The National Credit Union Administration (NCUA) by mandate has added Enterprise Risk Management (ERM) and Sarbanes-Oxley (SOX) like financial reporting attestation compliance to the list of required activities for credit unions. Why has the NCUA put SOX, or financial reporting attestation, and ERM in the same ruling?

The NCUA has recognized that all regulatory compliance guidelines have required a risk assessment component, so it is only natural to require an Enterprise Risk Management (ERM) prog

Looking back over my most popular blogs, there was a lot of interest in "5 Steps for Better Risk Assessments" back in March this year. Due to this interest I have created a complimentary 25 minute on-demand video webinar on this same subject complete with detailed "how to" examples and visuals that are not possible in a blog format.

Click here to watch this On Demand Webinar or read the full invitation below:

On-Demand Complimentary Webinar Invitation:

Risk managers are charged with ensuring transp

A risk taxonomy, the brains of an enterprise risk management software platform, creates a common language to make working across operational silos possible. It also creates the basis for a risk management discipline, so rather than reacting to seemingly "one off situations" the entire organization can standardize and prioritize how assessment, mitigation and monitoring are applied in a common comparable way to build risk management competency across the enterprise.

See our other blogs Identify C

Organizations need to build a robust Enterprise Risk Management (ERM) framework or risk taxonomy, which provides a holistic view of all information and relationships across the organization. Taxonomy structures and preserves the integrity of information, so as changes occur in multiple parts of the organization, managers can compare risks on an 'apples to apples' basis and connect the dots between business areas. It is the critical foundation of your ERM program and any enterprise risk managemen

Risk taxonomy is the framework of naming, organization and managing the relationships to manage your risk information. Your ERM program and any Enterprise Risk Management (ERM) software you use depends upon it.

Most organizations have an organizational chart of how their people are connected. To be effective in risk management, organizations must also have an organizational chart of how their business processes are connected to create accountability and focus on business value.

The first step is t

Risk assessments are plagued by subjectivity which means they simply cannot be relied upon to meet their objective. Subjectivity prevents risk assessments from being used across business silos and makes verification by audit or compliance review impossible. Subjectivity can be overcome by using a risk assessment template framework with the following best practice attributes:

1. Adopt a uniform numerical scale -Use a scale of 1 to 10, Scoring is based on a scale from 1 to 10, with 10 having the most

Risk managers are charged with ensuring transparency, alignment, and forward looking views throughout the organization.  The way this is achieved is through risk assessments. 

Successful enterprise risk assessments can be a powerful tool for board and management level strategic decision making by connecting business activities to goals and identifying the risks that threaten to derail these strategic objectives.  An unsuccessful risk assessment is little more than a form over substance activity t

Introduction

The 2011 Thailand elections will be an eventful few months for the country and businesses and travellers will be affected by the newest political climate change. If you want to know how business and travellers will be affected, then read on. In this article you will learn how recent events and the elections have affected business leaders viewpoints, travel and tourism, government agencies along with the what the next few months has in stall for everyone with exposure to Thailand. By

Managing Business Travel Risks and Crisis

Introduction

If you know that business travel is not without its risk and the potential for crisis, then you need to read this article.

In this article we are going to talk about the management and containment of crisis as it relates to travellers and travel managers.
The objective of this article is to share with you the collective knowledge on managing crisis and significantly improve your ability to identify and manage a crisis but also improve your busin

Tony Ridley

In spite of the considerable investment and development around the preservation of assets and the mitigation of risks across conventional corporate assets such as facilities, information, equipment and products, the same methodology and motivation remains far less advanced in regards to human capital.

Before any organization even explores risk management strategies for their human capital it is fundamentally important that they first determine the value at risk. Not only is it a case

Tony Ridley

Volcanos that erupt and disrupt the world’s travel plans don’t happen every day but travel disruptions and threats to travelers do. It often takes a dynamic or amplified event to display just how much planning and oversight goes into day-to-day risk management, in order to reveal just how ineffective the process may be overall.

Travel buyers have admitted that the volcano eruption in Iceland has taken a substantial bite out of their 2010 travel budget, if a new survey is to be believe