Tag Archives: ERM

Risk Management in Financial Institutions: Beyond the Three-Lines-of-Defence Paradigm

Holistic risk governance for Financial Institutions

In recent years, headlines about LIBOR rigging, PPI mis-selling, sanctions avoidance and rogue trading have revealed poor risk management and questionable values in the financial institutions (FI) industry around the globe. Continue reading →

Risk Appetite and Tolerance

tightrope walker

Although most insurers operate with a good risk appetite, in most cases, it is not articulated in a way that managers can connect to ERM terminology. Continue reading →

Emerging ERM Risk of 2015: Outsourcing

global-gear

Outsourcing might just be the most common business management earnings booster of the past 10 years. Which means that it is also a top candidate for becoming a major emerging risk in the near future. Continue reading →

ERM in Practice: Risk Policies and Standards

written rules

This fifth installment of ERM in Practice looks at a dozen global insurance and reinsurance groups, extracting several concrete examples from their ERM policies and frameworks. Continue reading →

Guide to ERM: Writing an ORSA Report

Reports

Insurance regulators have made the Own Risk and Solvency Assessment into one of the global Insurance Core Principles that need to be adopted in all countries. Continue reading →

Guide to ERM: Risk Measurement & Reporting

Measure

Peter Drucker is reported to have once said “what gets measured, gets managed.” That truism of modern management applied to risk as well as it does to other more commonly measured things like sales, profits and expenses. Regulators take a similar … Continue reading →

Top 10 of 2014 – #3: Guide to ERM: Risk Identification

TS-Man-with-Binoculars-7786

There are a number of common threads linking the emerging regulatory guidelines; one of these is the fundamental importance of risk identification. Continue reading →

Top 10 of 2014 – #4: Guide to ERM: Risk Appetite and Tolerance

fork and plate

Insurers are increasingly being asked to explain their approach to risk management and as a part of that discussion to clarify their risk appetite. Rating agencies are all asking about risk appetite. Regulators around the world will all soon require … Continue reading →

Top 10 of 2014 – #5: The Difference Between Risk and Loss

risk vs loss

Risk management has caused many people use the word RISK when they should be saying LOSS. And there is a world of difference between the two. Continue reading →

Top 10 of 2014 – #10: Guide to ERM: Stress Testing

egg in vice

Generally speaking, a stress test is an assessment of the financial impact of changing a specific variable, without regard to the likelihood of this change. Continue reading →