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Poole College of Management
Enterprise Risk Management Initiative

Briefs and Insights

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 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.

Aug 7, 2008

Risk Managers Should Have Been Better Prepared

The 2008 financial crisis exposed gaps in risk management, from rating agency trust to liquidity mismanagement. Learn how better risk oversight and communication could have mitigated these issues. Read the full article here.

Jun 1, 2008

Board-Level Risk Committees

Traditionally, senior risk executives have managed risk at the operational level of organizations. Boards have had general oversight responsibilities for risk, with audit or finance committees taking on more specific risk responsibilities. Now, with the heavy workloads of audit and finance committees and a trend towards implementing enterprise risk management (ERM) processes, many organizations are finding it beneficial to form separate board-level risk management committees. The risk content of an organization is often still addressed at the board level across many committees, while risk process is the focus of the separate risk committee.

May 1, 2008

Standard & Poor’s Applies ERM Analysis to Ratings

S&P to include ERM evaluations in credit ratings for all companies in 2008. Focus areas include risk culture, strategic risk management, and senior management’s approach to risk and reward.

May 1, 2008

ERM: The Importance of Senior Management Buy-In and Leadership

The Midwest Audit Committee Network met to discuss effective ways for boards and audit committees to oversee enterprise-wide risk management. The network is a group of audit committee chairs drawn from leading Midwest companies of varying size. This article captures the overall tone of the comments and outlines the conclusions drawn by the committee. While specific quotes are highlighted to emphasize a point, the speaker’s identity is kept confidential.

Apr 1, 2008

Audit Committee Oversight of Enterprise Risk Management

Boards and audit committees are facing rising expectations to manage both near-term and strategic risks, with key roles played by CFOs and internal audit in enterprise risk management.

Apr 1, 2008

Risk Appetite: A multifaceted approach to risk management

IBM’s survey examines the integration of risk appetite in financial institutions, revealing challenges in aligning risk management with business strategy, capital allocation, and data quality. Discover recommendations for enhancing risk management across organizations.

Apr 1, 2008

The New Treasury Diet: Keep It Simple

Discover how losses in auction-rate securities have reshaped treasurers' investment strategies, leading many to shift to money market funds and reassess their approach to managing liquidity.

Mar 16, 2008

We Will Never Have a Perfect Model of Risk

Greenspan reflects on the housing market collapse, highlighting failures in financial risk models and cautioning against over-regulation as the global banking and risk management systems face major overhauls.