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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…
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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,…
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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…
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Practicing ERM without a Formal ERM Program

Many of the ERM resources you encounter on my blog and elsewhere focus on elements of a formal program like developing a framework, establishing risk appetite, and more. We imply, at least indirectly, that your organization must have this formal structure in place before practicing ERM. However, this isn’t always the case… Double-take – why…
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risk owner

Why Assigning a Risk Owner is Important and How to Do It Right

Falling in the middle of the risk management cycle (after developing risk appetite and tolerance and identifying, but before assessing and analyzing risks), the organization then must identify who will “own” or be responsible for a particular risk. Although the exact definition of what a risk owner is will vary depending on the organization, it…
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personal risk

Lessons in Personal Risk Tolerance – Hurricane Michael Edition

The second article I ever wrote on this blog was on the local impact of Hurricane Hermine in 2016. And now, Tallahassee and the Florida Panhandle region is once again recovering from another hurricane, this one Hurricane Michael. Hurricane Michael reached Category 4 (winds of 130-155 mph or 209-251 km/h) shortly before landfall, making it…
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credit ratings ERM

A 5-Minute Primer on Factoring ERM into Credit Ratings for Insurance Companies

An article we published in mid-2017 gave an introduction to how credit rating agencies are factoring ERM into their ratings. For most organizations, the evaluation of ERM is simply folded into the overall review of the firm’s management and governance. Additional research and other resources (see here and here) shared with me since the original…
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risk transfer

Risk Transfer – A Response Strategy for Limiting Damage from a Negative Event

An article published in early 2017 giving a brief overview of risk response strategies has been one of my most popular…and it still resonates with risk management professionals. I’ve wanted to dive deeper into each of these risk response strategies to provide readers with a little more background on how a particular one applies to…
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