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Improve ERM Engagement with This One Subtle Shift

In a perfect world, business units and executives would be flocking to the ERM professional to find solutions to vexing problems facing the organization. Unfortunately, this rarely happens. In a 2018 survey, lack of engagement and executive buy-in was reported as the #1 challenge to implementing ERM effectively. To put it plainly – without engagement…

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…

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…

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.…

8 Critically Important ERM Articles for Navigating Today’s New Reality

In this current environment, you want to make sure you are doing everything you can to ensure your company can not only weather the storm but emerge stronger on the other side. Just because many physical offices are closed doesn’t mean you should just sit on your hands waiting for things to open back up.…

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…

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…

7 Tips for Reducing Business Continuity Risk for ERM

Here’s a situation that is all too common… A company hires a new director for ERM. This person’s job is to design and implement an ERM process for helping executives make risk-informed decisions and understand threats and opportunities to achieving strategic objectives. At some point, this ERM Director decides to leave the company and the…

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…

Why Organizations Struggle with Key Risk Indicators and How to Make Them Work

If done properly, key risk indicators (KRIs) can be a valuable tool for proactively managing risks to achieving strategic objectives. As I explain in a previous article, being proactive is one of the key differences between traditional and enterprise risk management. Despite their potential for facilitating the proactive management of risk, around 70% of organizations…

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