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Poole College of Management
Enterprise Risk Management Initiative

Operational Risk

Sep 21, 2021

Is Your Company’s Knowledge Walking Out the Door with Your Retirees?

A conversation about the risk of knowledge loss often is centered around a technology concern evoking thoughts of cyber breaches that release proprietary information, an operational matter considering outsourcing or the one that I will discuss, a people or talent discussion. This article discusses how knowledge loss from employee attrition can be reduced through effective knowledge management and knowledge transfer practices.

Aug 31, 2021

Mitigating Supply Chain Disruptions and Building Resilience

Global supply chains are larger and more complex than ever. At the same time disruptions that affect supply chains have grown more frequent and severe, exposing vulnerabilities. Companies and policy makers are reconsidering how to assess, analyze and mitigate risk exposure to bolster supply chain resiliency to shocks like financial crises, terrorism, extreme weather and pandemics. McKinsey Global Institute's (MGI's) report, Risk, Resiliency, and Rebalancing in Global Value Chains, explores factors leading to global supply chain risk, financial implications of shocks and guidance for building supply chain resiliency. Check out this summary of the key findings.

Mar 4, 2020

Using ERM to Navigate Coronavirus and Other Pandemic Risk Events

Discover how ERM processes help organizations manage risks associated with events like the coronavirus. Mark Beasley shares key steps to mitigate the impact of this evolving global crisis.

Sep 9, 2019

Take the Top Risk Survey for 2020

Contribute to NC State and Protiviti’s 2020 Emerging Risks Survey. Share your thoughts on key risks across industries, and receive a complimentary report with the aggregated results in December 2019.

Jul 30, 2019

A Global Outlook: 2019 Risk Report

The 2019 Global Risk Report delves into five key risk themes: economic vulnerabilities, geopolitical tensions, societal strains, environmental fragilities, and technological instabilities. It provides insights into evolving global risks, including the transformation of biological risks and strategies for managing rising sea levels, while also considering the psychological impact of these risks on human society.

Jan 29, 2019

Risk Management with Third-Party Suppliers

Discover how financial institutions manage third-party risks under increasing regulatory scrutiny. Learn about McKinsey’s six-element approach for risk segmentation, due diligence, governance, and effective management reporting to mitigate operational and reputational risks.

Sep 4, 2018

Risk Assessment from COSO’s Perspective

Learn how COSO's risk assessment framework helps organizations manage risks effectively. Explore the key steps: developing assessment criteria, evaluating risk interactions, and prioritizing risks to align with strategic goals and enhance value creation.

Jun 26, 2018

The Relationship between Internal Controls, ERM, and the Business Model

COSO's Improving Organizational Performance and Governance discusses how COSO's Internal Control Integrated Framework and COSO's ERM Integrated Framework relate to the standard business model. The frameworks can contribute to an organization's long-term success. The key takeaway is that good risk management and internal control are necessary for the long term success of all organizations. Improving organizational performance and governance will support this goal.

Jun 26, 2018

The Age of Cloud Computing

Cloud computing delivers benefits like cost savings and scalability but also introduces new risks. Using COSO’s ERM framework, companies can identify and mitigate risks such as lack of transparency, security concerns, and vendor lock-in.

Jun 26, 2018

COSO’s Take on the Three Lines of Defense

As risks begin to threaten the achievement of company objectives, senior management must determine the appropriate way to respond. Responsibilities and duties must be clearly identified so individuals are aware of their roles in addressing these risks and controls. COSO developed the three lines of defense model that addresses how specific duties related to risks and controls could be assigned and coordinated within the organization to alleviate the threat. Ultimately, the model is designed to ensure individuals within each line of defense are aware of their full responsibilities and how these responsibilities fit into the organization's overall risk and control structure.