The majority of articles on my blog focus on the process side of enterprise risk management. I’ve discussed at great length subjects like setting up an ERM program, risk identification, risk assessment, and more. However, the process and technical skills is only part of what goes into a successful, value-enhancing ERM program. If you’re like…
I cannot tell you how many times someone has asked me questions about random parts of an ERM program. The discussions range from basic concepts all the way to advanced topics. What is prompting the jumping between topics? It is typically these two things: Someone looked up ERM and saw some aspects, which looked really…
Resources – whether they are time, financial, human, or natural – are limited. You only have so many hours in the day or only so much money, which is why all of us prioritize our activities for the day or how much money to spend. The same process we subtly do each day is definitely…
As part of your daily life, you drive a car, walk down the street, ride in elevators, go swimming, have children. Correct? You live your life. Well, you are accepting risk in all of those things. In fact, having a home or renting an apartment also entails risk…fire, wind damage, snow or ice, tornado, earthquake,…
In both my experience and according to a white paper from PwC, a common ERM challenge is how an annual risk review becomes a check-the-box activity. It shouldn’t be this way… Regardless of the reasons, everyone from executives all the way down to entry-level managers and employees have enough “bureaucratic” burdens as it is. An…
In order to have a risk management effort that ultimately “creates, protects, and enhances shareholder value,” you must first have a successful risk identification process. I’ve said it many times, and have heard it repeated elsewhere, that risk identification serves as the foundation for the entire risk management process…without it, the entire process is just…
Now that some of the heat has died down on this topic, I thought it would be a good time to discuss observations about GDPR from an ERM perspective. Last month, the General Data Privacy Regulation from the EU was a hot topic. You undoubtedly received emails from your subscriptions and apps explaining that new…
When it comes to enterprise risk management, I have struggled with ways to engage management. After all, it is not like ERM is an exciting topic…at least for most people. Me, I love talking about ERM! Most executives or mid-level management focus their days on what they specialize in, whether it is finance, marketing, information…
A large (~5£ billion) publicly traded construction company, Carillion, collapsed earlier this year after months of ignored financial warnings. In fact, because of the size of the organization and how this all went down, the UK Parliament conducted an in-depth investigation into the collapse. The report of the Parliament investigation is quite interesting. It starts…
Ford’s popular F-150 pickup is something I’m well familiar with. My husband has owned one for nearly 20 years and spent what seemed like an eternity searching for his newer one a few years ago. He says he doesn’t plan on buying another one in the future, but I’ll believe it when I see it….