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Recently, Forrester Research published “GRC Vision 2017-2022: Customer Demands Escalate As Regulators Falter,” which explores challenges the GRC industry will inevitably face as it develops, and the proven solution that enterprise risk management provides. We’ve broken this report down to reflect our key takeaway: Approaches to governance, risk management, and compliance (GRC) must now consider the company’s consumer base, reputation, and ethical conduct.

Traditionally, approaches to GRC entail r

Virtually all cyber exposure programs today are directed at addressing the cyber exposures an organization faces from its own resources and activities and from outside sources. This is necessary but not sufficient.

Why? Because most organizations also face secondary cyber exposures that they are neither aware of nor prepared to address. For example, many organizations do not manage, or own their own properties but inhabit facility space managed by someone else. That someone, generally a building

If you ask an average CEO, "Where did you get your leadership skills training?"

Do you know what you discover?

Mostly, you discover there wasn't any training. They learned on the job – by making all the mistakes. It was training by error.

If you're interested in becoming a Strategic Leader, then you would like to watch the Module 6 of the "Cultivating Your Strategic Thinking" program here: 

https://globalriskacademy.com/p/strategic-thinking/

Just navigate to the curriculum section and click o

Lightspeed is fast. Really fast. If you followed The Hitchhiker’s Guide to the Galaxy series from the late 1970s and early 80s you would know how fast “really fast” is. A bit faster than when you travel in hyperspace.

Because of my full appreciation of the speed of light I was immensely pleased to read an article by Pat Barrett AO, Distinguished Honorary Professor in the Australian National University and Former Auditor-General of Australia, where he uses Einstein’s equation, E=MC², where C is th

Converting your business intelligence, CRM and analytics software into your customers risk and performance improvement platform of choice

In the outcomes digital economy you need to deliver results rather than products and services but most business intelligence, CRM and analytics software were designed as a tool unconnected to your customers’ risk and performance

From products and services to intelligent digital outcomes: when your products and services help your customers to become Best in Class

I know it’s a bit early for end of year predictions, however, someone asked me what I thought so I figured I’d better not keep it a secret between just him and me.

Technology

Specifically, the massive shift towards subscription/cloud based applications which brings with it plenty of opportunity and plenty of risk. The more that goes into the cloud, the smaller your IT department becomes and the less expertise you have to choose the right product to get your expected outcomes. Not to mention the cy

Back in June, the U.S. Justice Department declined to prosecute Boston-based engineering firm CDM Smith on foreign bribery charges, despite learning that the company had in fact paid $1.18 million to officials in India.

The firm paid the Indian National Highway Authority from 2011 to 2015 in exchange for contracts that resulted in about $4 million in profits. Such activity is a direct violation of the Foreign Corrupt Practices Act (FCPA).

How, then, did CDM Smith avoid prosecution? The declination

Having just completed a phone call I am feeling helpless and a bit angry. Why because the call was from a friend and colleague whose company just had a ransomware attack. It was successful and they are faced with either paying the ransom, or facing a total disruption of their business model and taking a major hit to their corporate reputation as they slowly work their way out of the mess.

Why Helpless? Because the damage is done. If they had taken our courses on managing cyber exposures at the gl

Stats don’t lie. The research of Professor Paul Nutt of Ohio State University into nearly 400 strategic decisions by major corporations showed that a mere 50% of decisions were successful. I think much of it can be explained because the leadership were implementing in the dark.

Organisations develop their own way of doing things. It’s cultural, a form of organisational creed.

When it comes to implementation, the organisational creed will dictate to a major extent how things will get done (see my

Dear Global Risk Community member,

Time is running out if you want to secure your spot on the Cultivating Your Strategic And Creative Thinking Program. 

http://globalriskacademy.com/p/strategic-thinking/

Starting 7th November, it runs for 3 months and you can fit your study around your work and home life, setting the pace yourself.

(Only 8 spots left for the upcoming program starting November 7)

As an executive taking on greater leadership responsibilities, you need to learn how to think mo

For more information, contact: ExL Events                                 FOR IMMEDIATE RELEASE

Phone: 866-207-6528

Email: registration@exlevents.com

“Ply Emerging Technologies and Effective SOPs to Enhance Regulatory Compliance and the Quality of Your Safety System”

ExL Events is hosting the 4^th Adverse Events Reporting and Safety Strategies Summit on December 4–5, 2017 at the Sonesta Philadelphia Rittenhouse Square in Philadelphia, PA.

This summit will offer an in-depth analysis of real-world dat

Ahead of the 3rd Edition IRB Models, the Standardised Approach for Credit Risk, and Capital Floors Conference, we spoke with Gottfried Gruber, Senior Examiner, On-Site Supervision Division at Oesterreichische Nationalbank, about how IRB models can be best developed for low default portfolios.

When IRB models were introduced by Basel II around 2004 the idea was to achieve a more risk sensitive approach to calculate capital requirements for credit risk. The Basel Committee then recognized the impor

Sorry. You can’t foolproof implementation of your strategy. No matter how good it is. You can however, give it a much better shot whilst battling those underlying intangible forces that dictate an organisation’s ability to outperform others that I wrote about last week.

In an increasingly transparent world, failures in risk management within the widespread and nearly instantaneous reach of media outlets ranging from Facebook and Twitter to the Wall Street Journal have had destructive effects on companies like Uber. What started as an evidently ignored employee’s ‘incident report’ posted to a personal blog caught like wildfire only hours after she pressed the Share button. The blog caught the attention of the world’s most trusted news sources and cast a net so w

Last week I wrote about corporate high performance units. Today I write about their biggest challenge: Battling the underlying intangible forces that dictate an organisation’s ability to outperform others.

Every organisation is made up of people making decisions to fulfil a purpose. Simple isn’t it? If only it were so. As I have often written, decision making is complex and there are many ways our decision making is influenced. In fact, that is what your policies, processes and systems are doing,

Here is a link to an amazing story.

The Sprocket Network is About to Change History.You may be aware that investing in companies before they become publicly traded on a public stock exchange provides for maximum capital gain potential.

Sport learns from business and business learns from sport. The time is now for corporates to adopt from sport, wholeheartedly, the concept of High Performance Units. I say wholeheartedly because I hear “high performance” used in corporates often. However, I rarely see anything new and exciting.

A High Performance Unit (HPU) in sport is the body responsible for coordinating the various support mechanisms around an athlete to ensure that they are at their peak every time their peak is required. HPU

It is a question that's difficult to answer, however, let me ask it anyway:

“Why will otherwise perfectly rational people ignore risk?”

I’m not talking about thrill-seekers who love the adrenalin rush of high-risk outdoor pursuits such as base jumping, where there is no reserve parachute as there is no time to deploy one if the first one doesn’t work. These thrill-seekers are taking quite calculated risks and making a choice that many others would not. I’m talking about ignoring risk that is real