risk owners

3 Steps to Ensuring Risk Owners Ultimately Fulfill Their Obligations

It’s all too common…we ask someone to help with something just to be disappointed later. It’s frustrating…believe me I know. When it comes to managing risks and opportunities, we assign an “owner” to manage the day-to-day and ensure someone is responsible for the risk (and oversee the mitigation activities). As I discuss in this article…
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Auditing your BCP and DR Program – Just How Resilient is your Organization?

This week’s article was provided by long-time auditor and IT expert Dan Swanson. See: Auditing your BCP and DR Program – Just How Resilient is your Organization? Why would I be sharing an article on business continuity planning (BCP) and disaster recovery (DR) you may ask? When companies were forced to abruptly shift to remote…
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29 Biases and Traps that Prevent Good Decision-Making

It seems like bias is everywhere in our world… Some bias is healthy and normal. We may have a bias for or against a certain sports team or those of us who are parents will naturally be biased toward our children. But when it comes to decision-making in our organizations, bias can lead to putting…
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technology risk

Is Technology Risk Bigger Than “Cyber” Risk?

It’s not an earth-shattering thing to say that news of hacks, data breaches, and other technology hiccups has grown exponentially in recent years. Between January and September 2019, 7.9 billion records were exposed, marking a 33% increase from the same period in 2018. A few of last year’s data breaches include: An error in pharmacy…
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Will Inflation be a Gray-Rhino in 2021?

Soon after COVID-19 began affecting the U.S. last March, I spotted a brief article on LinkedIn from Hans Læssøe explaining how the pandemic was not a “black swan” event as some were saying but rather a “gray-rhino.” As you may know, a “black swan” is an unforeseen, improbable event, be it positive or negative, which…
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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…
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Building the Better Insurance Consumer for 2021

With the upcoming Christmas holiday, we’re hastily working to wrap up (literally!!) a few loose ends, so this week’s post is a little different… I recently had the pleasure of appearing on the Florida Insurance Roundup podcast to discuss the qualities both consumers and industry professionals must have in order to get the most out…
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visual aids

Harnessing the Power of Visual Aids to Prompt Robust Risk Conversations

There’s a good chance – 65% in fact – that you are a visual learner. I personally put myself in this category. Rather than reading text or listening to instructions, I always perform better and remember more through visual aids, especially on a subject I’m not familiar with. Numerous research studies back up my personal…
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ERM best practices

Why Following ERM Best Practices Can Do More Harm than Good

Woven into many of my posts from the last 4+ years is the advice that ERM best practices should be approached with caution. While the updated COSO and ISO 31000 standards can be great starting points for some organizations, simply copying another organization’s policies and practices comes with many drawbacks that will eventually become painful.…
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What a Calm Act of Heroism Can Teach Us about Risk Management

I remember the day well… I was in my office on a cold and blustery January day when news came of a plane crash in New York City, but unlike other crashes in times past, there were few injuries and no fatalities. Later dubbed the “Miracle on the Hudson,” the events of that day were…
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