Category: Enterprise Risk Management

Risk Decision Making in an Interconnected World

Globalization and advancements in digital technologies have fundamentally eliminated barriers to doing business. Today, the world has become so interconnected that we are now able to carry out business with any organization across borders anytime of the day. The opening of global markets which were once impenetrable for individuals, smaller enterprises and organizations is presenting […]

Reimagining Risk Management in a Constantly Changing Environment

Deloitte has published an interesting and useful piece, Reimagine Risk: Thrive in your Evolving Ecosystem based on its 2019 survey of risk management. The paper makes some good points, including: In environments of change, professionals in a range of endeavours often fail to understand risks and their roles in managing them. A lack of awareness […]

Talking About the Risks of AI and Cognitive Technologies

According to the recently published PwC’s 22nd Annual Global CEO Survey, 85% of the surveyed CEOs overwhelmingly agree artificial intelligence (AI) will have a significant impact on their business within the next five years. For this reason, they have plans to pursue AI investments. This is despite the fact that the information gap between the […]

Thinking About The Upside of Risk

Making intelligent and informed decisions is intrinsic to effective risk management. Many at times risk management decisions are centered around loss events and the negative consequences that might eventuate. The positive aspects of risk taking are hardly noticeable. Let’s take as an example, a decision by local-based company to build a sales and distribution presence […]

Third-Party Risk: What You Don’t Know Can Hurt Your Business

Thanks to globalization and advanced technologies, the world economy is increasingly interconnected and a borderless market. Businesses are no longer depending on their own resources and self-developed capabilities in order to achieve operational excellence, fuel growth and drive strategic success. For example, a retailer headquartered in Toronto, Canada, doesn’t necessarily need to rely on local […]

The CFO’s Role in Cyber Security

Artificial Intelligence (AI), Blockchain, Robotics, 3D Printing, Cloud Computing, Internet of Things (IoT), Mobile, Advanced Analytics among others are some of the new technologies making waves in the technology space. The rate at which technology is evolving is alarming to such an extent that if you’re a player in this field you have to constantly […]

Current State of Enterprise Risk Oversight

A recent publication, Global Risk Oversight, by North Carolina ERM Initiative, in partnership with the Chartered Global Management Accountant ( CGMA ) provides insights on the current state of enterprise – wide risk oversight, including identified similarities and differences in different parts of the world. Here are some key findings, with emphasis added: Organizations all around the […]

Defining and Evaluating Business Risks

Having an effective enterprise risk management (ERM) program that helps to measure, monitor and manage risks is no longer a nice to have but a must. Organizations regardless of which industry they operate in are increasingly facing strong headwinds that are forcing them to rethink the way they run their businesses, build new capabilities, implement […]

The Basics of Cyber Risk Management

New technologies, increasing digitization and globalization are transforming customer behaviors, operations and business models, presenting huge opportunities for business success, at the same time driving up cyber incidents .As organizations embark on their digital transformation journeys, it is imperative that they also assess possible threats presented by these new technologies. Traditionally, the focus for risk […]

Finance’s Role in Managing Enterprise Risks

The risk landscape is changing fast. Risks are multiplying at an alarming rate threatening to cause both financial and reputation ruin to the business. Because of this increasing risk complexity, there is a heightened focus on effective risk management. Senior management and board members are consistently looking for a deeper understanding of the organization’s risk […]

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