Enterprise Risk Management Initiative, Poole College of Management, North Carolina State University

Providing Thought Leadership, Education and Training on the Subjects of Enterprise Risk Management

Business Case for ERM Articles

  • The Convergence of Enterprise Performance Management and Risk Management

    Organizations can increase their probability of achieving strategic objectives by taking an integrated approach to deploying strategy and managing associated risks. The Performance/Risk Integration Management Model (PRIM2) provides a framework…

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  • Understanding and Articulating Risk Appetite

    Risk appetite, when properly understood and articulated, can be a powerful tool for managing risk and enhancing overall business performance by better aligning decision-making and risk. Many organizations have a need for increased clarity regarding their risk appetite and this article provides insights on formulating and defining risk appetites.

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  • Enterprise Risk Management Benchmark Survey

    Deloitte conducted a survey of 151 companies over 2006 and 2007 to gauge the current state of ERM implementation. The survey found that interest in ERM is growing, driven primarily…

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  • Contrasting Old and New Models of Risk Management

    This article details the growing importance of ERM and contrasts ERM with old models for risk management to illustrate how ERM, if positioned correctly, can add value to companies today.…

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  • Preparing For S&P Integration of ERM

    Standard and Poor’s (S&P) is integrating an evaluation of enterprise risk management (ERM) into corporate credit ratings beginning in 2009. S&P has considered ERM when rating financial institutions and insurance…

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  • Companies Employing an Entity-Wide Risk Management Program Better Prepared for Credit Crisis

    The CFO Europe Research Services paired with ING Wholesale Banking to research chief financial officer’s opinions on the current credit crisis. More than 450 senior executives across Europe responded in…

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  • Outsourcing and Offshoring Decisions - Taking a Risk Intelligent Approach

    When initiating the use of outsourcing and offshoring, companies should take a Risk Intelligent approach. In doing so, companies can better mitigate risks that develop from outsourcing and offshoring and optimize the benefits from such contracts. Companies should follow the steps within the outsourcing and offshoring lifecycle to when making outsourcing and offshoring decisions.

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  • Using Six Sigma Techniques to Improve ERM Systems

    Enterprise risk management can be difficult to implement and improve upon in an organization due in part to measurement challenges. Using Six Sigma methodologies may offer internal auditors of organizations…

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  • Managing Risks for Comparative Advantage: Five Steps to Better Risk Management

    This articles highlights a five-step process to help companies make changes to better their approach to risk management in response to the developments occurring in the corporate approach to risk…

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  • We Will Never Have a Perfect Model of Risk

    Former chairman of the Federal Reserve Alan Greenspan discusses why both risk and econometric models will never reach perfection. Business cycles and surprising discontinuities attribute to imperfection. Though these models helped past crises, Greenspan notes that the most reliable forms of managing against economic failure are market flexibility and open competition.

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  • NC State ERM Initiative Responds to S&P Request for Comment

    The NC State ERM Initiative has responded to the request for comment issued by Standard & Poor's on their proposed expansion of ERM analysis to nonfinancial companies as part of…

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  • When Strategy and ERM Meet

    This article describes the intersection of strategic business plans and enterprise risk management (ERM). Recent events concerning collateralized debt obligations (CDOs) and subprime mortgages revealed that some institutions were tempted…

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  • The Evolution of Risk and Controls: Seeking Value Creation

    KPMG partnered with the Economist Intelligence Unit to report on the evolution of risk and controls functions within organizations. This report contains findings of how companies are re-defining the roles…

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  • Reputation Risk Management

    Corporations have started to take notice of the importance of reputation risk management, particularly in the past decade. Since 2000, research concerning reputation risk has more than doubled. A use of a top-down risk management strategy, as prescribed in an enterprise risk management strategy, as well as concentration on stakeholders are key parts of successful reputation risk management.

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  • Reputation Risk Management

    A 2008 survey investigated the status of reputation risk management at different companies and found that companies are aware of reputation risks but may not be sufficiently managing these risks.…

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  • Governance, Risk Management, and Compliance (GRC)

    The article titled One for Three provides an interesting perspective for companies using automation for their governance, risk management, and compliance concerns. Governance, risk management, and compliance (GRC) software has…

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  • Cultivating Risk Intelligence for Competitive Advantage

    Risk intelligence requires organizations to consider both unrewarded risks, taken primarily for value protection, as well as rewarded risks, taken to drive value creation. Risk management has been increasing in…

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  • Integrating SOX and ERM- Truths and Myths

    For most organizations, the efforts being made to meet compliance regulations are not tied to current ERM processes. Procedures should be put in place to integrate compliance functionality into existing risk management plans.

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  • Managing Reputation Risk

    Reputation is very important to most organizations, yet many companies do a poor job of managing risks to their reputation. Too often, companies focus their energy on addressing threats to their reputation that have already surfaced instead of proactively searching for potential reputation risks on the horizon.

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  • ERM Business Drivers

    Forrester recently published an article by Michael Rasmussen titled, Business Drivers for Enterprise Risk Management, detailing why companies struggle with implementing and managing a successful enterprise risk management (ERM) program. Groups such as the Open Compliance and Ethics Group and the Professional Risk Managers’ International Association have been established to provide help.

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