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Today, we continue our Navigating Risk in 2026 series through the lens of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management Framework. In earlier articles, we highlighted the COSO framework as an internationally recognized model built on five interrelated components of effective internal control, each designed to help organizations manage risk more effectively. To date, we have explored three of these components: Control En

In this week’s Navigating Risk in 2026 series, we focus on Control Activities, a core component of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. Control activities are the policies, procedures, and mechanisms an organization establishes to manage risk within acceptable limits. They translate risk decisions into action and help ensure that exposures identified during the risk assessment process are addressed in a manner consistent with

In this installment of Navigating Risk in 2026, we examine the Risk Assessment component of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management framework. Financial institutions worldwide rely on COSO to structure risk governance, align risk with strategy, and support sound decision-making across the three lines of defense. A risk assessment is a structured, proactive process to identify potential threats and opportunities,

In today’s complex business environment, organizations must prioritize strong corporate governance to ensure sustainable success. One of the most effective ways to achieve this is by integrating robust risk management principles into daily operations. These principles provide a framework that enhances transparency, and accountability. As a professional deeply involved in governance and assurance, I have witnessed firsthand how compliance audits can transform organizational pr

We guided a Barbados-based organization through a focused AML risk remediation that delivered measurable outcomes. After identifying repeated control failures and the absence of a compliance breach reporting process, we designed a targeted remediation plan that included strengthening the firm's AML Framework. Our remediation included tailored training for frontline teams, and implementation of a streamlined compliance breach reporting process. Within six months the client rep

Caribbean financial institutions operating in 2026, must place risk management at the center of their ongoing strategies and business activities. Failure to implement a risk management framework that scales with an organization's size and risk profile can severely impede strategic goals and objectives. It also increases vulnerability to internal and external shocks, invites regulatory action, and opens the door to fraud or errors by rogue actors. Ultimately, these deficiencie