Necessities for Effective Risk Management What is it? A control is any action taken by management, the board, and other parties to manage risk and increase the likelihood that established objectives and goals will be achieved. (Source: IIA/IPPF) There may be different definitions, but I personally like this one as it includes all the key […]
What is it? Governance refers to the framework of rules, practices, processes, and structures by which an organisation is directed and controlled. It encompasses the mechanisms through which the objectives of the organisation are set, monitored, and achieved, while also ensuring accountability to stakeholders. Risk governance is a subset of overall governance that focuses specifically […]
In my previous article, I discussed assessing ERM maturity. Here I will run through the main points of implementing an ERM programme. It is worth noting that every organisation’s ERM implementation programme should be based on its own maturity, objectives, requirements and applicable regulatory standards. However, the points below should help to benchmark your approach. […]
In the ever-evolving landscape of business, risk is not a static concept; it’s dynamic, multifaceted, and omnipresent. To thrive in this environment, organizations must adopt a proactive approach to managing risks. This is where Enterprise Risk Management (ERM) comes into play. ERM isn’t just about mitigating risks; it’s about strategically identifying, assessing, and leveraging risks […]
In my previous article, I discussed the Case for Enterprise Risk Management (ERM) to an organisation. But how does it in turn add value to stakeholders, including employees, customers, suppliers, shareholders, regulators etc.? In essence, it makes it easier to do their jobs, provides protection, creates opportunity, promotes good governance and creates transparency. Here are […]
As the saying goes, the only constant is change. Which is particularly true of current times – from disruptive technological advancements (e.g. AI, Blockchain, ESG initiatives) to ever-evolving legal or regulatory changes (e.g. privacy, tax, capital) and unforeseen global crises or looming recessions. Organisations face a variety of risks that can threaten their viability and […]
Climate risk is a transversal risk that can impact all traditional categories of risk that we are familiar with. It can and should be incorporated into Enterprise Risk Management (ERM). This includes risk governance, strategy, assessment, review, monitoring and reporting. We must consider climate risk at nearly every stage from product conception and approval to […]
In the previous article, I wrote about the definitions of Sustainability and ESG as well as their origins. In this article, I will dive into Climate Change, the driver behind sustainability and ESG efforts, its importance, causes and our responses from policies and accords to what to expect from COP28. If Climate refers to the […]
