According to Insurance Networking News, A.M. Best Co. revised its outlook for BNY Trade Insurance Ltd to positive from stable because of “strong capitalization, consistently positive operating results, conservative operating strategy and robust enterprise risk management (ERM) framework as it follows its parent’s, The Bank of New York Mellon Corp., ERM practices.” Hey CFO, how [...]
Posts Tagged ‘enterprise risk’
Rating improved because of ERM
Posted in ERM Basics, Risk management, tagged A.M. Best, CFO, enterprise risk, ERM on December 2, 2009 | Leave a Comment »
Top 10 Must Read ERM Articles
Posted in ERM Basics, Frameworks, Humour, My Opinions, Risk management, Thought Leadership, tagged Aabo Fraser Simkins, Beasley Cluen Hermanson, Beaumont Vance, Conference Board of Canada, enterprise risk, ERM, Ernst & Young, Felix Kloman, Harrington Niehaus Risko, Hydro One, James Lam, Kleffner Lee McGannon, Riskczar, Top 10, Trevor Levine on November 30, 2009 | Leave a Comment »
In a survey conducted during the Fall of 2007 by The Conference Board of Canada titled, “Who Reads What Most Often? A Survey of Enterprise Risk Management Literature Read by Risk Executives”, authors listed the top ten articles used by leading ERM practitioners (in order of year published). I’ve reprinted the list here with links [...]
Scott Crowley – Build the Plan, Success will Follow
Posted in Risk management, Thought Leadership, tagged Crisis management, enterprise risk, Meyers Norris Penny, PwC ERM, Scott Crowley on September 11, 2009 | Leave a Comment »
Have a look at something my friend, Scott Crowley wrote. He is a Partner and an Enterprise Risk Services Leader at Meyers Norris Penny LLP in Toronto. In the face of potential extreme events like terrorist attacks, blackouts, widespread pandemics and natural disasters, organizations must be prepared to sustain operations for any eventuality, no matter [...]
A bit more on Hydro One
Posted in ERM Basics, Frameworks, Thought Leadership, tagged enterprise risk, ERM, Hydro One, Olsen, risk, Wu on September 10, 2009 | 3 Comments »
Yesterday I wrote about a Hydro One case study and today I found (completely by accident) an entire chapter dedicated to Hydro One and their ERM effort in Chapter 11 of the book Enterprise Risk Management By David L. Olson, Desheng Dash Wu. You can access a limited preview of this book if you paste this [...]
H. Felix Kloman – COSO ERM vs ANZ 4360 Deathmatch
Posted in ERM Basics, Frameworks, Thought Leadership, tagged 31000, 4360, COSO ERM, enterprise risk, Felix Kloman, Framework, Norman Marks, PwC ERM, Tim Leech on September 9, 2009 | 2 Comments »
Here’s a 2003 article written by Mr. Kloman where he reviews a draft version (at the time) of 4360 and one of COSO ERM authored by PwC. Although he is not reviewing the final versions, one can still draw similar conclusion. The terms “winner” or “draw” were added by me. Mr Kloman noted: 4360: Model [...]
Is it too soon to add Zombie Risk to our heat maps?
Posted in ERM Basics, Frameworks, Humour, tagged enterprise risk, heat map, zombie on August 19, 2009 | 3 Comments »
According to researchers at two Ottawa universities who modeled a zombie attack using biological assumptions based on popular zombie movies, “classic” slow-moving zombies could take over our cities in under a week. (The “nimble, intelligent creatures” would take a few days less I imagine.) And while we can all laugh this one off and conclude [...]
Scientific Evidence About the Value of ERM
Posted in ERM Basics, tagged enterprise risk, ERM, Hoyt, Liebenberg, Riskczar, The Value of Enterprise Risk Management on August 19, 2009 | Leave a Comment »
If you are the kind of fellow who enjoys 40-page white papers from academics about the value of enterprise risk management (ERM), then you must read a new paper with the catchy title: “The Value of Enterprise Risk Management,” by Robert E. Hoyt and Andre P. Liebenberg at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1440947 . But even without this empirical [...]
Reputation Risk is not a Risk
Posted in My Opinions, Risk management, tagged enterprise risk, reputation risk, risk treatment on August 18, 2009 | Leave a Comment »
Reputation risk is a second order risk. It is caused by some other risk event. Coke cannot go out and buy some reputation risk insurance but it can try to ensure that it’s factories don’t stop working or rat droppings don’t show up in its beverages. These can be treated or controlled. It is only [...]
Everyone knows where the icebergs are
Posted in ERM Basics, My Opinions, tagged enterprise risk, icebergs, Riskczar, Titanic on July 9, 2008 | Leave a Comment »
Before the Titanic struck that iceberg almost a century ago, the captain was told that there were icebergs in those waters but dismissed the junior officer’s warning. He was heard saying: “In my thirty years at sea, I’ve never struck an iceberg before. Full speed ahead.” Everyone knows where the icebergs are. Risk management just [...]
A Common Sense Approach to ERM
Posted in ERM Basics, tagged assess, enterprise risk, identify, manage, Riskczar on May 12, 2008 | 2 Comments »
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 address and then you do something about it and tell everyone how you are doing from time [...]
