One of my fellow risk management thought leaders posted a great article on what he calls the Five Coulds which is not unlike the 5-Whys tools used in Lean Six Sigma; a root cause drill down technique. I’ve been a proponent of root cause techniques for years. I used to find it quite tricky distilling [...]
Archive for December, 2009
Risks, root causes and downstream effects
Posted in ERM Basics, tagged insurance risk, Lean, root cause, Thomas Bragg on December 31, 2009 | Leave a Comment »
Risk Management of Everything
Posted in ERM Basics, Thought Leadership, tagged Michael Powers, reputation risk, The Risk Management of Everything on December 31, 2009 | Leave a Comment »
About five years ago I stumbled upon a really great essay titled The Risk Management of Everything by Michael Powers and published by Demos. I was doing some housekeeping and found it in my files and decided as my New Years gift to the readers of Riskczar, I should bring it to your attention. This [...]
Catlin’s enterprise risk management efforts raised to ‘Strong’
Posted in ERM Basics, tagged enterprise risk, ERM, risk culture, S&P on December 30, 2009 | Leave a Comment »
Another upgrade courtesy of good ERM. What are you people waiting for? Call me already. Or forward this to your CFO. Here’s the article from news-insurances.com: Catlin Group Limited, the international speciality property/casualty insurer and reinsurer, has been rated to to ‘A’ from ‘A-’ from Standard & Poor’s Rating Services. “The rating and assessment upgrades [...]
Happy Holidays
Posted in Uncategorized on December 24, 2009 | Leave a Comment »
Merry Christmas and Happy Holidays to everyone who gets up each day to see what I’ve written. Thanks for your support and feedback. All the best to you and your families this season. Trevor
CREW’s top ten ethics scandals for 2009
Posted in Risk management, Thought Leadership, tagged CREW, scandal on December 23, 2009 | Leave a Comment »
Citizens for Responsibility and Ethics in Washington released their list of top ethics scandals for 2009 (in pdf format). My favourite is the South Carolina Governor (R) who lied about hiking in the Appalachian Trail and took off to Argentina to visit his mistress. He might have gotten away with it if it wasn’t for [...]
Marks explains how to make risk management a way of life
Posted in ERM Basics, Risk management, Thought Leadership, tagged IIA, Norman Marks, risk culture, risk management on December 23, 2009 | Leave a Comment »
In this November 2009 post on the IIA website, Norman Marks promotes the idea of making risk management a way of life instead of a quarterly exercise. If it doesn’t add value, then it is merely “decoration”, he writes. I quite enjoyed this example about managing the risks of his daily commute to work – [...]
Professor Pinch’s basic risk management strategy
Posted in Risk management, tagged Professor Pinch, risk management, Strategy on December 23, 2009 | Leave a Comment »
Professor Pinch builds on my blog and shares his thoughts about personal risk management and risk management in general. He writes: “Always (put) yourself in position to control your response to situations – (do) not have them dictated to you by the choices/actions of others.” That’s going in my Risk Quotes page. Click here to [...]
Downgrade unlikely because of strong ERM
Posted in ERM Basics, tagged credit risk, ERM, S&P on December 22, 2009 | Leave a Comment »
I posted an ERM-related press release from the S&P recently which was very well received by Riskczar readers as measured by the number of hits received. Here is a very similar one that notes that counterparty credit rating on Platinum Underwriting Holdings Ltd. increased to ‘BBB+’ from ‘BBB’. I really like the comments from credit [...]
Protiviti: What is misunderstood about risk management
Posted in ERM Basics, Thought Leadership, tagged James Pajakowski, Protiviti, residual risk, return, risk management on December 21, 2009 | 1 Comment »
James Pajakowski, EVP of Global Risk Solutions with Protiviti was asked what is most misunderstood today about risk management in Bank Info Security: You can eliminate all risk in an organization. If you do that you are probably also going to eliminate all upside. So you have to live with risk, and it is just [...]
One of many czars
Posted in Uncategorized, tagged czar, Newsmax, Riskczar on December 21, 2009 | Leave a Comment »
The current cover of Newsmax features all of Obama’s many czars. Sadly, I was unavailable for the photo.
