Category: Enterprise Risk Management

Conducting Enterprise Risk & Control Assessments

As the business risk landscape continues to evolve and increasingly become complex, it is important for organizations to conduct their risk and control assessments effectively and efficiently in order to achieve their strategic objectives. The risk and control assessment can be qualitative, quantitative or both and the objective is to help the organization to identify, […]

Formulating an Enterprise Risk Management Policy

Good governance is critical for good enterprise risk management (ERM). It is important for the effective embedding of ERM into an organization’s everyday activities hence should be one of the board’s primary aims and responsibilities. It is essential for the board to understand that good governance is not a rigid set of rules to be […]

Integrating Risk and Performance Management

Risks and opportunities are prevalent in today’s global economy. Organizations are constantly getting exposed to material risks (financial, strategic, operational, geopolitical, environmental, legal, compliance etc) yet the majority are not prepared for them. Today’s uncertain business environment requires organizations to start taking a broader view of enterprise risks, focus on those risks with the greatest […]

Global Supply Chain Strategies Must Include Thorough Risk Analysis

Any risk to an organization’s supply chain puts the entire financial health of the organization in trouble. Supply chain risk management is a critical requirement, largely because failure to manage risk can be so devastating to the bottom line. It is important that the organization has robust processes in place to identify, rank and manage […]

Risk Management Is Becoming Increasingly Integrated and Connected

Accenture, the global management consulting firm, recently released the findings from their 2013 Global Risk Management Study titled Risk management for an era of greater uncertainty. Nearly 450 senior executives from both the public and private sector, across the globe, were surveyed to gather insights on how they and their risk management function are helping […]

Implementing an Effective GRC Framework

Governance, Risk and Compliance (GRC) management has traditionally been seen as a process aimed only at reducing risk-related costs.  Today, executives must move beyond tradition and find ways on how best they can leverage on GRC management to increase revenue opportunities, growth and drive business performance. Corporate scandals such as Enron’s accounting fraud and Bernard […]

Enhancing Effective Risk Oversight By The Board

Having a formal integrated and proactive approach to risk assessment and management is critical for value creation and driving business growth in today’s emerging environment. When evaluating the different strategic alternatives, it is imperative that boards and their management clearly understand the different risks that pose enormous threat to strategy execution. Enterprise risk management (ERM) […]

Risk Managers Must Adapt To Emerging Risks and Create Value

The global economic environment is increasingly becoming volatile and high risk for businesses to operate in. A wide array of new enterprise risks are constantly emerging and threatening the survival and growth of their organizations. These wide-ranging risks include financial risks, strategic risks, operational risks, regulatory or compliance risks, value and supply chain risks, human […]

Integrating Risk Management and Strategic Planning

Changes in information technologies, an increase in the number of corporate scandals, heightened globalization, complexity of business transactions, competition, natural disasters and the recent fallout from the global financial crisis have all contributed towards enterprise risk management (ERM) becoming a top priority. In the age of intense volatility, uncertainty, complexity and ambuiguity, business success hinges […]

Factors to Consider When Implementing a Risk Appetite Framework

Organizations have to take some risks and they have to avoid others. In a fast changing economic climate, organizations need to have a clear defined strategy and risk appetite framework so that they can react quickly to the challenges and opportunities presented at such times. The challenge for many organizations is expressing clearly their willingness […]

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