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risk review

3 Ways to Avoid the Check-the-Box Trap in Risk Review

In both my experience and according to a white paper from PwC, a common ERM challenge is how an annual risk review becomes a check-the-box activity. It shouldn’t be this way… Regardless of the reasons, everyone from executives all the way down to entry-level managers and employees have enough “bureaucratic” burdens as it is. An…
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Strategic Planning vs. Annual Planning: How ERM Can be Engaged and Add Value

What is the difference between strategic planning and annual planning? Here is my way of separating the two concepts: Strategic Planning is when an organization’s leadership discusses and formally plans out the future of the organization. What goals do they have regarding market share, revenue, and customer satisfaction? With the speed of change over the…
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Crisis communications

Crisis Communications: Protecting and Saving Reputations Everywhere!

An Interview with Evan Bloom of Fortress Strategic Communications Communication is critical to the success of an organization — especially during a crisis. How well an organization communicates can help or hurt any reputation. I have previously written about how organizations can better understand their reputation risk; one of those methods is to analyze your…
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risk management resources

Top 18 Risk Management Resources for 2018

Every organization is at a different stage with their risk management practices, but regardless of where you are, you are making  plans for 2018 on how to take the next step …and trying to figure out how it all works together. Before I get into the ERM Insights by Carol resources, here are a few…
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risk terminology

Make Your Words Count: Translate Risk Terminology to Fit the Business

How many times have you presented risk information to leadership and watched them walk away with glazed eyes and no idea what was just discussed? Or worse yet, someone falls asleep like this: Okay – hopefully, it hasn’t been that bad. But speaking from experience, leaving a meeting with executives not understanding the presentation happened…
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Taking ERM to the Next Level: Adding Value to Projects and Processes

The last two weeks have been focused on how you can free up existing ERM resources, either by resource allocation or revamping your risk assessment process. Now you can allocate those resources to better understand your enterprise risks and to create action plans and lower high risks to acceptable levels. Once you’ve completed those activities,…
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Improve reputation risk oversight to survive the close scrutiny.

4 Ways to Survive Reputation Scrutiny and Improve Reputation Risk Oversight

I’ve been pondering reputation risk a lot lately, especially when I consider that around 75% of a company’s market value today is tied to intangible assets like reputation. Every organization is under scrutiny every day, and reputations are at stake. How well are companies and non-profits managing their reputation risk? What kind of reputation risk…
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5 Ways to Better Understand and Quantify Reputation Risk

As the person representing ERM at your organization, reputation risk is likely at the top of the list of concerns. You bring it up frequently with people across the organization and have tried to figure out how in the world to include it in your risk assessments. I know…because I struggled with this same thing.…
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ERM and Internal Audit: The Right Relationship

There is much discussion and debate about how Internal Audit and Enterprise Risk Management (ERM) should be connected. Some say ERM can be embedded within the internal audit group. I don’t fall in this group. Internal audit standards say that internal auditors should be objective and not unduly influenced. In other words, independent. I have…
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Building a Risk Intelligence Network

No risk manager knows everything. And if you think you do, then this may be a reality check for you. Regardless of how long you have been in the risk management profession, you have built up a network of fellow practitioners – people you can contact when you have questions or challenges. But have you…
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