Posts Tagged ‘ CEO ’

Risk management oldies but goodies

October 12, 2011

The good folks at Riskviews got me thinking about my least read posts. I’ve been doing this for a few years and understand that no one wants to scroll through over 300 blog entries to find some gems from 2006. So here are a few items you may have missed that might be worth your time. A Common Sense Approach to ERM In a sentence, The Riskczar says the common sense approach to describing the process of risk management like this: First you identify your risks, you figure out which ones are the most important, next you decide how to…

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Rick Nason asks you to snap your fingers

February 4, 2011

Risk Nason, one of the members of Riskczar’s Secret League of Extraordinary Risk Gentlemen, asks his readers if they could snap their fingers and switch places with anyone in the world, who would it be. Similarly, he asks if you could switch places with anyone’s risk department, whose would it be? Can you name the organization? While it’s hard to be specific, I’d be looking for an organization with a corporate culture that would be accepting of the sort of change management efforts that would be required if one was going to embed risk management as a systematic capability. This is…

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The CRO cannot be expected to do what only the CEO can do

May 27, 2010

Here’s an excellent op-ed piece in US Banker about the role of the chief risk officer and the CEO. This may be the best thing I’ve read in months. Setting the tone for this article is Warren Buffet who recently wrote in the BRK shareholder’s letter:  “I believe that a CEO must not delegate risk control. It’s simply too important. … If Berkshire ever gets in trouble, it will be my fault. It will not be because of misjudgments made by a risk committee or chief risk officer.” The author writes: 1) CEO is directly responsible for thoroughly understanding and…

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The Blind Side – how risk managers are like lineman

November 13, 2009

The following post is a summary of an article written by Beaumont Vance in Risk Management Reports (February 2008) where he drew comparisons between the role of the Left Tackle (described in Michael Lewis’s book The Blind Side) and the future of risk professionals. All portions from Vance’s article are in italics. Vance writes: Up until the 1970′s, the men who protected the quarterback (called linemen) were considered to be of little importance. Since they never handled the ball and never scored any points, they were paid very little. The general thinking back then was that one needed only find…

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