Still time to SAVE! Register for Evaluating Your Organization's ERM Approach, March 21-22, 2019

Our workshop, Evaluating Your Organization’s ERM Approach, takes participants through a one-hundred element ERM evaluation tool developed by the ERM Initiative. This tool prompts participants to assess the strength of their organization’s consideration of each element. By the end of the 1.5 day workshop, participants will have conducted a complete self-assessment of their organization’s ERM process. Our next offering of this workshop is March 21-22, 2019. Visit our website for more details.

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Are Universities & Colleges Doing Enough to Manage Reputational Risk?

In a recent survey by United Educators, it is clear that more colleges and universities than ever are implementing enterprise risk management (ERM) as a way to prepare for and respond to risks and opportunities. The question is, however, whether institutions are prepared for one of the largest emerging risks to universities and colleges: reputational risk. This article assesses ERM practices at colleges and universities, describes reputational risk factors, and provides the best practices for identifying, prioritizing, and mitigating reputational risks.

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Startling Results Found in DuPont Sustainable Solutions’ 2018 Global Operations Risk Survey of Corporate Leaders

Despite overwhelming evidence of business disruptions that can occur from failing to manage various risks, company executives are not adequately identifying and preparing for risks that can have potentially catastrophic implications on business operations, according to DuPont Sustainable Solutions’ (DSS) annual global survey of company executives. If left unchanged, a company’s operational performance, business continuity, right to operate and ability to deliver consistent value to shareholders could all suffer.

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Larry Fink’s (BlackRock) 2019 Letter to CEOs – Purpose & Profit

Each year, Larry Fink, BlackRock Chairman and Chief Executive Officer, authors a letter to the companies in which BlackRock invests on behalf of its clients, the majority of whom have decades-long horizons and are planning for retirement. In his 2019 letter Mr. Fink writes, “As a fiduciary to these clients, who are the owners of your company, we advocate for practices that we believe will drive sustainable, long-term growth and profitability. As we enter 2019, commitment to a long-term approach is more important than ever – the global landscape is increasingly fragile and, as a result, susceptible to short-term behavior by corporations and governments alike.”

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Cybersecurity: A Main Focus Topic for Boards

The Center for Audit Quality produced this tool to aid board members, specifically those who are tasked with cybersecurity risk oversight, in discussions with company management, CPAs and financial statement auditors. These questions can help spark dialogue to clarify the roles and responsibilities of the auditors, management and oversight bodies in the internal control over financial reporting and information technology areas of the financial statement audit. It’s important to consider the roles and responsibilities surrounding proper cybersecurity disclosure and cyber breach planning.

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Crisis, the Ultimate Test

Crises provide the ultimate challenge for organizations and management teams. Conventional management practices are inadequate to maintain stakeholder confidence, and the pressure of time can overwhelm decision-making. And the world is only getting riskier. Research conducted by Oxford Metrica during the past 25 years showed that major crises were occurring more often than a casual observer might think. Author Chris Nelson identifies three reasons why the frequency and challenge of crises are getting steadily worse.

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CFO Signals Survey

Deloitte provides this quarterly report to highlight the opinions and perceptions of CFO’s in international industries. More specifically, they attempt to explore CFOs’ perspectives on major economies, government policy, megatrends and disruptors and their own company’s plans to navigate these unfolding challenges. This report provides extensive insight that is useful for many corporations engaged in molding their strategic objectives around financial, economic, political and technological developments.

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People Still Don't Know How to Assess Cyber Risk

Why do consultants keep advising management and boards to consider cyber risk as if it is separate from all other business risks? Managing any single source of risk in a silo is almost certainly going to lead you to make incorrect, uninformed decisions. Cyber is only one of many sources of risk that can affect the achievement of an enterprise objective initiative, program or project. As author Norman Marks discusses, it is not about managing risk — it’s about managing the organization and its success.

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Insights from ERM Leaders from Advance Auto Parts, Conagra, McDonald's and Stanford University

Join us for the ERM Roundtable Summit followed by a Post Roundtable Workshop on April 24-25, 2019. Gain invaluable insights on how these organizations have implemented their ERM programs. The Roundtable will feature Rick Moyer, Senior Associate Vice President and Chief Risk Officer from Stanford University on the topic of "Leveraging the Intersection of ERM, Compliance, and Internal Audit." Don't miss this opportunity to network and learn more.

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Corporate Governance Trends 2018

Each year Russell Reynolds Associates interviews over 30 institutional and activist investors, pension fund managers, public company directors, proxy advisors, and other corporate governance professionals in five key markets to determine trends and challenges public boards will face in the upcoming year. This year a theme that arose across most interviews was the importance of board quality and composition. Investors have become motivated to hold boards accountable for company performance and are acting to ensure boards are meeting corporate governance standards. It is likely that the largest investors will pay closer attention to cybersecurity, climate change risk, and corporate culture in the following year.

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ERM Enterprise Risk Management Initiative 2019-02-21