks?  Archer clients and partners are invited to join us on October 4 for a Free Friday Tech Huddle .

Meeting regulatory and risk requirements can be challenging. The complexity and volume of regulations can overwhelm compliance teams. Additionally, managing corporate policies alongside these regulations adds even more complexity because organizations must ensure that internal policies align with regulatory obligations. Many organizations have scattered information and data with no holistic view of either their regulatory or non-regulatory obligations and policies. This flawed system leads to inefficiencies, errors, and a lack of scalability. Moreover, this approach leaves the organization vulnerable to non-compliance, reputational damage, and financial penalties. How do organizations overcome this struggle and achieve the effectiveness and efficiency needed to manage risk, compliance, and corporate policies in today’s dynamic environment? Introducing Archer Assurance AI, the only solution that uses AI to monitor and respond to regulatory changes to meet regulatory requirements, create a global catalog that includes both regulatory and non-regulatory obligations, and perform gap analysis and propose resolutions to ensure control procedures are aligned to business requirements. Archer Assurance AI offers horizon scanning to automatically monitor global regulatory environments to stay on top of new and updated regulations. It also uses AI to filter and categorize content and deliver only relevant updates. Assurance AI processes your corporate policies needed to manage risk in their original format. The solution categorizes, parses, and versions the content to develop a centralized global regulatory and non-regulatory obligations library. Keeping regulatory obligations and corporate policies in a single library provides visibility to all your organization’s commitments and ensures no obligations are overlooked. Archer Assurance AI allows you to manage the full lifecycle of regulatory changes by keeping up with the constantly changing regulations to ensure your compliance efforts are always aligned with business objectives and industry standards. Embrace the future of risk management with Archer Assurance AI! Contact us ( https://go.archerirm.com/archer-contact-sales ) to learn more about how Archer Assurance AI can enhance your compliance program.