risk informed decision making

Be Warned: Impacts from Cyber Attacks Not Fully Insurable

In speaking with clients or other organizations, I’m often astounded by the response I receive when I ask about cyber-attacks. Too often, the risk professional or executive I’m speaking with says something like this – “Oh, we have insurance coverage for that…” This is cringe-worthy, like fingernails on a chalkboard cringe-worthy to me. Black Board…
Read More

ERM Outputs Do Not Equal Reports

There’s a common misconception that ERM outputs means reports… It’s easy to understand why – reports are something that people are comfortable with. They are tangible and usually don’t rock the boat since they simply lay out already known information in a glossy presentation. It’s no wonder then that over 40% of executive respondents in…
Read More

Maximize your Impact as a Risk Professional by Developing Strategic Thinking Skills in 4 Steps

Being an effective risk professional in today’s business environment takes more than just technical knowledge of risk management techniques. If you want more info on those aspects for ERM, you can browse through my blog for a laundry list of topics, as well as various books and other online resources. But as explained in last…
Read More
strategic planning

6 Quick-Glance Resources for ERM to Support Strategic Planning

We’re fast approaching that time of year when organizations start their strategic planning.  It literally seems like yesterday we were talking about goals for 2019. Before you know it, 2020 will be here! Risk professionals like you play a key role in ensuring executives are making the most informed decisions possible. These decisions are among…
Read More

Don’t Waste Time Managing Risks

Risk management as a concept is undergoing changes, as most everything else. New developments and an ever-increasing speed of change adds and changes the demands for risk management- both in terms of what to do, and how to do it. The world is changing faster than ever before – and anxiety as to the speed…
Read More

Risk Monitoring: 6 Considerations for Understanding this Make or Break Moment for ERM

Michael Rasmussen, an internationally recognized author and expert on governance, risk management, and compliance, explains: Organizations take risks all the time but fail to monitor and manage these risks effectively in an environment that demands agility. It is not surprising then to see how risk monitoring is considered a “big win” by many… This article…
Read More

Why ERM Often Fails to Add Value to Decision-Making

You are working hard to help your organization build an effective enterprise risk management program. You’ve spoken with all the business units, identified their significant “risks” and assessed them, come up with numerous risk registers, developed detailed risk reports for executives, and so on. Yet, people still don’t seem to see the value. Why? Why…
Read More

Decision Focused Risk Management is not that Different

By Hans Læssøe To many risk managers, who have spent years identifying, analysing and mitigating risks, the concept of decision focused risk management may seem very different, daunting or even somewhat scary. However, despite the inherent differences, the change is not as big as it may appear at first. Yes, there are differences. Let me…
Read More

7 Questions for Understanding the Fundamentals of Risk Appetite

The concept of risk appetite is probably the most confusing and controversial part of the enterprise risk management process. If you do a search for risk appetite, you will find a wide variety of perspectives on how to develop and use it. While there may be an implied risk appetite or a generic statement on…
Read More

Practicing ERM without a Formal ERM Program

Many of the ERM resources you encounter on my blog and elsewhere focus on elements of a formal program like developing a framework, establishing risk appetite, and more. We imply, at least indirectly, that your organization must have this formal structure in place before practicing ERM. However, this isn’t always the case… Double-take – why…
Read More