During the recent financial turmoil many of the worst-affected companies had developed what they believed were robust and sophisticated ERM capabilities, so why were they not prepared to cope with the crisis?
In the latest podcast from WillisWire, I spoke to Geoff Taylor and Tom Teixeira from Willis discuss the key hallmarks of a successful ERM programme and what challenges organisations typically face. Both Tom and Geoff have established backgrounds in corporate risk management working for large blue-chip companies helping to integrate and embed ERM programmes.
Key highlights from the podcast include:
- Can ERM really challenge the board and influence a charismatic CEO?
- Does ERM really allow risk to be integrated into business strategy or does it just add more items to the risk register?
- Is ERM really the vehicle that will change organisational behaviours and that will enable managers of all levels and disciplines to contribute to the risk conversation?