January 1, 2014 Six Recommendations to Improve Board Risk Oversight The financial crisis and subsequent performance failures, including bankruptcy, has resulted in a bright spotlight on boards for a number of organizations in regards to their effectiveness – and lack thereof –...
January 1, 2014 Learning from Risk Management Mistakes The recent financial crisis exposed most organizations to a number of significant risks that placed tremendous stress on operations and profitability, with some organizations experiencing their demise. Through it all,...
April 1, 2013 Improving Strategic Risk Management Strategic risk management plays a crucial role in the ultimate success of an organization. Addressing the deficiencies in strategic risk management helps focus the business plan towards a perspective of...
March 1, 2013 Using Collaboration Risk Management to Recognize Emerging Risks PricewaterhouseCooper recently published a research paper on systemic risk trends. The authors of the paper shed light on the many issues related to the risk mitigation capabilities of businesses for...
February 13, 2013 Strengthening the Role of the Chief Risk Officer in an Organization The role of chief risk officer (CRO) has been put under a microscope to understand methods and key success factors that can enhance the role. Organizations now, more than ever...
February 13, 2013 Top Risks on Horizon for 2013 The top risks that corporate leaders see on the horizon for the coming year include the effect that regulatory changes combined with heightened regulatory scrutiny will have on product and...
October 2, 2012 Internal Audit’s Role in Risk Management Michael Somich, Executive Director of Internal Audit at Duke University, discusses with Dr. Mark Beasley his views about the role internal audit should play within an organization’s ERM process. ...
October 2, 2012 Chief Risk Officer vs. Risk Committees A major stumbling block companies run into when beginning their ERM journey is whether to have one risk champion (CRO) or have a committee that handles risk oversight. Paul Zavolta,...
October 2, 2012 Engaging Business Unit Leaders in Discussing Enterprise Risks Paul Zavolta, Director of ERM at Alpha Natural Resources, provides an overview of how ERM is treated at Alpha Natural Resources. He speaks of how he feels the company’s...
October 1, 2012 Confronting Risk Culture at the Board Level Tackling risk culture head-on – that is, the collective way in which personnel within an organization think about, communicate about, and behave in relation to risk – may be one of the...
September 1, 2012 Minimizing Risks through Creative Strategy Setting Strategic planners often go through a rigorous process of extensive analysis of past performance and forecasts to come up with a robust strategic plan. They attempt to check their biases,...
August 3, 2012 The Importance of Board Support for Enterprise Risk Management: Part 3 A critical element for the success of any ERM effort is the involvement and "buy-in" of the board of directors. Michael Somich, Executive Director of Internal Audit at Duke University,...
July 6, 2012 The Importance of Board Support for Enterprise Risk Management: Part 2 A critical element for the success of any ERM effort is the involvement and "buy-in" of the board of directors. Michael Somich, Executive Director of Internal Audit at Duke University,...
June 4, 2012 The Importance of Board Support for Enterprise Risk Management: Part 1 A critical element for the success of any ERM effort is the involvement and "buy-in" of the board of directors. Michael Somich, Executive Director of Internal Audit at Duke University,...
June 1, 2012 Risk Appetite: A Conversation of Governance Managers often view risk appetite as a highly theoretical concept: one that is determined instead of discussed, irrelevant instead of practical, or static instead of adaptive. This paradigm is due...
June 1, 2012 Executives Take on Enterprise Risk Management Post- Recent Crisis In spring of 2012, a survey of 192 U.S. executives from various industries was conducted by Forbes Insights in association with Deloitte that revealed findings vital to the business world that...
June 1, 2012 Preparing for a Corporate Crisis Before Significant Risks Materialize A recent article from Practical Law The Journal offers boards guidance on preparing and responding to a corporate crisis. A lack of proper planning can make both managing crisis situations...
May 17, 2012 Sustainability: Considerations that Can’t be Ignored from a Strategic Perspective The topic of sustainability means a host of things to people. Many view it from a “going green” or “social responsibility” perspective. While there is value in considering sustainability related...
May 15, 2012 Allegations of Risk Management Overrides Swirl at JPMorgan Chase The turmoil surrounding recent announcements of over $2 billion in trading losses at JPMorgan Chase is now shining a spotlight on risk management failures at the bank. A front-page story in...
May 1, 2012 Lack of Senior Manager Support Impairs Risk Management Here’s a new twist to “risk management”: one of the most damaging risks an organization may face is “management” itself. A recent article in Disaster Recovery Journal highlights the...