Filtered Results

Jun 1, 2009

Balancing Enterprise Risk Management and Enterprise Performance Management

This paper examines how poorly executed risk management contributed to the economic collapse and suggests integrating risk and performance management to balance prevention and value generation for long-term organizational success.

May 31, 2009

Reputation Management

Jay Stuller highlights how reputational management is more complex than ever, with constant scrutiny and decreasing trust in businesses. Learn strategies for managing reputational risk and maintaining stakeholder trust in today's evolving landscape.

May 1, 2009

Seven Question Guide to Assessing Your Enterprise Risk Management Practices

Risk professionals should consider seven questions in evaluating risk management tools, improving risk management practices, and assessing the state of ERM in an organization. Professionals should ask these seven questions: (1) if the risk management process really assesses risk; (2) if the risk assessment is context-driven; (3) if the risk management process address root causes of failure; (4) what business performance says about risk; (5) what the organization's risks say about its controls; (6) what the organization's controls say about its risks; and (7) if the professionals and their organizations are up for the task of risk management.

May 1, 2009

Increasing Oversight by Audit Committees

Post-financial crisis, audit committees are prioritizing enhanced risk oversight, quality information, and stronger connections with management to improve corporate governance and create shareholder value.

Apr 15, 2009

Importance of Risk Management Mindset

Many companies that were unprepared for the current economic situation have become hesitant to make decisions regarding the future. For companies to regain confidence in making these decisions there needs to be a realization that risk management models are only as good as the decisions that are made based on the models. As a result, the risk management mindset is just as important as the model. Companies can focus on their risk management mindset by re-defining risk to include a more integrated view of risk and constructing a new "risk architecture" that incorporates information external to the company and looks at interdependencies to help make better decisions and more successfully manage their risks.

Apr 15, 2009

Risk Culture of Companies

Risk culture is an area of risk management that has become a recent focus for many boards. Risk culture is the system of values and behaviors present in an organization that shapes risk decisions of management and employees. A first step to addressing the risk culture of an organization is a conversation among management and the board involving topics such as "tone at the top" effective communication, and appropriate incentives. A strong risk culture will take time to develop in an organization and its presence will mean that employees know what a company stands for, the boundaries within which it can operate, and that they can openly discuss which risks should be taken in order to achieve the company's long-term strategic goals.

Mar 31, 2009

Effects of Economic Crisis on Corporate Governance

The economic crisis has reshaped corporate governance, pushing boards to enhance oversight, redefine roles, and focus on long-term sustainability. Learn how risk management and strategic decision-making are transforming governance.

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.

Mar 1, 2009

Six Ways Companies Mismanage Risk

René M. Stulz identifies six ways risk management can fail, from relying on historical data to poor communication. Learn how organizations can improve their risk management strategies and avoid costly pitfalls.