ERM on a budget

ERM on a Budget: It is Possible! – 7 Key Considerations

When I started my consulting firm in August 2016, I knew I wanted to help organizations perform better by using enterprise risk management (ERM) instead of just traditional risk management. After all, I know how well ERM can work when done right and how much the organization can benefit from it. But as a start-up,…
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KRI system

3 Steps to Building an Effective KRI System Today

If your executives and managers love metrics, then they’re sure to use Key Performance Indicators (KPIs). Even if they don’t like numbers, any smart executive will be reviewing their KPIs dashboard. These historical measures are designed to gauge performance to ensure goals and milestones are being met. As risk professionals, though, we know the value…
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Strategic Planning vs. Annual Planning: How ERM Can be Engaged and Add Value

What is the difference between strategic planning and annual planning? Here is my way of separating the two concepts: Strategic Planning is when an organization’s leadership discusses and formally plans out the future of the organization. What goals do they have regarding market share, revenue, and customer satisfaction? With the speed of change over the…
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3 Ways to Mature your ERM Program and Why They’re All Bad

In a nutshell, ERM can be a powerful tool for ensuring executives are making risk-informed decisions and limited resources are being used in the most efficient manner. Unfortunately, this isn’t something you can simply wish for and it’s done. Getting an ERM program to this point requires time and LOTS of patience and diligence. There’s…
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Crisis communications

Crisis Communications: Protecting and Saving Reputations Everywhere!

An Interview with Evan Bloom of Fortress Strategic Communications Communication is critical to the success of an organization — especially during a crisis. How well an organization communicates can help or hurt any reputation. I have previously written about how organizations can better understand their reputation risk; one of those methods is to analyze your…
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team player

The Ultimate Guide to Being a Team Player or Not During Meetings

Every new year ushers in a season of planning and activity, and that translates into more meetings. We have two choices: make the most of them and add value OR be a total pain in the neck to everyone else. For those of you who think meetings are a waste of time, we’ve compiled a…
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operational risk management

Integrating Strategic Risk Management and Operational Risk Management

Most organizations, if not all, have some level of operational risk management. For example, some organizations are focused on operational risk related to safety or contract oversight of vendors. But a common view of operational risk management is slightly broader by examining risks associated with the actual daily operations of the organization. Examples include understanding…
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risk management resources

Top 18 Risk Management Resources for 2018

Every organization is at a different stage with their risk management practices, but regardless of where you are, you are making  plans for 2018 on how to take the next step …and trying to figure out how it all works together. Before I get into the ERM Insights by Carol resources, here are a few…
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risk terminology

Make Your Words Count: Translate Risk Terminology to Fit the Business

How many times have you presented risk information to leadership and watched them walk away with glazed eyes and no idea what was just discussed? Or worse yet, someone falls asleep like this: Okay – hopefully, it hasn’t been that bad. But speaking from experience, leaving a meeting with executives not understanding the presentation happened…
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Taking ERM to the Next Level: Adding Value to Projects and Processes

The last two weeks have been focused on how you can free up existing ERM resources, either by resource allocation or revamping your risk assessment process. Now you can allocate those resources to better understand your enterprise risks and to create action plans and lower high risks to acceptable levels. Once you’ve completed those activities,…
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