risk assessment

Using an ERM Assessment Process to Understand Vendor Risks

Every organization – even my boutique consulting firm – has vendors who provide a range of products or services. These can include things as simple as Internet services and office supplies to data storage, software, and raw materials to manufacture a product, and more. Any disruptions with a vendor will inevitably spill over and impact…
Read More

Traditional vs. ERM – Going Beyond One-Dimensional Risk Assessment

Podcast: Play in new window | DownloadIn my popular article on traditional vs. enterprise risk management, one distinct difference is how traditional risk management assesses risk from only one-dimension or point-of-view. In most cases, the use of a one-dimensional view is strongly connected to insurable risks and determining the potential impact or loss from a…
Read More

7 Questions for Understanding the Fundamentals of Risk Appetite

The concept of risk appetite is probably the most confusing and controversial part of the enterprise risk management process. If you do a search for risk appetite, you will find a wide variety of perspectives on how to develop and use it. While there may be an implied risk appetite or a generic statement on…
Read More

Top Posts from the ERM Insights Blog – 2-Year Anniversary Edition

It’s hard to believe, but this month marks the 2-year anniversary of my consulting firm and blog. My team and I have worked diligently to provide risk professionals, executives, and other interested parties with helpful tips for understanding enterprise risk management and how to apply it and realize value for their organization. To celebrate our…
Read More
ERM maturity assessments

ERM Maturity Assessments: Are we assessing the right thing?

At the end of my first year of managing the ERM program for a large Florida property insurance company, we had a big risk consulting firm come in and assess the maturity of the program. ERM maturity assessments measure where your ERM program sits on a scale (typically 1 to 5 or words that label…
Read More
operational risk management

Integrating Strategic Risk Management and Operational Risk Management

Most organizations, if not all, have some level of operational risk management. Some organizations are focused on operational risk related to safety or contract oversight of vendors for example. But a common view of operational risk management is slightly broader by examining risks associated with the actual daily operations of the organization. Examples include understanding…
Read More

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,…
Read More
Menu