risk informed decision making

Will Inflation be a Gray-Rhino in 2021?

Soon after COVID-19 began affecting the U.S. last March, I spotted a brief article on LinkedIn from Hans Læssøe explaining how the pandemic was not a “black swan” event as some were saying but rather a “gray-rhino.” As you may know, a “black swan” is an unforeseen, improbable event, be it positive or negative, which…
Read More

Top 21 Risk Management (…and Other) Resources for 2021

Happy New Year!! As of this writing, the year 2020 is officially in the rearview mirror. Suffice it to say that between the COVID pandemic, a contentious election year here in the U.S., a record-breaking hurricane season, and other challenges, we are all glad to bid the past year farewell. Personally, the year had its…
Read More
visual aids

Harnessing the Power of Visual Aids to Prompt Robust Risk Conversations

There’s a good chance – 65% in fact – that you are a visual learner. I personally put myself in this category. Rather than reading text or listening to instructions, I always perform better and remember more through visual aids, especially on a subject I’m not familiar with. Numerous research studies back up my personal…
Read More
ERM best practices

Why Following ERM Best Practices Can Do More Harm than Good

Woven into many of my posts from the last 4+ years is the advice that ERM best practices should be approached with caution. While the updated COSO and ISO 31000 standards can be great starting points for some organizations, simply copying another organization’s policies and practices comes with many drawbacks that will eventually become painful.…
Read More
future of risk management

Is Quantitative the Only Future of Risk Management?

Quantitative methods for understanding how risk and uncertainty impacts the organization is a subject I’ve been focusing on more this year. Without a doubt, modeling, Monte Carlo simulation, and other advanced math-based methods can be a valuable tool for helping decision-makers in certain companies. Many risk management thought leaders, including some I quote often like…
Read More

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…
Read More

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…
Read More
Menu