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Two stories in the news recently have caught my eye: one involving a listeria outbreak caused by tainted cantaloupe, and the other involving Citigroup losing $285 million for defrauding investors.

In the cantaloupe story, the deadly, nationwide listeria outbreak was traced to a packing facility in Colorado operated by Jensen Farms, in which factors such as workers and trucks accidentally carrying the disease into the facility, and machinery being hard to sanitize created the environment in which

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

StratexSystems is running a series of 4 'How to' webinars around strategy and risk management. These events will be a combination of theory, based on the Risk-Based Performance Management approach, and technology.

Details are available at http://www.stratexsystems.com/stratexsystems-blog/2011/9/13/strategy-and-risk-how-to-webinar-series.html

I thought I would post a quick note about a recent blog post one of our clients wrote about their risk management initiative and the benefits it has brought.

In this post, the Head of Operational Risk talks about risk management becoming invisible in the organisation and the challenges of proving (to regulators) that risk management is been undertaken if indeed it does become invisible.

I think it is worth a read - http://www.hml.co.uk/blog/2011/09/23/risk-management-driving-value-from-a-long-game

In the current business environment organizations have no choice but to address risk issues and integrate risk management practices into their systems and operations. Enterprise risk management (ERM) must be factored into routine decision making and performance management. However, there is also the need for continuous innovation in ERM to ensure it keeps pace with ever emerging challenges.

Rob Quail is the Senior Manager of Enterprise Risk Management at Hydro One. He will be a speaker as well

Join over 16 industry leading experts at the Hilton Times Square in New York City, NY from July 14-15, 2011. Venue information here: http://www1.hilton.com/en_US/hi/hotel/NYCTSHF-Hilton-Times-Square-New-York/index.do

This practical, hands-on event will enable delegates to benchmark their ERM strategies against their peers, and is a “must-attend” conference for banks to stay ahead of the game by developing a comprehensive ERM program.

Hear from:
FDIC
KeyBank
PNC Financial Services Group
Bank of Montrea

Due to the overwhelming interest in the 4th Annual ERM Conference from March 17-18, 2011, the program is currently getting very full. We are working on the last few seats for this conference and want to make sure that anyone who is interested in attending, can do so.

The last day to register is March 7, 2011!!

Current Speakers Include:

Norman Marks, SAP

Susan Sieker, Brinker International, Inc.

Cristina Tate, Hewlett Packard

David Wong, CME Group, Inc.

Geoffrey Smith, Iron Mountain, Inc.

John J. Brown

The first thought paper, Embracing Enterprise Risk Management: Practical Approaches for Getting Started, developed by Mark Frigo and Richard Anderson of the Center for Strategy, Execution, and Valuation at DePaul University, describes how an organization can begin implementing an ERM process. It also examines perceived barriers to effective ERM and how to work through those barriers.  “Starting an ERM process is a daunting task for many organizations” said Anderson.  “The paper provides an actio

The economic crisis of the last few years has forced a renewed focus on the process of risk identification, management and mitigation at corporations across North America. Executives are taking a much closer look at their strategic risk management channels in order to formulate a more rigorous and effective Enterprise Risk Management programs. The interaction between executive management, the board of directors and company shareholders has presented numerous challenges and opportunities in the m

Well, if you do not, pay attention. Here is a 6 step checklist for what to do:

1. Signal your Buddy.
2. Get close with your Buddy.
3. Link your arms through his/her straps.
4. Open his/her chute.
5. Let your Buddy steer the chute.
6. Suggest that he/she look for an extra soft place to land (water).

There now. Don’t you feel safer?

You say you do not parachute jump? So what good it this?

Well, you must see that this is really good advice that can be applied

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 needprofits.

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

So Risk Management is the third most important need of a firm.

And ther