I re-post these press releases from time to time from the S&P as a way to bring awareness to enterprise risk management and how the rating agency’s review of their capability plays into their overall rating. This is the first time that I have see an explicit worsening in an ERM capability in these ratings. [...]
Archive for March, 2010
KPMG: 10 Common ERM Challenges
Posted in ERM Basics, Risk management, Thought Leadership, tagged challenges, ERM, Framework, KPMG, value on March 27, 2010 | Leave a Comment »
Risk Management magazine just published an article by Jim Negus (of KPMG LLP’s risk and compliance services group) listing their top ten ERM challenges. They write: Very few organizations find enterprise risk management implementation easy–it requires a rare combination of organizational consensus, strong executive management and an appreciation for various program sensitivities. Despite the effort [...]
Economist: Toyota’s overstretched supply chain
Posted in Uncategorized, tagged Economist, risk management, Toyota on March 5, 2010 | 2 Comments »
Here is a very good story about Toyota, it’s supply chain and managing its risks, from the February 25, 2010, issue of The Economist. http://www.economist.com/business-finance/displaystory.cfm?story_id=15581072 In light of its recent troubles I am not really troubled by Toyota. Perhaps I should be, but I am not. I have a Toyota and would likely buy another [...]
Risk in the 1960s
Posted in Uncategorized, tagged cigarettes, drinking, Mad Men, risk on March 5, 2010 | 3 Comments »
I’ve just started watching the AMC show Mad Men on DVD. (Yes, I know, I am three seasons behind.) And while I was aware that the show was set in 1960 in New York ad agency world, I had no idea there was so much risk going on back then. So much smoking, hard drinking [...]
Jihad risk
Posted in Uncategorized, tagged enterprise risk, jihad risk, risk treatment on March 5, 2010 | 1 Comment »
I read recently that Libyan leader Colonel Muammar Gaddafi has called for Muslims to declare a jihad against Switzerland. Apparently this is the result of a Swiss ban on minarets (tall spires) in the construction of mosques and nothing to do with one of Gaddafi’s son’s being arrested in 2008. Nothing. The Colonel also noted [...]
ERM in manufacturing
Posted in ERM Basics, tagged enterprise risk, Joseph Allred, manufacturing on March 3, 2010 | Leave a Comment »
Here’s an article we do not see very often (read: never). Joseph Allred, a CPA from Texas, writes about the value of ERM in a manufacturing organization. Although the content is consistent with what many of us often write about, I found it refreshing to focus on a non-financial for a change. The author does [...]
CFOs and risk management are just friends
Posted in Uncategorized, tagged CFO, enterprise risk, IFRS, month-end on March 2, 2010 | Leave a Comment »
According to a study based on conversations with almost 2000 global CFOs (that includes 17 of the DJIA companies), they love risk management. (Well maybe “love” is a strong word; maybe saying CFOs and risk management are “friends” is better.) According to Bill Fuessler, who co-authored the study, CFOs “are moving away from their transaction [...]
