SOA Blog

Risk management links for the week of January 2

Happy New Year to all those who have devoted themselves to managing risks inherent in running a business, dealing with health issues or making an investment. Here are the best links for the week of Monday January 2, 2012.

  • Based on recent data from the Bureau of Vital Statistics, Mayor Bloomberg announced last week that New Yorkers’ life expectancy is higher than the national rate, attributing this to anti-smoking and ant -obesity campaigns, increasing taxes on cigarettes and calorie-count requirements for fast food restaurants. However, The New York Times suggested that the increase is unrelated to such efforts and can be attributed to New York City’s expanded testing and treatment of people with HIV. The mortality rate has also decreased as a result of fewer deaths from heart disease, cancer and drug use. (Source: New York Times)
  • The former CEO of UBS AG’s UK wealth management unit, John Pattage, has been accused of failing to act on warning signs that risk controls were ineffective in his division. The Financial Services Authority alleges that the division did not have the proper controls in place to prevent employees from making as many as 50 unauthorized trades a day with funds from at least 39 customer accounts. The case is the first time the regulator has sought to penalize an executive for oversight failures. (Source: Businessweek)
  • Risk managers at educational institutions are increasingly wary of their reputational risks as Penn State faces litigation and serious damage to its public image from the case involving former football coach Gerald Sandusky. As a result, according to Moody’s, the university risks losing state funding for research and other programs, weakened student demand and diminished philanthropic support. (Source: Business Insurance)
  • While more than half of companies allow their employees to bring their own devices to work (affectionately known as “BYOD”), effective corporate management of mobile devices has a long way to go. According to Larry Dunn, vice president of global IT outsourcing at Unisys, most companies still do not use mobile device management (MDM) tools. Even in the industries where these MDM tools have been embraced, particularly in health care and finance, effective change management programs have remained elusive. (Source: CIO India)
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