Pew Report: States Struggle with Federal Funding Management

Strong validation from The Pew Charitable Trusts, and it mirrors our own findings. Our State Roadmap addressed these challenges before the Pew report came out (and I am very proud of our team for doing so), providing states with a clear path across governance, workforce, technology, and risk management. The states that build this capacity now will be best positioned when it matters most.

I believe true macro-prudential oversight requires a level of systemic pressure. And we have a long way to go. However, the operational reality is that as long as our baseline enterprise market operates with opaque, manual record-keeping, commercial risk committees will continue to default to defensive pricing postures. We cannot solve a credit deficit by adjusting monetary levers alone, we must systematically enforce regulator-safe optics at the enterprise source to permanently eliminate the risk premium.

In an increasingly volatile global economy, modern public financial management is no longer just about balanced budgeting. It is about systemic fiscal resilience and sovereign capital preservation. The era of managing fiscal risks in isolation is officially over. In light of the Moody’s Future of Risk Report, institutional risk architecture must evolve to address the compounding nature of interconnected threats. Compounding Risks in Public Finance Non-financial vulnerabilities no longer remain confined. They rapidly cascade into core sovereign metrics: 1. The Interconnected Spillover A localized cybersecurity breach or supply chain shock can quickly disrupt core operations. This leads directly to revenue contraction, sudden fiscal deficits, and unexpected pressure on emergency cash reserves. 2. Direct Balance Sheet Impacts Contingent liabilities, energy market shocks, and climate disruptions are no longer external noise. They translate into structural expenditure increases and trigger unexpected debt sustainability challenges. 3. Amplified Risk Premiums Risk managed via disconnected departments causes critical policy lags. This sends negative market signals that directly elevate risk premiums and sovereign borrowing costs. The Strategic Value of Unified Risk Management Proactive risk management is no longer a regulatory checklist or a defensive burden. It is a critical instrument for financial sustainability: ✔️ Creating Fiscal Space Shifting from historical logs to predictive modeling allows authorities to anticipate shocks early. This safeguards the crucial fiscal space needed for priority spending and strategic investment. ✔️ Unified Visibility Breaking down the walls between revenue authorities, debt offices, and treasury operations is essential. It ensures that all key decision-makers see the exact same fiscal picture in real time. ✔️ Risk Intelligence over Compliance Evolving to "Risk Intelligence" optimizes the sovereign risk-reward profile. This directly strengthens public asset protection and enhances investor confidence. Ultimately, advanced risk architecture is a country's strongest defense mechanism—transforming vulnerability assessment into a strategic advantage that anchors macroeconomic stability. It’s a balanced equation: Fiscal Resilience + Interconnected Data + Rapid Execution + Market Confidence Modern public financial management is not about containment and control. It is about confidence, adaptability, and real impact. #PublicFinance #FiscalPolicy #RiskManagement #SovereignRisk #DebtSustainability #Macroeconomics #RiskIntelligence #FinancialStability

Downtime = lost revenue + lost trust⏱️ Financial institutions can’t afford delays during IT disasters. That’s why a solid Disaster Recovery Plan, backed by managed IT services, is a must, not a maybe. 💡 Learn how to protect your data, clients, and compliance here: https://lnkd.in/epJzVqPY #Finance #ITSecurity #DisasterRecovery #B2TechnologySolutions

Many business risks develop quietly over time. What starts as a small discrepancy can escalate into significant financial or operational damage if left unchecked. Early visibility allows for faster, more controlled intervention. Start your investigation before it escalates. 🌐 vanguardtracing.co.za

PRESS RELEASE To: Media and Press Agencies PC1 Group sincerely appreciates your ongoing media coverage and support. Regarding the prosecution of certain individuals among the Group’s leadership pursuant to Official Dispatch No. 1606/VPCQCSĐT-P3 dated May 15, 2026, PC1 Group officially responds as follows: Upholding the rule of law, PC1 Group is fully cooperating with competent authorities. Concurrently, we have taken all necessary measures to ensure our corporate governance, executive management, and business operations remain stable, continuous, and lawful. In the spirit of Resolution No. 68-NQ/TW issued by the Politburo on May 4, 2025, legal authorities have enabled the implicated individuals to grant FULL authorization to the Group’s key personnel. This allows them to continue GOVERNING and OPERATING the enterprise without any disruption to business activities. Because our core, vital, and strategic business sectors were proactively designed to operate professionally and independently, they remain unaffected. All production and business activities continue normally across the Energy, Industrial, Plant Operations, and domestic and international project sectors. PC1's sites, factories, and operational systems function safely and stably; all obligations to customers, partners, banks, investors, and employees are being fulfilled exactly as committed. The Board and management team are proactively ensuring continuity in executive operations, risk management, and employee morale with responsibility, professionalism, and transparency. Over its 60-year history, PC1 has been shaped by generations of executives, engineers, and employees through dedication, discipline, and persistent contributions to national energy, infrastructure, and economic development. These core values remain our foundation to sustain operations, overcome challenges, and safeguard our corporate reputation. PC1 Group deeply values the continued trust and companionship of our Shareholders, Investors, Customers, Partners, and employees. This is our vital driver to stabilize operations, enhance governance, uphold social responsibility, and achieve sustainable growth ahead. All official updates will be publicly disclosed by PC1 in strict compliance with legal regulations and disclosure obligations of a listed enterprise. ----------------- Media Contact: PC1 GROUP JOINT STOCK COMPANY Email: bantruyenthong@pc1group.vn

Industry perspectives From regulation and risk management to investment oversight and client experience, we’re exploring the forces shaping financial advice and the wider industry. Speaking to our internal experts and getting their perspectives to our ‘Quick Fire Questions’ We caught up with David Gorman, Head of Risk & Control at M&G Advice, and asked him: 💬 What should financial advisers prioritise over the next 12–24 months from a risk perspective? "Ultimately, it’s about their clients. Delivering genuine value builds trust, confidence, and long‑lasting adviser / client relationships. Clients want advisers who understand their needs, communicate clearly, and create financial plans that justify advice fees. The more engagement advisers have with their clients, the more opportunities they have to deliver real value." Stay tuned for more insights on key topics and how they translate into day‑to‑day practice.

New work initiated: Compendium of the Federal Reserve Board’s COVID-19 Lending Facilities We are analyzing (1) the Board’s and the Federal Reserve System’s approach to establishing the lending facilities, (2) their results, (3) themes from our prior findings and recommendations and closed investigations, and (4) lessons learned that could inform the implementation of any future lending facilities. https://lnkd.in/eF6USAaB

Financial crime is shifting in ways that put real pressure on existing risk management platforms and systems. A question I hear often is simple but critical: Do we build our own or buy one that already works at scale? It is a major strategic choice, and the trade-offs are not always clear. We asked Chartis to look at what is actually happening in real implementations. They reviewed 130 live platforms, both built and bought, and found clear patterns in: • Cost and ROI • Scalability and performance • Engineering and maintenance effort If your organization is rethinking its platform strategy, this research is genuinely fascinating and gives you a solid reference point before choosing your direction. Download it today. https://bit.ly/4duZcy2

𝐄𝐯𝐞𝐫𝐲𝐭��𝐢𝐧𝐠 𝐥𝐨𝐨𝐤𝐬 𝐮𝐧𝐝𝐞𝐫 𝐜𝐨𝐧𝐭𝐫𝐨𝐥. 𝐔𝐧𝐭𝐢𝐥 𝐬𝐨𝐦𝐞𝐨𝐧𝐞 𝐚𝐬𝐤𝐬 𝐨𝐧𝐞 𝐬𝐢𝐦𝐩𝐥𝐞 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧.   Where exactly is this data used?   Not in theory. Not in documentation. In reality.   Across systems. Across services. Across third parties.   The data exists. The systems are known. The services are documented.   But the relationships between them are not.   So the answer depends on who you ask. And how much time they have to reconstruct it.   That’s where confidence breaks.   Because control doesn’t fail in the incident. It fails in the moment before when no one can give a precise answer.   Not due to missing data. But due to missing structure.   Exactly this structure is what ProgRisCom establishes.   #OperationalResilience #DataGovernance #DORA #ITRisk #ThirdPartyRisk #AuditReadiness