ERM governance

Taking a Growth Pause: Preparing for Long-Term Success

For this week’s post, I would like to share a guest article published in Carrier Management, a quarterly journal targeting P&C insurance executives. Like previous guest editorials, this article was written with a specific industry in mind, but the contents are applicable to any organization. When a company is in its infancy, the main focus…
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ERM in the Spotlight

In times of great upheaval for industries or financial markets, organizations often turn to the formal discipline of enterprise risk management. After the 9/11 terrorist attacks and the 2008 financial crisis, for example, ERM gained traction as many organizations realized the significant drawbacks of a traditional siloed risk management approach. But widespread ERM adoption remains…
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risk controls

An Easier Way to Understand the Effectiveness of Risk Controls

KRIs, KPIs, ORSA, ISO, COSO…risk controls, risk owners, risk appetite. The acronyms, the alphabet soup, oh my! To anyone with little to no experience, risk management jargon can be dizzying and confusing, especially to executives who are often deluged with risk registers, reports, and processes that are overwhelming and not helpful for managing the organization…
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4 Considerations for Building Effective ERM Presentations

No doubt you’ve attended presentations that were unengaging and downright boring. You were glad they were over, but also upset that the last 1-2 hours of your life were a waste. Being on the other side can be even more frustrating, even demoralizing… You spend hours developing an extensive 30 (or even 50!)-slide PowerPoint presentation.…
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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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enterprise list management

How Regulators Perpetuate Enterprise “List” Management

As a former regulator of property & casualty insurance companies in Florida, I can appreciate the importance of some regulation of certain companies. After all, you don’t want to find out after a hurricane that your insurance carrier is insolvent. Risk management related regulations like ORSA for insurance companies, Basel III for banks, and some…
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ERM framework

ERM Framework vs. ERM Process – Understanding the Difference

In the vast arsenal of materials discussing enterprise risk management, words are thrown around that may be unclear to novice risk professionals or executives unfamiliar with ERM. While I intuitively know the difference between an ERM framework and process, the random use of these terms can lead to confusion for some. If you’ve read my…
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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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