April 1, 2013 Crowdsourcing, A Tool to Tackle Emerging Strategic Risks Organizations are turning to “crowdsourcing” as part of their innovation strategy where they leverage the knowledge of “the crowd” to identify emerging trends and opportunities. A recent article in _Harvard...
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...
January 10, 2013 Q & A: Controlling Spreadsheet Risk Spreadsheets are widely used in today’s business environment, and rightly so – they provide users with a powerful, flexible solution for getting things done. However, there is a difficult truth...
December 1, 2012 SunGard Survey: How Are Companies Managing Financial Risk? This white paper presents the results of a recent study conducted by SunGard, a global provider of technology-related services and solutions. The purpose of the study was to gain an...
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 1, 2012 Applying “Big Data” to Risk Management “Big data” is quickly building a following as a useful tool for helping managers make decisions. But what exactly is big data, and is its use actually beneficial to a...
October 1, 2012 Managing Risks of Innovation Managers attempting to streamline a global innovation project generally do so while haphazardly managing risk. The reason for rushing projects is either lack of available employees, desires for a faster...
October 1, 2012 Four Steps to Better Statistical Performance Measures Managers hinder their performance insight by focusing on sexy performance metrics that may be persistent but not predictive, and vice versa. These popular key performance indicators (e.g., EPS growth)...
September 15, 2012 Managing Supply Chain Risks for Conflict Minerals The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 places new regulations on companies reporting to the SEC. In particular, Section 1502 of the Dodd-Frank Act concerns the use of...
July 27, 2012 Mature Risk Management Drives Financial Performance In a recent survey, Ernst & Young assessed the maturity level of risk management practices and found a positive relationship between risk management maturity and financial performance. It was revealed that...
February 1, 2012 Understanding and Communicating Risk Appetite Risk appetite, as defined by COSO, is the “amount of risk, on a broad level, an organization is willing to accept in pursuit of value.” While the overall concept of...
February 1, 2012 Twelve Areas of Risk a Board Should Consider In today’s dynamic business environment, the only constant for an organization is that it will be forced to change on a regular basis. A recent thought paper by Deloitte...
January 1, 2012 Special Report: Risk Lessons from the 2011 Japan Earthquake Disaster In the Global Risks 2012 report, the World Economic Forum features a special report on the Great East Japan Earthquake of March 2011. The special report highlights some lessons learned from the...
January 1, 2012 The World Economic Forum’s Global Risks 2012 Report The World Economic Forum’s seventh edition of the Global Risks 2012 report details the survey results of 469 global experts from different sectors. The experts ranked the likelihood and impact of 50...
November 1, 2011 Excellence in Risk Management VII The perception of risk management functions within organizations is changing because of the fluid financial environment and other external forces like regulatory agencies now requiring companies to disclose their risk...
October 17, 2011 Compliance, Ethics and Enterprise Risk Management Carlo V. di Florio, the Director of Office of Compliance Inspections and Examinations at the SEC spoke about the relationship between compliance, ethics and ERM. He made his speech at...
September 1, 2011 Better Management of Complexity in Business Companies continue to experience increasingly complex risks and business processes. This Harvard Business Review article argues that to manage the evolving complexity, managers and decision makers need to use different...
September 1, 2011 Business Leaders and Global Capitalism Risk The global spread of market capitalism has provided considerable wealth creation. However, there are concerns regarding how the global market system is currently functioning and these issues must be addressed...
September 1, 2011 Being Aware of Catastrophic Risks Catastrophic risks are always with companies. They can be destructive as well as be the result of a poor decision or lack of making a decision. The consequence associated with...