risk assessment

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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…
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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…
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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…
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operational risk management

Integrating Strategic Risk Management and Operational Risk Management

Most organizations, if not all, have some level of operational risk management. For example, some organizations are focused on operational risk related to safety or contract oversight of vendors. 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…
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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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7 Commonly Made Mistakes in the Risk Identification Process

The risk identification process, and ERM in general, naturally involves a bit of trial and error. What works for one organization may not work for another, which is why any “best practices” advice you run into should be viewed at a very high level only. When working through how you will identify and assess risks,…
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3 Best Practices for Factoring Risk into Your Strategic Planning Process

No one enjoys strategic planning exercises. They conjure images of a stuffy room filled with executives in dark suits, stacks of paper strewn across the table, and whiteboards covered in scribble. Even in the most collaborative organizations, each executive represents his own department as he vies for the few dollars set aside for yearly projects.…
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Top 5 ERM Insights Posts You Need to Read Today

It’s hard to believe it’s been close to 9 months since I launched the ERM Insights by Carol blog. I hope you’ve been enjoying the content as much as I’ve enjoyed putting it out there. If this is your first time visiting the blog, welcome! I also want to say thank you to all of…
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Meet Carol

​As an enterprise risk management consultant, my goal – and a real passion! – is ensuring companies have the tools they need to identify and properly manage threats and opportunities to business objectives ... Read More

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