ERM

GRC Tuesdays: ORM vs ERM, the Battle that Should Not Have Started

I recently had dinner with friends who all work in the environmental, health and safety (EH&S) area and we’ve all reached the same conclusion. Instead of breaking-down risk management silos, many companies going up the risk maturity curve build new walls. This seems to originate from a battle that, to my mind, has no real (more…)

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GRC Tuesdays: Why I Love Risk Management… and I Think You Should As Well

The bottom line is pretty straight forward: it’s because risk management is not about preventing the business from progressing faster. It’s actually to help it thrive and take the right level of risk – the one that will support the achievement of the objectives and won’t endanger the business in case it encounters a few (more…)

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GRC Tuesdays: In Risk Management, a Picture Is Worth a Thousand Words

To me, this adage fully applies to risk management where the complex situation and environment of a risk can more easily be grasped visually using dedicated graphical models like the bow tie representation. Indeed, I believe this type of representation can truly ease the risk identification and mitigation phases. Furthermore, with such an easy-to-understand representation, (more…)

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GRC Tuesdays: Country Risk and Enterprise Risk Management

In many companies, country risk is treated separately to risks registered in their enterprise risk management (ERM) framework and reported independently to the board – most often by using political risk maps. To me, this is an error because country risk has a direct impact on operational risks. This impact should be materialized so that (more…)

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GRC Tuesdays: Good Use of Collaboration in Risk Management

by Thomas Frenehard, GRC, SAP I think we’ll all agree: risk management is all about breaking silos. Indeed, an enterprise risk management (ERM) program can only be efficient if it crosses departments and functions. If only one area of the organization successfully monitors and mitigates its risks, then the program as a whole isn’t effective (more…)

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Rating: 5.0/5 (10 votes cast)

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