Abstract A critical step in building an effective risk management culture is understanding the organizational context and speaking a shared language. Driving the right response to risk events requires a common understanding of the potential consequences of outcomes and the criticality of timely response. Without a shared understanding of what is being communicated, risk response […]
Enterprise Risk Management
ERM Adoption Struggling to Keep Pace in Today’s Complex World
It has been a decade since the Great Recession hit our country, threatening to end the American way of life through an economic meltdown. In hindsight, the 2008 sub-prime loan crisis can go down as one of the greatest cumulative risk management failures in U.S. history. When rewards increase, the risks always follow suit, a […]
COSO Updated Enterprise Risk Management Framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released an update to its ERM Framework: Enterprise Risk Management–Integrating with Strategy and Performance, which is the first and long awaited since 2004. The updated COSO framework was developed by PricewaterhouseCoopers by request of the COSO board of directors. The main objective is to keep […]
Exclusive Interview with ERM Expert Carol A. Williams
Carol A. Williams has been working with Risk Management and Compliance/Regulation projects for over a decade having specialised in Enterprise Risk Management (ERM) since 2011. One of her key projects was to design and implement an ERM Programme for a $7+ billion property and casualty insurance company, managing and directing the programme for over two […]
VIDEO: COSO Enterprise Risk Management Course
Choosing an adequate risk framework before adopting Enterprise Risk Management (ERM) is an important task. Adopting a standard framework for defining ERM as baseline is not only best practice but it also allows CROs and Risk Managers to capitalise on existing resources. There are several possible frameworks to start from; some references include COSO Enterprise […]
100+ Countries Corporate Governance Codes
The European Corporate Governance Institute (ECGI) is an international scientific non-profit association. Its main goal is to provide debate forums and facilitate dialogue between academics, legislators and practitioners, with special focus on major corporate governance issues. The development of these dialogues and knowledge exchange promotes best practices which benefit the industry. This article includes a very […]
EBOOK: Reimagining Risk: An integrated Approach to Enterprise Risk Management
Jim DeLoach has more than 40 years of experience in global consulting in business, IT, Risk and Internal Audit. He is currently a member of the Protiviti Solutions Leadership Team. Jim has authored several books, including Enterprise-Wide Risk Management: Strategies for Linking Risk & Opportunity (Financial Times Management Briefings) (FT Management Briefings) (the first book […]
EBOOK: Enterprise Risk Management
Enterprise Risk Management (ERM) is a method which provides a given firm to have an overview of all its key risks and associated information, therefore enabling the board and management team to make balanced, cross region wide risk decisions. Risks are Opportunities Earlier, so it seems, the world was less dangerous. Today, more and more enterprises with […]