About five years ago I stumbled upon a really great essay titled The Risk Management of Everything by Michael Powers and published by Demos. I was doing some housekeeping and found it in my files and decided as my New…
Downgrade unlikely because of strong ERM
I posted an ERM-related press release from the S&P recently which was very well received by Riskczar readers as measured by the number of hits received. Here is a very similar one that notes that counterparty credit rating on Platinum…
My rant on quantifying operational risk
Earlier I published a post about actuaries and operational risk. Today I am in a ranting sort of mood so here are my thoughts on quantifying operational risk. I am not a huge proponent of the quant when operational risk…
Twilight risk management
With New Moon, the second installment of the Twilight movie saga set to come out this week, I thought I would examine four types of risk treatments from the Edward Cullen point of view. They are ACCEPT, AVOID, TRANSFER and…
Risk managers are like janitors
This is a bit of a re-post but it seems appropriate following a comment I received earlier where the reader asks: “How can you convince a small business owner to invest resources into something that they cannot see a value…
More ERM at colleges and universities
On September 8, 2009, I published some thought leadership from PwC about ERM in colleges and universities. Today I came across a 2009 survey conducted by the Association of Governing Boards of Universities and Colleges and United Educators about the…
Monty Python on governance, risk, and compliance
I read too much about what GRC needs or what ERM needs but far too often suggestions read like my favourite Monty Python skit (a lot of easier said than done steps): Alan Well, last week we showed you how…
Back to school: ERM in universities and colleges
Seeing how the day after Labour Day is traditionally the first day of school, it seemed fitting to answer the question: “Hey, Riskczar, can ERM work in universities and colleges?” The short answer is, yes. (It works anywhere silly.) So…
Dishwasher risk management
In the book Freakonomics, the authors present data to support the fact that more children are killed by drowning in backyard pools than by handguns. However, as parents we are more likely to not permit our kids to go to…
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…