August 2010 Blog Posts (12)

Are Your Company at Risk of Damaging its Reputation due to Noncompliance?

A company was fined a heavy penalty the other day for a a workplace accident that was caused by the company managers condoning illegal actions, because that is the "way we have always done it in the

past".



In this case an unlicensed driver of a forklift caused an accident.



The company decided to plead guilty being negligent in terms of the Occupational Health & Safety Act, expecting a thousand rand (ZAR) fine, but thecourt decided a fine of R10000 would be more… Continue

Added by Deon Binneman on August 31, 2010 at 9:00pm — No Comments

Personnel Compliance and Business Valuation - Due Diligence during an acquisition

In the automotive dealership space I have seen acquisitions turn into legal tribulations when after a deal is closed personnel related non-compliance issues pop-up creating huge, multi-million dollar headaches literally days after deal close.



What was found was a fundamental disregard for the human element in the valuation of a business...what have the people been up to that reinforces the business processes that helped make the business successful as well as what they have been doing… Continue

Added by James E. Lawrence on August 30, 2010 at 8:30pm — No Comments

Governance, Risk Management & Compliance 3 different entities which work as Silos: Misconception

Most of today’s organizations feel that if they have a “Risk department”, an “Internal Audit Team” and a “strong Legal team “they are safe against everything but is it the case. I say No, having a resource team strong in their defined skill set is only one aspect of an equation and the remaining aspect is time, budget and coordination between the 3 (Risk Management Group, Internal audit team & Legal team) because Governance, Risk Management & Compliance do not act in silos, they are… Continue

Added by Sourabh Arya on August 30, 2010 at 8:37am — 2 Comments

ERM only has value to those who know that the future is uncertain.

First they need to have a product or service that people will buy. They need revenues.

Second they need to have the ability to provide that product or service at a cost less than what their customers will pay. They need profits.



Once they have revenues and profits, their business is a valuable asset. So third, they need to have a system to avoid losing that asset because of unforeseen adverse experience. They need risk management.



So Risk…

Continue

Added by Riskviews on August 29, 2010 at 3:34am — No Comments

Real-time Risk Intelligence

There is an interesting report written by Chartis Research about real-time risk intelligence. To get a copy, go to http://www.quartetfs.com/white-notes.php

Added by Mark Sappol on August 25, 2010 at 9:39am — No Comments

VaR: friend or foe?



For many risk managers, the recent financial meltdown has left them questioning the very essence of risk modeling, used by many since the 1990s to measure their firm’s

financial risk. Investment firms have traditionally…

Continue

Added by Mark Sappol on August 25, 2010 at 9:36am — 2 Comments

Managing counterparty risk is the key to restoring confidence in the industry

Most of Europe's biggest banks comfortably passed the Committee of European Banking Supervisors’ recent

stress tests and the sector has breathed a visible sigh of relief. However,

plenty of uncertainty remains over banks that either squeaked by with just

enough capital or passed but did not fully…

Continue

Added by Mark Sappol on August 25, 2010 at 9:28am — No Comments

Alistair Darling: RBS was 'a couple of hours' from collapse

Shadow chancellor Alistair Darling has described how RBS was "a couple of hours"…

Continue

Added by Boris Agranovich on August 22, 2010 at 2:30pm — No Comments

Have you adequately defined Reputation Risk in your Business?

Definitions create the lenses through which we look at the world. The renowned psychologist, Abraham Maslow said that if the only thing you have is a hammer, you tend to treat everything as a nail.



I start every seminar and presentation with definitions, so that I can establish a common framework through which I can work with my audience. In particular there are a number of definitions to describe reputation and reputation risk, each serving a… Continue

Added by Deon Binneman on August 17, 2010 at 8:02am — 3 Comments

US banks under increasing scrutiny

Xavier Bellouard, co-founder of Quartet FS



US banks under increasing scrutiny



New regulation continues to be a top priority for banks with the regulators both here and in the US placing increasing scrutiny on bank’s risk management policies in an effort to avoid another financial crisis. A recent article in the FT highlights how the US regulators are clamping down even further, making banks perform tougher "stress tests" of their financial health and being stricter as to… Continue

Added by CJ Conti on August 16, 2010 at 8:41pm — No Comments

The Law of the Few: World Class Corporate Crisis and Communications Teams

Many companies navigate the routine complexity of business with adequate or acceptable managem…

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Added by Tony Ridley on August 1, 2010 at 11:32am — No Comments

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