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Poole College of Management
Enterprise Risk Management Initiative

ERM Leadership and Governance

Mar 1, 2009

Audit Committee Member Survey

Audit committee members express concerns about risk management during the financial crisis, with calls for greater oversight, enhanced meeting efficiency, and better information flow to address critical business risks.

Mar 1, 2009

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 to address current weaknesses and strengthen risk management systems. By wielding appropriate authority, gaining support from senior management, and thoroughly examining the models and incentive systems used, risk managers can greatly improve companies' risk management systems.

Mar 1, 2009

Key Areas of Concern in Corporate Governance

Strong corporate governance is essential for boards as they are positioned to lead the way in implementing measures that contribute to economic growth and sustainability. There are four areas of corporate governance the National Association of Corporate Directors (NACD) has identified as being the most important and of immediate concern: risk oversight, corporate strategy, executive compensation, and transparency. Within each area of concern, the NACD provides recommendations from their Key Agreed Principles to Strengthen Corporate Governance for U.S. Publicly Traded Companies document as well as addresses future challenges boards will face in improving governance practices in each area.

Jan 1, 2009

Global Risk Management Survey

Deloitte’s survey on global financial institutions explores the evolving role of risk management, from board oversight and CRO responsibilities to ERM adoption, emerging risks, and the future of risk management technology.

Dec 1, 2008

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.

Dec 1, 2008

S&P’s ERM Reviews for Non-Financial Issuers – Where Do We Stand?

S&P’s credit reviews now assess ERM practices in nonfinancial companies. This AICPA brief details how S&P evaluates risk culture and strategic data use in its credit rating process. Discover the new ERM criteria.

Oct 1, 2008

Using Six Sigma Techniques to Improve ERM Systems

Discover how Six Sigma methodologies can improve ERM processes, helping internal auditors address upside and downside risks while creating stakeholder value through data-driven solutions and risk management strategies.

Sep 30, 2008

The Audit Committee Journey: Charting Gains, Gaps, and Oversight Priorities

KPMG’s report reveals audit committees are improving in traditional financial oversight but face challenges in areas like IT risk and overall risk management. Explore the top oversight priorities and where improvements are needed for 2008.

Sep 30, 2008

The Changing Role of the Finance Organization

Discover how finance organizations tackle global risks through shared services, integrated ERM, and enterprise performance management, based on findings from over 350 finance executives worldwide.

Sep 1, 2008

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 management: 1. Identify and understand your major risks; 2. Decide which risks are natural; 3. Determine your capacity and appetite for risk; 4. Embed risk in all decisions and processes; and 5. Align governance and organization around risk.