The author of this article in Business World, Roderick M. Vega, describes fraud risk management as a sub-branch of enterprise risk management and lists the three major categories of fraud as fraudulent statements, asset misappropriation, and corruption. Like an ERM…
Why risk management is vital
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…
Catlin’s enterprise risk management efforts raised to ‘Strong’
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…
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…
RiskCenter: Operational Risk – SEC Approves Enhanced Disclosure about Risk, Compensation and Corporate Governance
December 17: Operational Risk – SEC Approves Enhanced Disclosure about Risk, Compensation and Corporate Governance Courtesy of RiskCenter.com http://www.riskcenter.com/story.php?id=19377 Location: Washington, DC Author: RiskCenter Staff Date: Thursday, December 17, 2009 The Securities and Exchange Commission today approved rules to enhance…
SEC passes very important rules about board’s role in the oversight of risk
These paragraphs below, published by the Securities and Exchange Commission and effective February 28, 2010, may be the teeth risk management practitioners have been waiting for. Does it stand to reason that if Boards are required to provide disclosure about…
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…
Actuaries talk about operational risk
The actuaries have issued a pretty decent document titled A New Approach for Managing Operational Risk which combines the basic risk management content for newbies with the right about of quant-type stuff. The document also makes some interesting distinctions between…
Fantastic Mr. Fox risk management
I took my kids to see the Fantastic Mr. Fox movie this weekend. I thought it was quite delightful. I highly recommend it even if you do not have kids because an animated George Clooney is fantastic. For those of…
Risk management technology is not risk managment
A colleague of mine, also in the risk management field, and I were having lunch last week and we got on the topic of risk management systems. I was aware that her organization (an international FS company) had installed an…