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…
PwC – ERM for educational institutions
Earlier today, I wrote about how ERM works for all organizations, including educational institutions. If you are interested in more on that topic, have a look at the attachment. I picked it up a few years ago when I worked…
PwC asks: Does ERM Matter?
PwC re-iterates that ERM has become a priority at the board and senior management levels but more work must be done in order to embed ERM into strategic decisions and day to day risk taking. Additionally, risk appetite must be…
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…
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…
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 address and…
ERM Creates Value
ERM helps leaders deal effectively with the current or potential events that create uncertainty and respond in a way that balances the downside of the uncertainties that we want to avoid against the upside. The big picture outcomes of ERM…
Islands of Risk Management Capabilities
Risk management is not something new to you; there are islands of risk management capabilities throughout the organization. Sometimes we call it hedging or insuring or security, but it’s all risk management. Enterprise risk management (ERM) is merely a process…
Enterprise Risk Management is Pretty Simple
Enterprise risk management (ERM) is pretty simple. Financial institutions, regulators and consultants, would have you believe that risk management is very complicated, requires advanced mathematical training, an MBA or Ph.D., a knowledge of Latin or Greek and nothing short of…
A Greek Tragedy
He has just woken up from a nightmare. If this was a movie he would have sat up, opened his eyes and screamed, revealing to the viewer that we just witnessed a dream sequence, but Spiro’s eyes simply opened and…