Avoiding the Dreaded “Bureaucracy” in your ERM Efforts

Bureaucracy – it’s such a dreaded word by all who encounter it. When it comes to an ERM initiative though, many perceive ERM and risk management in general as another layer of bureaucracy to heap onto their to-do pile. Fortunately, it doesn’t have to be this way!! Check out my quick video explaining how you…
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Practical Steps for Preparing and Responding to Risk Events

Everyone’s afraid of something. Most people seem to be afraid of normal things, like clowns, spiders, or public speaking. But for risk managers, our greatest fear is that all of our hard work will be for nothing. The risks we worked so hard to identify, assess, and report—the known and the unknown, the black swans…
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ERM Now Formally a Factor in Credit Ratings Issued by Top Agency

Credit ratings for banks, insurance companies and publicly-traded companies are issued by one of three agencies – Standard & Poor’s (S&P), Moody’s or Fitch. Together, these firms account for 95% of credit ratings issued in the world. Although each of these firms evaluates a company’s ability to handle risks to the enterprise in one way…
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4 Ways ERM Can Add Value During the Project Lifecycle

A Risky Upgrade  Sometimes the simple projects are the ones that carry the most risk. A few years ago, a large organization undertook a project to upgrade  its HR software. Since the upgrade was to be handled as part of a renewal of an existing contract, the Sponsor and executives considered it a necessary project…
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3 Best Practices for Factoring Risk into Your Strategic Planning Process

No one enjoys strategic planning exercises. They conjure images of a stuffy room filled with executives in dark suits, stacks of paper strewn across the table, and whiteboards covered in scribble. Even in the most collaborative organizations, each executive represents his own department as he vies for the few dollars set aside for yearly projects.…
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Top 5 ERM Insights Posts You Need to Read Today

It’s hard to believe it’s been close to 9 months since I launched the ERM Insights by Carol blog. I hope you’ve been enjoying the content as much as I’ve enjoyed putting it out there. If this is your first time visiting the blog, welcome! I also want to say thank you to all of…
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5 Critical Steps to Cultivating a Positive Risk Culture

Your company keeps experiencing negative events like vendor(s) not keeping their commitments, product changes that weren’t received well, or people leaving the company in droves because they feel like their job has no meaning or they are not valued. Management doesn’t understand why these events keep happening much less how to address them; they just…
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How to Use Risk Appetite and Risk Tolerance to Guide Decisions

The goal of risk management, especially enterprise risk management (ERM), is to provide management (and the entire company) with valuable insights for risk-informed decision-making.  But day in and day out, decisions are being made that don’t reflect what is voiced in the risk appetite statement approved by executives. Growth is being stifled, and the company…
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Handling Unrealistic Expectations of Enterprise Risk Management

You have been told to put together an enterprise risk management program.  Oh, and by the way, they want X, Y, and Z in 3 months.  After picking your jaw off the floor, your head starts spinning with the impossibility of meeting those expectations.  What do you do? You think that there is only one…
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