erm success

planning sessions

3 Simple Steps to Be Invited to Strategic Planning Sessions

One issue that executives, Board members, and other company leaders continue to raise in surveys and elsewhere is that ERM doesn’t provide strategic advantage or valuable insights to decision-making. Reports received by business unit and company leaders typically regurgitate a list of risks and rehash what they already know. As we discuss in this post…
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Building a Performance-Focused Risk Management Process Step #2: Identifying Need

Early this summer, I shared an article discussing how important culture is to the success of a company’s risk management efforts and what executives can begin doing immediately to change it. The article originally appeared in The Demotech Difference, a journal targeting midsize property & casualty insurance firms. Today’s post explores the second step in…
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3 Easy to Use Tips to Understanding Why Executives Want ERM

Any endeavor, whether it is personal or in business, has a reason or motivation for its pursuit. Take exercise for example… If you’ve ever hit the gym, taken a Zumba class, or worked with a trainer, there was an underlying motivation. Example motivations are a desire to lose weight, build strength, build endurance so you…
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Decision Analysis: A Structured Process for Improving Business Decisions

If you scroll through the posts on this blog, you will notice that many focus on decisions. This shouldn’t be a surprise considering that ERM is one tool for ensuring risk-informed decisions across the organization… Unfortunately, a growing number of organizations continue to report that their ERM processes do not provide a competitive advantage and…
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5 Key Personas of an Effective ERM Professional

When my blog was still pretty new, I published in early 2017 an article on the qualities of an effective ERM professional. Three years may not seem like a long time, but it is when considering how fast things are changing. Although the original article contains information that is still relevant today, I felt it…
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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 was 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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7 Tips on Conducting a Successful Risk Appetite Workshop

A few months ago, I published an article outlining how risk professionals can develop engaging presentations and workshops. In the article, I discuss how ERM presentations are more than just a report, but instead a way to engage key stakeholders. Although a risk appetite workshop was used as an example in the previous article, a…
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