Risk-Based Strategic Decision Making

Compliance vs. Risk Focused Software – Can One System Serve two Masters?

To save time, money, or both, many of us have the tendency to re-purpose tools and processes for something they weren’t originally intended for. Depending on the circumstances, this approach sometimes works … Take, for example, a client who uses a system called Jira designed for facilitating IT help requests. With a few tweaks, this…
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Top 2022 Risks and Resources

Top 22 Risk Management (…and Other) Resources for 2022

Although this past year pales in comparison to the upheaval of 2020, it can still be summed up in one word: chaotic. Between the Great Resignation, accelerating inflation, supply chain woes, the Delta variant, and industry-specific challenges, organizations of all sizes and purposes faced incredible obstacles that were unheard of just a few short years…
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Risk Appetite

Risk Appetite: Bridging the Gap Between Two Extremes

If there’s one thing I have come to appreciate in my life, it’s how there can be so many perspectives and wildly differing opinions around a given topic, be it politics, religion, sports, or even something as inane road maintenance in a neighborhood association (don’t ask!). In the risk management world, few other topic garners…
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How to Achieve Organizational Goals with Scenario Planning

For this week’s post, I would like to share an article written for Carrier Management, a quarterly journal targeting executives in the property & casualty insurance industry. Although examples are specific to the insurance industry, the advice and insights are applicable to any organization. Whether formally documented or not, every organization is going to have…
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5 Steps to Avoiding Analysis Paralysis

Thoughtfulness is a wonderful trait and one my family and I strive for each day. In the professional setting, it’s also considered an essential leadership quality that ultimately yields better results for an organization. Individuals who process information more deeply than others can be called “sensitive strivers,” according to executive coach and author Melody Wilding…
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12 Resources to Help Guide Strategic Planning for 2022

As we near Labor Day and summer draws to a close, we’re also entering that time of year when organizations begin their strategic planning for the next calendar year. It seems that September and October are the best months for this important task since summer vacations are ending and the year-end holidays are still a…
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Risk Appetite and Risk Tolerance – Which Definitions Do You Use?

In follow up to our recent article on handling risks that exceed the company’s appetite, we would like to share this perspective from our friend Hans Læssøe on this complex and controversial topic. Hans’ article below describes how the world’s leading risk management standards, COSO and ISO 31000, have differing definitions on risk appetite and…
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