November 2012 Blog Posts (16)

GRC Soap - Fun and Instructive Reading!!

Fellow Risk Professionals,

I recently told a GRC tale in nine weekly episodes.  The thrust of this GRC case study on a bank’s misadventures is that an enterprise GRC solution can play a vital role in putting a well-validated and efficient process in place, so that even when management, the Board and regulators are looking in the opposite direction, they can have confidence that any significant issues will be brought to their…

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Added by Clark Richard Abrahams on November 28, 2012 at 8:10pm — No Comments

Risk Leadership - What is GRC?

I just returned from GRC 2012 - The inaugural industry conference bringing together the Australian Compliance Institute and the Risk Management Institution of Australasia. If you are wondering what GRC stands for, why the associations combined their conferences and what GRC really means, here are my views.



What does GRC stand for? GRC is an acronym for Governance, Risk and Compliance. It has its origins in the US, particularly post the large corporate collapses of a decade ago, where… Continue

Added by Bryan Whitefield on November 28, 2012 at 7:21am — No Comments

Visibility and control: the liquidity management mantra

Liquidity has moved further and further up banking executives’ agendas thanks to the growing industry focus as well as regulatory demands for more liquidity to be available in banks. Following the 2008 crash, liquidity has established itself as a risk concern for banks like never before – the failure of Northern Rock was essentially one of liquidity not funds. As a result, liquidity management strategies continue to be at the forefront of any strategic risk plan.

A fundamental…

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Added by Nicholas Downes on November 27, 2012 at 3:23pm — No Comments

HOW TO CONQUER PPACA/OBAMACARE - A BATTLE PLAN FOR BROKERS, EMPLOYERS AND CARRIERS - PART 1

This Post is the first in a set of two Posts looking at PPACA - Sometimes referred to as Obamcare or ACA.  

1) This first Post is to provide background on PPACA with Links to valuable information to answer questions for Brokers, Employers and Carriers.

2) The second Post will provide a Workable, Efficient, and Cost-Effective Strategy for Brokers and Employers to deal with PPACA/Obamacare for the 2013 Plan Year and Beyond.  The time to get started is…

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Added by Philip Eide on November 18, 2012 at 9:46pm — No Comments

ProTexting Joins Forces with HSRF to help raise awareness and funds for Hurricane Sandy victims

The aftermath of Sandy continues here on the East Coast – especially in New Jersey,  New York and Connecticut area. Yesterday many victims were also negatively affected by a Nor’Easter storm that halted the work and help of many volunteers. This storm brought 60 mph winds and 4-13 inches of snow, record breaking numbers for this time of the year.

Both storms however, have not diminished or weakened the spirits of the people in the these areas. On contrary – it has made them…

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Added by ganka belcheva on November 12, 2012 at 6:50pm — No Comments

Is Fox News A National Security Risk? A Benghazi Lessons Update

It was supposed to be a conspiracy of epic proportions. The U.S. government knew about the threats in Benghazi and did nothing, even when pleas for help came from the Consulate. No other major news organization would follow the story. The CIA called for back-up but was told to “stand down”. U.S. government officials said it was a mob action following the release of a third-rate anti-Islam internet movie, and then changed their story. Could it be any clearer? Why wasn’t anyone doing anything…

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Added by Brian P. Klein on November 12, 2012 at 6:08pm — No Comments

Decision Time China - Fighting Corruption

Is China really going to crack-down on corruption? If you believe all the buzz in the U.S. reporting on China’s national political convention (the 18th Communist Party Conference) outgoing party chair and current President Hu Jintao is finally getting serious. In oratory second only to Castro’s multi-hour monologues (minus the Cuban’s firery delivery) Hu went on for a good 100 minutes and made an ominous warning over corruption spoiling the party and threatening the state.



 Full…

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Added by Brian P. Klein on November 12, 2012 at 6:04pm — No Comments

Ten Foreign Policy Priorities for Obama – CNN Commentary

Rounding out the top ten - end China ambiguity:

China’s economic rise and increasing military assertiveness have pushed U.S. strategic ambiguity to its limits. If a decisive position isn’t taken soon, allies and friendly countries will question whether the U.S. can back up its Asia pivot talk with action. Focusing on realistic trade liberalization, increased military contacts with China and firm engagement rather than the blame and shame tactics of the past must become a…

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Added by Brian P. Klein on November 8, 2012 at 6:00pm — No Comments

Tower of Babel, Semantics Initiative, and Ontology

What's in a name? That which we call a rose by any other name would smell as sweet. ~ William Shakespeare 

The beginning of wisdom is to call things by their right names. ~ Chinese Proverb

At a symposium held by the Securities Industry and Financial Markets Association (SIFMA) in March 2012, Andrew G. Haldane, Executive Director of Financial Stability for the Bank of…

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Added by Mack Frankfurter on November 7, 2012 at 7:30pm — No Comments

Monte Carlo working example

The effort today is to develop a Monte Carlo simulation in Excel that works for operational risk losses rather than market or credit risk, where the technique is so often found. The objective is to build a fully working Microsoft Excel model which isn't just statistical theory but actually exemplifies the Monte Carlo simulation process in practice.…

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Added by Martin Davies on November 7, 2012 at 6:41pm — No Comments

Seven Key Questions Supply Chain Executives Should Be Asking Themselves Today

With another calendar year coming to a close, some supply chain professionals get a chance to take stock, while many others brace themselves for a sudden crescendo of activity that will mercifully relent once January rolls around.  That’s a reality of the supply chain management community: It’s broad and deep and diverse.

 

There are many job titles that handle many responsibilities in the complex business of moving things on time and on budget in the quantity and of the…

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Added by KELLY LOWE on November 7, 2012 at 3:34pm — No Comments

[Top Resources] The 2012 Global IT Risk Report - Coping in the Chaos? + The Essentials of Finance in 2012 - Free Kit

Exclusive 2012 Survey Results! Download the report and get the inside track on the business attitudes and opinions of IT security.

91% of businesses have experienced at least one cyber threat 41% feel they are underprepared. The 2012 Global IT Risk Report - Coping in the Chaos? from Kaspersky explores the attitudes and opinions of 3,300 IT leaders. The report looks at how the global IT community is reacting to today's changing threat landscape and gives their predictions…

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Added by GlobalRiskCommunity on November 5, 2012 at 3:00pm — No Comments

The Inner Circle update of the week: The Changing Face of Risk Management in the New Regulatory Environment

In our weekly Inner Circle update. This white paper explores how IT departments at financial institutions are assuming a more proactive role in identifying technologies.

http://globalriskcommunity.com/group/goldmembership

(see the new discussion in the Forum in the Inner Circle group)

p.s. Membership in the Inner Circle is not for everyone, only for those who want to be…

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Added by Boris Agranovich on November 4, 2012 at 11:00am — No Comments

Do risk frameworks resolve or drive dispute?

The question today is, does the use of a risk framework such as the one proposed under ISO 31000 reduce risk management disputes between managers in a company?

A possible upside we look for once a risk framework is in full operation, is an improvement in the sharing of risk knowledge and business intel. It could of course go…

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Added by Martin Davies on November 2, 2012 at 8:40am — No Comments

How do you Explain Risk Appetite?

I have had some very interesting conversations lately with Boards, Senior Managers and Risk Managers about risk appetite. Here are some insights:

Describing what we mean by risk appetite: Risk appetite is risk speak, however, it can be easily explained. With private sector firms I tend to describe using dollars as the example - "How much capital are you are willing to risk to try and make your forecast profit?" For not-for-profits I tend to…

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Added by Bryan Whitefield on November 1, 2012 at 4:48am — 1 Comment

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