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Poole College of Management
Enterprise Risk Management Initiative

ERM Initiative Staff

Dec 7, 2015

How to Effectively Report Key Risks to Board

How to effectively report key risks to the Board, supported with various examples and supporting information.

Nov 11, 2015

A Simpler Way to Assess Risks?

The vast majority of companies assess risks by evaluating both the likelihood that a risk event will occur and the impact of the risk event if it does occur. The actual ranking of risks is then determined by either calculating the product of likelihood x impact scores, or in some cases the sum of a risk's likelihood and impact scores. When using this methodology, the organization must develop rating scales for both likelihood and impact (and any other dimensions to be assessed, such as velocity or preparedness) as well as definitions for each point on the scales.

Nov 10, 2015

ERM Initiative Releases New Thought Paper on Risk Assessment Practices

ERM Initiative Releases New Thought Paper on Risk Assessment Practices

Oct 26, 2015

A Chief Compliance Officer’s Role in Risk Management

Risks, rules, and regulations: Can today's chief compliance officers keep up? It is commonly known that a company's ability to assess and manage risks to meet stakeholder expectations may ultimately determine the success or failure of an organization. Deloitte and Compliance Week, in their collaborative efforts, have administered a survey to annually assess corporate America's ability to keep up with these rising expectations and to address issues and concerns resulting from current trends.

Oct 1, 2015

Value Creation through Risk Management

Many companies have come to realize that risk management serves more than just a compliance function. In the ever-changing risk environment we live in today, risk management also serves to add value to the company. After conducting their Global Governance, Risk and Compliance Survey, EY published a white paper with a three-step approach to risk management.

Sep 1, 2015

Integrating Sustainability with Enterprise Risk Management

Sustainability policies have a meaningful role in managing risk, and can also promote faster growth. Have you ever heard the saying ‘you have to spend money to make money?’ This remains true for investments in sustainability and risk management - yes, investing money in sustainability and risk management will more than pay for itself. A white paper authored by James Lam and Frances Quinn and published by Workiva highlights the role and benefits sustainability plays in enterprise risk management and explains how to successfully integrate sustainability into the risk management framework.

Jun 16, 2014

2014 Research Report on Current State of Enterprise Risk Management

The 2014 Research Report on Enterprise Risk Management provides insights from 446 executives across various industries, exploring the maturity of ERM processes in their organizations.

May 1, 2014

Understanding Risk Appetite

In order for directors to oversee risk management effectively, there must be a clear understanding of what constitutes the organization’s risk appetite. The concept of a risk appetite is fairly new and can be a bit confusing. A recent thought paper by PricewaterhouseCoopers (PwC) seeks to explain risk appetite in “plain English.” The thought paper defines risk appetite, describes how to develop a risk appetite statement, and explains the oversight role of the board in the development of the risk appetite process

Apr 1, 2014

How Global Changes Can Affect the Business Environment

As organizations develop their strategic plans, their horizons are often only looking out over the next two-to-three years. While staying focused on the “here and now” is important, failure to look at broader trends of how the world may be shifting may cause some boards and executive teams to wake up some day in the future to discover their strategies are no longer viable. To help organizations consider how shifts may be on the horizon, PricewaterhouseCoopers (PwC) has recently published information about five megatrends that are already changing the business environment. A megatrend is a change on a global scale that is often verified with factual data. In the past few years PwC has noticed that its clients are identifying and changing their strategies because of these megatrends. This article explains each of the five megatrends identified and then highlights possible effects of each trend.

Jan 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 - in risk oversight. Scrutiny has increased from regulators and other key stakeholders calling on boards to ensure their risk oversight efforts are strengthened. A recent Deloitte thought paper offers six recommendations that boards may want to consider to strengthen the board's overall risk intelligence.