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

Risk Management Tools and Techniques Articles

  • Enterprise Governance, Risk and Compliance Platforms

    As enterprise-wide risk management concerns have grown, so too has the market for enterprise governance, risk and compliance GRC platform vendors. This article not only describes the underlying technologies of these platforms, but provides the detailed results of Forrester Research Inc.’s product evaluation of fourteen GRC platform vendors.

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  • Balancing Enterprise Risk Management and Enterprise Performance Management

    Poorly planned and executed risk management capabilities contributed to the collapse, and they are likewise impeding the recovery as companies have shifted from taking too many risks to taking too…

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  • Seven Question Guide to Assessing Your Enterprise Risk Management Practices

    Risk professionals should consider seven questions in evaluating risk management tools, improving risk management practices, and assessing the state of ERM in an organization. Professionals should ask these seven questions:…

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  • Importance of Risk Management Mindset

    Many companies that were unprepared for the current economic situation have become hesitant to make decisions regarding the future. For companies to regain confidence in making these decisions there needs…

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  • Six Ways Companies Mismanage Risk

    Effective risk management is difficult even in the best situations, and failure of risk management can cause large losses within an organization. There are six fundamental mistakes risk managers routinely…

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  • Ten Practical Lessons for Risk Management

    Recent events have uncovered significant deficiencies in the way risks are managed at financial institutions and many other companies. Research into these deficiencies shows ten practical lessons companies can apply…

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  • Risk Mis-Management

    The largest banks and investment firms in the United States took excessive risks over the past few years, contributing to the current financial crisis; however, there was little indication to…

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  • ERM is Vital for Businesses and the Economy

    With the recent financial crisis many wonder if risk management could have prevented or minimized the fall out. The answer is yes. However many companies fail to properly implement risk…

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  • Limitations of Traditional Risk Models in Forecasting Risk

    The current economic crisis has upset many common assumptions about the global financial system and shaken investor confidence. While there are unique aspects to this crisis, it is important to…

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  • Aligning Risk Management and Executive Compensation

    Boards of directors are charged with corporate governance tasks that include setting executive compensation and developing the corporation’s strategic agenda in light of its risk tolerance. Using short-term performance metrics, like stock price or earnings per share, to determine executive compensation may encourage executives to make decisions that are not aligned with the corporation’s strategic plan or overall risk appetite.

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  • Keeping ERM implementation Simple

    ERM has gained increasing attention in the current economic environment. Investors, regulators and chief officers alike look to managing enterprise-wide risks as a magic bullet to rebuild trust and prevent…

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  • Emory University’s ERM Implementation

    Leaders at Emory University began an ERM program to improve the university’s ability to manage risks, prepare for adverse events, improve principles and practices related to financial controls, and to…

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  • Web-Based ERM Tools

    The Internal Audit and Advisory Services division of British Columbia’s Ministry of Finance has created tools, available on the internet, to assist other ministries in designing and implementing an enterprise-wide risk management program. These tools include a dictionary of risk events common in government, a risk tracking tool, and a maturity model to measure progress in development and implementation.

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  • Managing Risk Through GRC to Improve Financial Processes

    The Economist Intelligence Unit surveyed 446 senior executives from nine industries about their views on how to improve internal financial processes. The September 2008 survey included multinational executives of companies…

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  • Enterprise Innovation and Integration

    Innovation and integration are important contributors to growth in an organization. In order to foster these activities within the organization, the article recommends developing two agencies: a distributed innovation group…

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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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  • 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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  • Model Risk Management for Financial Service Firms

    The topic of model risk management currently stands at the forefront of risk management for many financial service firms. During these uncertain times, many challenges have arisen with regards to…

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  • Eight Principles of Risk Convergence and Implications for GRC Technology Solutions

    Many organizations are currently working to converge governance, risk, and compliance (GRC) efforts within the company. This convergence creates a holistic view of risk that can benefit the organization in…

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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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