Carol Williams, Author at Carol Williams

Carol Williams

84 posts

https://www.erminsightsbycarol.com

7 Questions for Understanding the Fundamentals of Risk Appetite

The concept of risk appetite is probably the most confusing and controversial part of the enterprise risk management process. If you do a search for risk appetite, you will find a wide variety of perspectives on how to develop and use it. While there may be an implied risk appetite or a generic statement on…

Disjointed vs. Embedding in Culture and Mindset – A Key Difference Between Traditional Risk Management and ERM

One of the big differences between traditional risk management and ERM is the role risk plays in the organization. I briefly discussed this point at a high-level in my popular article linked above. And while the point of disjointed vs. embedded in culture and mindset is connected to other differences mentioned in the article, the…

How to Ensure Risks to Initiatives are Being Considered Alongside Objectives

A reader sent me a question about identifying risks to initiatives… More specifically, the reader wanted to know how she could ensure that risk identification focused on objectives doesn’t lose sight of risks that may be associated with initiatives. Before going any further, I want to provide a couple of quick definitions: Objectives – a…

Top 19 Risk Management Resources for 2019

This time last year, I wrote a well-received article providing my favorite 18 risk management resources. Well, it is time to provide a new list of 19 resources as you start making progress towards achieving your 2019 goals for risk management. Over the recent months, I have really focused on expanding my skills outside of…

The Ultimate Primer for Effective Risk Reporting

A mechanism for ensuring leadership, business managers, and other stakeholders make risk-informed decisions and fulfill oversight duties At the end of the day, the ERM process should be regarded as a cycle or feedback loop…meaning, there’s never a definitive end point. It’s like the four seasons of the year – there’s never an end point,…

ERM Implementation: What Risk Professionals Consider the #1 Challenge To Be

Podcast: Play in new window | DownloadI recently asked of fellow risk professionals “what is your single biggest challenge when it comes to ERM implementation?” What do you think the answers were? Maybe figuring out how to assess risks? Maybe integrating with strategy? Or aggregation of risks? Nope. Tone at the top! Yes, the executives…

When Organizational Culture Fails….

Podcast: Play in new window | DownloadA recent Business Insider article on Uber’s self-driving car incident goes in-depth into the culture of the company. Uber has been going through changes for over a year, beginning with the CEO being fired in 2017 amid charges of sexual harassment claims throughout the company. Uber has been focused…

Risk Reduction – A Response Strategy for Decreasing the Impact of Potential Risk Events

Podcast: Play in new window | DownloadIf the popularity of my article from early 2017 outlining risk response strategies is any indication, organizations spend a lot of time thinking about the best way to address a particular risk. This popularity is the reason why I want to give risk professionals a more thorough understanding of…

Explaining the Why of Enterprise Risk Management

During the North Carolina State University’s ERM Roundtable Summit this fall, one of the topics of conversation focused on how to involve more people from across the organization in ERM. During this discussion, we were all asked, “how many of you have talked extensively about ‘what ERM is’ and explained ‘we are conducting surveys, interviews,…

Traditional vs. ERM – Going Beyond Managing Risks One at a Time

When I first began my blog, the first big topic I explored was the difference between traditional and enterprise risk management. In the traditional vs. ERM article (one of the most popular articles of all time), I outlined eight ways that separate each of these concepts. Today, I want to dive a bit deeper on…

Posts by Carol Williams