To start the process of Risk Culture Building, an organisation first needs to get an accurate picture of the current level of risk culture maturity in the organisation. Various attempts have been made to do this and generally most revert to some kind of questionnaire or checklist approach linked to a scoring sheet that is eventually tabulated to quantify an overall score which is linked to a perceived level of maturity. In some cases organisations call in consultants who use an interview process
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In their new book Beyond Performance: How Great Organizations Build Ultimate Competitive Advantage (2011), McKinsey senior partners Scott Keller and Colin Price make some interesting observations about organisational transformation and the achievement of excellence.
Leaders wanting to „beat the odds‟ must find answers to questions related to:
- Dramatically (and quickly) improving the organisation‟s performance
- Avoiding the pitfalls of transforming an organisation
- Ensuring that performance improvement
Our partners at *IE. would like to introduce you to the exclusive Business Intelligence Innovation Summit, taking place in Chicago, November 15 & 16.
Don't miss out on hearing keynote presentations from PayPal, Turner Broadcasting, Hallmark and many more in an event acclaimed for its interactive format.
The early bird rate has been extended to Friday October 19, allowing you to engage with like-minded individuals for less.
Confirmed speakers include:
- Vice President, Head of Business Intelligen
Just one year ago you were probably aware of ISINs, BICs and/or SWIFT codes. But LEI, USI or UPI would probably have elicited a mere shrug. In the regulated world of OTC derivatives, these acronyms are the foundation for stringent and consistent regulatory oversight.
The Dodd-Frank Act mandated the creation of the Office of Financial Research (OFR) with the task to collect data from financial market participants to allow for enhanced visibility and transparency of a highly interconnected global m
This paper explores the current state of website security and how you can help protect critical data and build trust with customers. It begins with Secure Sockets Layer (SSL) encryption, the technology that addresses the most obvious and oldest problem in online business -the susceptibility of sensitive data in-transit to interception by cyber criminals.
===> http://bit.ly/securityTrust
The first shoe to drop was government regulations holding the Board of Directors personally responsible for the effectiveness of enterprise risk management programs at their organizations. Boards are given a choice between proving their risk management programs are effective or disclosing their ineffectiveness in risk management to the public. If they do neither, it is considered fraud, as not knowing about a risk is no longer a defense.
What does enterprise risk management effectiveness mean? No
Risk management can be a paradox in nature and this often leads entire communities, perhaps society at large, to entertain red herring solutions for systemic threats.
Today, I can see at least three man made ills which may be killing us broadly and as a global community in the long term. We should perhaps rethink carefully what we are trying to achieve at times because we may just find our first desperate attempts to resolve the unwanted, could result in dilemmas that are far worse than the shor
Date: Thursday November 8th, 2012
Time: 1:00 pm eastern, 10:00 am pacific
Early in 2012, SAP commissioned an independent study to understand how companies are preventing access risk and fraud. A vast majority of the 183 research respondents confirmed that managing access risks were "very" or "extremely" important to senior leadership in their organizations. Yet the same group found it challenging to establish and maintain a program for
This little blog stems from a question I read in a LinkedIn Group. The question was “Should risks be always stated in a negative manner?”
My view is that it doesn’t really matter as long as everyone involved accepts that risk is not only about the downside. As most modern definitions of risk refer either specifically (ISO 31000) or by inference to risk being about managing the uncertainty around our objectives, it follows that risk management is about achieving and hopefully exceeding our obje
A chemical plant explosion in Japan on Sunday shows the consequences of poor risk management in a really personal way. The Nippon Shokubai Co. produces a chemical that is a critical link in the supply chain for one-fifth of all the world's diapers. A diaper shortage is expected.
One, where was the risk management program to prevent the explosion? As is always with these things, in the next 6 weeks, evidence of an employee warning their management about conditions that could result in an explosion
In order to monitor systemic risks as near to real-time as possible regulators have introduced the requirement for market participants to report all OTC derivatives trading activity to swap data repositories (SDR).The aim is to boost transparency and surveillance capability. The idea is strikingly elegant, yet fraught with complexity when it comes to application by market participants.
The reporting is mandated through Dodd-Frank and EMIR. SDRs need to be registered with the respective authoritie
Don’t miss out on hearing keynote presentations from Google, TiVo, Walmart Labs and many more at the Predictive Analytics Innovation Summit taking place in Chicago, November 15 & 16.
This summit is set to bring together the industry’s most forward-thinking analytics professionals in an event acclaimed for its interactive format.
Take a look at the agenda here: http://analytics.theiegroup.com/pa-chicago/program
Confirmed speakers include:
- Director, Distinguished Architect, Walmart Labs
- Senior
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
BrightTALK is turning cloudy this October. We are dedicating a month’s worth of technology summits to the most turbulent IT topic of the decade - cloud computing.
It is difficult to deny the impact cloud computing has had on the IT landscape, with 60% of C-level executives reporting the cloud as their top priority and the market set to grow from $40.7 billion to over $241 billion by 2020.
As the cloud is not blowing over anytime soon, we have put together four individual summits covering cloud inf
Collateral: banks, broker-dealers, funds and clearinghouses all need it more than ever. Collateralisation of bilateral as well as cleared OTC trades is essential to ensure a functioning and stable financial market that is able to absorb potential shocks of Lehman-esque dimensions. Upcoming regulations like Basel III, Dodd-Frank and EMIR and margin requirements for non-centrally-cleared derivatives will enlarge the required collateral pool considerably.
Isn’t there plenty of collateral available a
The world of risk management is continually evolving but where is the next developmental phase for the practice of risk theory?
In my opinion, one area which offers great opportunity is the relatively undiscovered work around event predictability. Let's be real of course, there is no way to predict the future but it might nice to understand the shape of that future.
In this blog, we review the use of the Extensible Markov Model for shaping event clusters.
To continue reading : Continue reading l
Webinar: Debriefing a diagnostic of an organisation’s risk management practices using ISO 31000Rx
Presenter: Dr Dean Myburgh
Time: 9 am Sydney/Brisbane (EST) on 5 October 2012
To register for the webinar: http://www.brighttalk.com/webcast/8271/56441
Following the first two Webinars presented by Dr Dean Myburgh on OD/Diagnostic approaches to risk management implementation and using ISO31000Rx, there is now an opportunity to experience ISO 31000Rx first- hand. Registrants for this Webinar are inv
Despite the current economic turmoil, we have recently witnessed a frenetic race for ultra low latency, privileging speed over costs. But now the reality of these decisions is catching up and trading institutions are finding that the fastest is not always the strongest – much like the hare and the tortoise.
Being lean and controlling costs is a new priority for banks, focusing on their core business. We are seeing major changes in strategy, with organisations moving away from the extremely risky
Melanie Mailly-Demont, a speaker at the marcus evans CFO Summit XXV Fall 2012, on how CFOs can add more value to their organization.
Interview with: Melanie Mailly-Demont, Chief Financial Officer, Infilco Degremont
Las Vegas, NV, September 18, 2012 - FOR IMMEDIATE RELEASE
Chief Financial Officers (CFOs) should not be afraid to ask questions to the experts in the field, advises Melanie Mailly-Demont, Chief Financial Officer, Infilco Degremont. “It is part of the CFO’s role to bring a fresh perspe
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