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How the Fourth Industrial Revolution will Reshape Risk Management

In the waning years of the 2010s, the term “fourth industrial revolution” is becoming a commonly heard phrase for describing the nature and pace of technological change expected to take place in the decades ahead. Other terms to describe this include cyber or digital revolution. What makes this revolution unique is that it not only…

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,…

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…

Why an Elevator Pitch is an Ineffective Tool for Selling ERM

You may understand how ERM can be a valuable tool for ensuring the organization’s success, but unless an executive has some prior positive experience with ERM, you as a risk professional are about to experience an uphill battle: convincing them to adopt ERM to help improve the way the organization performs. After all, without buy-in…

Ensuring Consulting Engagements Deliver Exceptional Value

Today I’m going to touch on the sensitive topic of consultants… When you have a problem or situation outside your organization’s internal capabilities, a consultant can be brought in to help address it. In the context of ERM, this can include everything from starting a new program, re-starting a failed program, presenting a summary of…

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…

Maximize your Impact as a Risk Professional by Developing Strategic Thinking Skills in 4 Steps

Being an effective risk professional in today’s business environment takes more than just technical knowledge of risk management techniques. If you want more info on those aspects for ERM, you can browse through my blog for a laundry list of topics, as well as various books and other online resources. But as explained in last…

Listening and Reading People – Two Underappreciated Skills Crucial to ERM Success

When you examine books and online resources about ERM (including my blog), you will find plenty of information on methods for identifying risks, assessing risks, establishing an ERM governance structure, and more. However, what often gets lost is the idea that there are other “soft” skills risk professionals must have in order for ERM to…

Don’t waste time managing risks

Risk management as a concept is undergoing changes, as most everything else. New developments and an ever-increasing speed of change adds and changes the demands for risk management- both in terms of what to do, and how to do it. The world is changing faster than ever before – and anxiety as to the speed…

3 Easy Steps to Ensure an Optimal Outcome for Enterprise Risk Management

You have been asked to meet a deadline to accomplish a given goal for enterprise risk management in your organization. What is the first thing you do? You instantly start making a list of all the necessary steps (doesn’t matter whether the list is electronic, hard-copy, or a mental list). Then you put those steps…

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