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ERM Fundamentals

Oct 3, 2019

Revamping ERM: How Seven Companies Improved ERM Effectiveness

This case study looks in depth at how seven different organizations have made changes to their approach to ERM to increase engagement in risk management activities from leaders across the organization and to facilitate more risk intelligent decision-making.

Jul 31, 2019

Endpoint Security Risks

Cyber security is an ever-changing risk with continuing innovation of new technologies. As new technologies develop, cyber-attacks evolve with the times. This results in organizations having a difficult time securing their endpoints and incurring substantial costs for each successful cyber-attack (an endpoint device is an internet-capable computer hardware device such as desktop computers, laptops, smartphones, tablets, and printers). This article focuses on a survey that was conducted to find how endpoint security is breaking down and what these organizations are doing to correct the issues.

Jul 30, 2019

Creating Value from Risk

Are senior executives and organizational stakeholders placing too much confidence in their organization’s risk management capabilities? Deloitte recently surveyed board members and the C-suite to find out how capable these organizations are at integrating risk management within their pursuit of value creation. Deloitte’s main findings point to major overconfidence that should be taken as a warning sign: many stakeholders are likely overstating their risk awareness and capabilities.

Bonnie Hancock and Steve Zawoyski

Jun 11, 2019

Emerging Trends in ERM

Steve Zawoyski, Partner and Head of the Enterprise Risk Management Capability Practice at PWC talks about trends he is seeing with clients’ ERM practices.

Apr 2, 2019

2019 The State of Risk Oversight:  An Overview of Enterprise Risk Management Practices – 10th Edition

While most executives perceive that uncertainties in the business environment are leading to more complex risk challenges for their organizations, few executives describe their organization’s approach to risk management as mature or robust, according to a recently released study, 2019 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices. That may be changing, given the majority of organizations have external stakeholders and boards of directors who are calling for more extensive management involvement in risk oversight. Furthermore, business leaders admit that they are not at all or only minimally satisfied with the nature and extent of internal reporting of key risk indicators.

Feb 21, 2019

Are Universities & Colleges Doing Enough to Manage Reputational Risk?

In a recent survey by United Educators, it is clear that more colleges and universities than ever are implementing enterprise risk management (ERM) as a way to prepare for and respond to risks and opportunities. The question is, however, whether institutions are prepared for one of the largest emerging risks to universities and colleges: reputational risk. This article assesses ERM practices at colleges and universities, describes reputational risk factors, and provides the best practices for identifying, prioritizing, and mitigating reputational risks.

Feb 5, 2019

Recognizing the Risk Impact of an Aging Workforce

According to the Bureau of Labor Statistics in their most recent ten-year labor force and employment projections, the number of individuals aged 55 and above in the labor force will grow from 35.7 million in 2016 to 42.1 million in 2026. Organizations will experience this impact in different ways based on their size, growth, industry and historical hiring and layoffs.

Jan 29, 2019

Trends in Crisis Management & Strategies to Survive a Crisis

There is an increased emphasis on crisis management by organizations around the world as both the frequency of crises and the impact of these crises are growing. An organization should consider past crises, crisis leadership, perceived versus actual preparedness, proactive crisis management, and third party involvement. Read this article to learn more about these considerations and the current trends in crisis management.

Jan 29, 2019

Behaviors That Shape Corporate Culture

Corporate culture and the behaviors that shape them are always a hot topic amongst c-level management, journalists, consultants and employees of the organization. There is a traditional and typically accepted viewpoint that altering the mindsets of employees with fancy phrases and showcasing the desired qualities of culture will lead to behavior change due to employees’ willingness to conform to the new standards. However, corporate culture has three dimensions that affect its alignment which are symbolic reminders, keystone behaviors, and mind-sets. Contrary to popular belief, behavioral changes will have the longest lasting impact on culture.

Jan 29, 2019

Strategic Risk Transformation for Organizations

Strategic risks are important now more than ever in the economic environment we live in. Regulatory risks arise each year, along with new emerging risks from technology and innovation. That is why it is so critical for organizations to consider their strategy and how it effects their risks. This article summarizes a structured process set out by Deloitte on how to identify risks, and then implement a plan to transform your company to be protected from catastrophic events and to minimize the damage caused by these events.