Tag Archives: Enterprise risk management

How financial services can address the growing cyber risk threat

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To effectively mitigate cyber risks, firms must view the exposure in the context of overarching enterprise risk management and manage the human element of data security. Continue reading →

3 drivers of epic risk culture failures

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Organizations that foster a positive risk culture tend to be those that thrive. This is an imperative of the strategic chief risk officer (CRO). Continue reading →

Changing the face of the risk function….

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When some risk management teams are asked to weigh in on a business decision, they boil the question down to a matter of accept or reject. But in limiting their answers to a binary choice they’re missing a trick. Continue reading →

Risk heat maps: Moving from fear to danger to strategy

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In some situations, final frequency and severity scores may reflect the fears of the group, which can be unduly influenced by risks that are easier to imagine and/or that are currently topical. But what is needed to effectively guide organizations’ risk management activities is an assessment of underlying danger — rather than irrational fear. Continue reading →

How chief risk officers can make everyday enterprise risk management tasks strategic

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Chief risk officers have a unique, risk-focused perspective into the activities of their companies. By taking specific steps, they can promote this perspective to help achieve strategic goals. Continue reading →

Using the ERM framework to support capital management

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The strategic CRO can champion the idea that risk and capital are two sides of the same coin. Traditionally the risk and capital teams have often worked independently, but supporting one another enhances strategic, capital management and risk management decisions. Continue reading →

Finding the opportunity in enterprise risk management: What’s in a name?

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The strategic chief resource officer realizes that enterprise risk management is about breaking down the silo mentality and analyzes risk and opportunity together. Continue reading →

2019: Most dangerous risks to insurers

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Six of the top 10 risks identified as most dangerous for insurers in 2019 were in the top 10 last year. The other four fell within last year’s top 18. Continue reading →

3 types of enterprise risk management and their roles in strategy

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There are many ways for enterprise risk management to be strategic, even without the risk reward component. But if you are a CRO and want to be seen as an obvious contributor to strategy, you need to keep the four stages of strategy and the contributions that your ERM program can make in mind throughout the year. Continue reading →

4 key steps to business strategy for CROs

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When we talked to 20 insurance executives about enterprise risk management and strategy, most responded to our questions with suggestions of how ERM teams could become more successful by interacting with planning and budgeting colleagues. But there’s more to strategy than planning and budgeting. Continue reading →