enterprise risk management

Fewer Companies Realize Strategic Benefit from Risk Management Activities

Every spring, NC State’s ERM Initiative in partnership with the AICPA releases their State of Risk Oversight report. Data for the report is obtained through a survey sent to senior executives across a variety of industries this past fall. For this year’s report, 563 surveys were completed, which is a significant increase over prior years.…
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Why Reactive Decision-Making Can Be Devastating and How to Improve It

In response to the coronavirus pandemic, companies are having to make hard choices on how to survive and thrive through this uncertain time. Instead of taking time to consider potential impacts of their options, too many companies are taking a very reactive approach to their decision-making. The book Decision Quality: Value Creation from Better Business…
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Why your Company Must Not Abandon ERM in These Trying Times

Wherever you are in the world, I hope this post finds you healthy and well in this difficult time. The COVID-19 pandemic is something most if not all of us have ever faced before. Before jumping into today’s post, a quick update on how my family and I are doing… Here in Florida, the number…
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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…
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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…
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Why A Strong Governance Foundation is Vital to Successful ERM

When first speaking to an organization about ERM, executives know they have a problem, but they usually don’t know what it is, much less how to fix it. All they know is ERM is a possible solution. But before jumping in, I often find trouble spots that need to be addressed first. If they are…
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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,…
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ERM at Thanksgiving – An Illustration of Risk Management in Action

It’s Thanksgiving week in the U.S. – the air is crisp, Fall colors abound, and there is a palatable excitement as we enter the year-end holiday season. This week’s holiday provides a great opportunity to reconnect with family and old friends and take stock of what we’re grateful for. On occasion, I like to take…
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ERM certification

Should I Pursue an ERM Certification?

This is a question I receive often, whether via the website or my LinkedIn page… Personally, I hold a Master’s degree in Risk Management/Insurance from Florida State University along with a Certified Risk Manager (CRM) designation from the National Alliance for Insurance Education & Research. But as I’ve learned, especially since becoming an ERM consultant,…
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The Future of ERM – Grooming the Next Generation

As ERM professionals, we are always looking toward the future. The core of our job is to ensure executives are making risk-informed decisions in establishing and pursuing strategic objectives. Our goal isn’t to avoid risk but to help companies take intelligent risks to ensure success. Since our profession should focus on the future, the recent…
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