ERM Initiative Staff

Jun 1, 2012

Preparing for a Corporate Crisis Before Significant Risks Materialize

Learn the five essential steps for crisis management and how boards can oversee corporate efforts to plan, respond, and maintain resilience during challenging situations.

Jun 1, 2012

Executives Take on Enterprise Risk Management Post- Recent Crisis

Deloitte’s survey highlights ERM transformations, emphasizing strategic risk management, continuous monitoring, and C-suite accountability. Learn strategies to connect risk management with organizational goals for growth and resilience.

Jun 1, 2012

Super Bowl Embraced ERM

The 2012 Super Bowl leveraged ERM principles to tackle event-specific risks. Learn how the Host Committee managed reputational and operational risks, emphasizing comprehensive response strategies and the importance of an enterprise-wide view.

Jun 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 to the notion that risk appetite reflects a short term risk philosophy of the company, and the frequency of which risk appetite is viewed as being congruent with risk tolerance. The authors of this Protiviti white paper discuss the importance of developing and maintaining a risk appetite statement as well as using it to spur conversation between management and the board of directors in the governance process.

Jun 1, 2012

Categorizing Risks for More Effective Risk Management

Organizations often employ a rules-based model to manage risk; however history suggests that such an approach may not be an effective way to manage all types of risk. This Harvard Business Review article provides a framework for thinking about risk management that is centered on breaking an organization’s risks into three categories. The authors demonstrate, through real-world examples, how each category of risk is best managed through certain types of risk management mechanisms. Each of these mechanisms plays a role in strengthening the organization’s overall risk management function.

May 17, 2012

Sustainability: Considerations that Can’t be Ignored from a Strategic Perspective

Sustainability is becoming a strategic priority for businesses worldwide. An MIT Sloan and BCG report highlights how top companies, called "Harvesters," are leveraging sustainability to drive profitability and innovation while managing risks.

May 15, 2012

Allegations of Risk Management Overrides Swirl at JPMorgan Chase

JPMorgan's $2 billion loss underscores the importance of risk management and culture, as executives face scrutiny for sidelining risk concerns.

May 1, 2012

S&P’s Preliminary Changes for Scoring Management and Governance for Credit Rating Purposes

S&P introduces proposed criteria for scoring management and governance in credit ratings, assessing strategic, risk, and governance factors. Learn about the four key factors influencing these scores and their impact on creditworthiness.

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. The article "Risky Management" in Disaster Recovery Journal highlights the realities of how management's attitude and embrace of risk management approaches can undermine the organization's effectiveness at managing key risk events. Although many executives understand that risk management benefits everyone, not all share this view. The article outlines three categories of management that have a negative effect on an enterprise's risk management strategies: management that ignores reasoned words, management that works against others' efforts and management that is nonexistent in the execution of a plan.

May 1, 2012

Managing Levels of Innovation Risk

The highly competitive landscape and the rapid pace of change means organizations must continually seek to innovate to survive and grow. For many, their rush to get new innovations to market overlooks critical risks that threaten the success of those initiatives. More organizations are seeing first-hand how difficult of a task it is to mitigate innovation risk. The Harvard Business Review (HBR) article "Managing Your Innovation Portfolio" highlights how organizations can, through the balance of diversifying and appropriately focusing efforts within their innovation portfolios, achieve higher returns over their long-term innovation investments. The authors of this article discuss issues dealing with managing innovation and ways to initially guide management.