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Poole College of Management
Enterprise Risk Management Initiative

Board Risk Oversight

Sep 11, 2017

COSO Revises Its ERM Framework

COSO's 2017 Updated ERM Framework Guidance

Rich Muzikar

Feb 23, 2017

Importance of Key Risk Indicators (KRIs)

Richard (“Rich”) G. Muzikar, Director, Enterprise Risk Management at ConEdison, talks about his organization's use of Key Risk Indicators (KRIs). 
Keith Cureton and Mark Beasley

Nov 21, 2016

​Using Risk Profile Summaries to Oversee Top Risks

Keith Cureton, Vice President of Global Compliance and Ethics at UPS discusses how UPS communicates risk information to senior management and the board of directors.

Sep 22, 2016

Case Studies on Key Risk Indicators

NC State's ERM Initiative is pleased to release a thought paper, Key Risk Reporting and Key Risk Indicators, that highlights three case study illustrations of how organizations have developed effective processes for reporting risk information. These case studies are based on real life examples of how companies have addressed the need for effective risk measures.

Dec 10, 2015

Reporting Key Risk Information to the Board of Directors

The new thought paper on reporting key risk information to the Board of Directors highlights common practices used within organizations to communicate risk information.

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.

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

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.

Jan 1, 2012

Risk Committees

While most often the board of directors delegates risk oversight to the audit committee, increasingly boards of creating separate board level risk committees charged with that responsibility. This is particularly true for financial services firms, given requirements imposed by the Dodd-Frank legislation for larger banks to form separate risk committees. In an effort to assist companies who are considering the establishment of a board risk committee, Deloitte has organized a resource guide of ideas, recommendations, and specific tools. This resource will help assist those entities that will need to be in compliance with the Federal Reserve’s requirements developed to implement the provisions of Dodd-Frank. Although the guide is helpful for companies that must comply with the new Dodd-Frank regulations, it can be useful for any company that wishes to obtain more information on risk governance and oversight.