Raef Lawson, Vice President of Research and Professor-in-Residence for the Institute of Management Accountants was interviewed in The Hindu Business Line and asked about the COSO ERM framework. Q: Do you foresee that eventually COSO framework will be considered as…
Rating improved because of ERM
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…
Top 10 Must Read ERM Articles
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…
Scott Crowley – Build the Plan, Success will Follow
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…
A bit more on Hydro One
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,…
H. Felix Kloman – COSO ERM vs ANZ 4360 Deathmatch
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…
Is it too soon to add Zombie Risk to our heat maps?
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…
Scientific Evidence About the Value of ERM
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…
Reputation Risk is not a Risk
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…
Everyone knows where the icebergs are
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…