ERM Fundamentals

Top 21 Risk Management (…and Other) Resources for 2021

Happy New Year!! As of this writing, the year 2020 is officially in the rearview mirror. Suffice it to say that between the COVID pandemic, a contentious election year here in the U.S., a record-breaking hurricane season, and other challenges, we are all glad to bid the past year farewell. Personally, the year had its…
Read More

Building a Performance-Focused Risk Management Process Step #2: Identifying Need

Early this summer, I shared an article discussing how important culture is to the success of a company’s risk management efforts and what executives can begin doing immediately to change it. The article originally appeared in The Demotech Difference, a journal targeting midsize property & casualty insurance firms. Today’s post explores the second step in…
Read More

3 Easy to Use Tips to Understanding Why Executives Want ERM

Any endeavor, whether it is personal or in business, has a reason or motivation for its pursuit. Take exercise for example… If you’ve ever hit the gym, taken a Zumba class, or worked with a trainer, there was an underlying motivation. Example motivations are a desire to lose weight, build strength, build endurance so you…
Read More

Will the Wells Fargo Settlement Actually Result in Change?

In some of my prior articles on reputation and positive risk culture, I’ve sometimes referred to the ongoing Wells Fargo saga. From 2002 until coming to light in 2016, the company engaged in a variety of fraudulent activities. Unrealistic sales targets aggressively pushed by leadership led many employees to create thousands of bogus accounts. The…
Read More

7 Tips for Reducing Business Continuity Risk for ERM

Here’s a situation that is all too common… A company hires a new director for ERM. This person’s job is to design and implement an ERM process for helping executives make risk-informed decisions and understand threats and opportunities to achieving strategic objectives. At some point, this ERM Director decides to leave the company and the…
Read More

Real-Life Example of Robust Enterprise Risk Management

Today we have a special guest – Hans Læssøe. As you may know, Hans’ perspective is something I reference often here on the blog. We finally got a chance to catch up! In this interview, Hans and I discuss his background, what led his former company, LEGO, to adopt ERM, and a few factors key…
Read More

Top 20 Risk Management (…and Other) Resources for 2020

It’s hard to believe that a new decade is now upon us. The 2010s were an exhilarating time for me both personally and professionally… It was a decade ago when I assumed the role of building an ERM program from the ground up for a large Florida property insurance company. That experience led me to…
Read More

ERM May Be Simple to Understand but It’s Not Easy

One name you see me refer to often is Hans Læssøe, author of the book Prepare to Dare, and former strategic risk manager for The LEGO Group. Hans is currently a consultant based in Denmark. Not only do I admire LEGO for its stellar assortment of models that both my son and I enjoy building,…
Read More