Posts Tagged ‘ risk culture ’

Gladwell, crashing planes and risk management

November 10, 2011

  In his book “Outliers”, author Malcolm Gladwell explains how “The kinds of errors that cause plane crashes are invariably errors of teamwork and communication” as opposed to mechanical causes. Also, they usually happen after a sequence of mistakes and misfortunes and rarely because of one event. Our respective cultures dictate how we work and communicate with others. Gladwell describes how communication is very formal in many places where there is a social hierarchy between the “inferior” and “superior” person having the conversation. (Think customer and waiter, accountant and CFO, and co-pilot and pilot.) Even though it’s a co-pilot’s role…

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Riskczar Comics – PIIGS

October 3, 2011
Riskczar Comics – PIIGS

Riskczar Comics #3

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Riskczar Comics – Business continuity and the satellite

September 30, 2011
Riskczar Comics – Business continuity and the satellite

Riskczar Comics #2

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Riskczar Comics – The CEO and the risk report

September 29, 2011
Riskczar Comics – The CEO and the risk report

Here’s my first crack at an illustrated view of  risk management in the world today. If you would like to see more of these please leave a comment at riskczar.com or @riskczar (as I probably have about 20 more ideas waiting to be drawn).   Riskczar Comics #1

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They will always find a way to screw you

September 20, 2011

I worked about six shifts at a Burger King in a shopping mall when I was in my teens. I quit because I didn’t care much for wearing the brown pants and hairnet. On my final night, the closing shift, I helped the veterans take the trash out. When we got to the Dumpster my colleagues ripped open a trash bags and pulled out a sealed bag that included dozens of Muppet Babies toys which they smuggled out of the store. Despite the manager’s belief that he had controls that were “watertight as possible” if your employees want to screw…

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COSO writes about ERM and where to start

January 17, 2011

You may be shocked to learn that I have finally read something published by and related to COSO which is worth your time to read. (If you’re familiar with Riskczar’s Blog, you would know that I rag on the COSO ERM Framework anytime I get the chance.) COSO’s Embracing Enterprise Risk Management: Practical Approaches for Getting Started by authors Frigo and Anderson may not be earth shattering but it is as good as anything out there on the topic of implementing ERM. The paper focuses on the behavioural side of implementing ERM which is where I lay my hat. One…

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Baseball and risk management

November 4, 2010

One day we will send a man to the moon and bring him home safely. One day we will elect a black President. One day the Montreal Expos will win a World Series. One day we will drive flying cars to work like George Jetson. When you imagine a time line of the 20th century, at any moment on the continuum, these events were either a certainty, very likely or very unlikely. Space and time matter. Every season statisticians and talking heads prognosticate about how likely it will be that a team could win the Championship. But often our beliefs…

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Promote a culture of Truth

February 24, 2010

My 11-year old came home from school this week and told me he got into trouble and was sent to the office. At lunch, he was horsing around with his buddies and threw some lunch meats at each other. Fortunately, no one was injured. I asked him if was going to do that again, he said no, and that was the end of it. He replied how glad he was that he could tell me the Truth. After all, if I yelled at him every time he screwed up, he would lie or keep secrets. I believe I have created…

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Why risk management is vital

January 4, 2010

It’s 2010. Likely your first day back at the office. Maybe your CFO or VP walked by your desk this morning with your marching or orders for this year and it went something like this: “Smithers, I am hearing a lot about this enterprise risk management. Get us some, okay?” Maybe you’ve started a Google search and happened across this blog. Well good for you. This is an excellent place to start. Another good place to start is having a read at this article below from Business Daily Africa titled “Why Risk Management is Vital” where the author reminds us…

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Catlin’s enterprise risk management efforts raised to ‘Strong’

December 30, 2009

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 primarily reflect the improved financial profile of the Group,” Standard & Poor’s said in an announcement issued today. “The ratings and assessment also reflect Catlin’s strong competitive position, strong operating performance, strong capitalisation and strong enterprise risk management,” the announcement said. Specifically, Standard & Poor’s…

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