This presentation on Why Distributions Matter may be of interest. In it I highlight the deficiencies of the Cornish Fisher expansion to the Normal Distribution - now widely used by Hedge Funds to include the impact of excess skewness and kurtosis in their Value at Risk (VaR) calculations in the form of 'modified' Value at Risk or mVaR. I show that for just under 50% of all Hedge Funds tested the Cornish Fisher expansion is not appropriate and may give misleading and potentially dangerous VaR est
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DO you have used/excess I.T. or data center gear you would like to liquidate? We can assist, we will return capital to your I.T. budget.
For most risk systems one big selling point is the heat map. It's tidy, it's colorful and in a macabre kind of way; it really energizes management to stare in ore at registered risks in the red zone.
Worthy or not, traditional heat maps distort risk reality, they squeeze risk into a two dimensional perspective that makes the reporting process itself as dangerous as it is useful.
A more light hearted story than yesterday's on airline safetly.
For those that read this story, Oliver previously worked in Risk Management for the Reserve Bank (Australia's central bank).
Oliver is clearly a risk management 'successs story'...
http://www.theage.com.au/executive-style/lucky-poker-ace-takes-16m-prize-20120131-1qqeg.html
All my historic blogs are at http://nigeles.blogspot.com/ - the original blog site covers three main areas of interest namely, public sector IT governance and security, treatment of depression and insomnia and the provision for the disabled in the UK which relates to my daughter's need for managed independent living.
Those blog entries with a more "work" flavour are also on wordpress http://nigelyahoo.wordpress.com/
Most of my comments to date on IT governance, cloud computing and IT security are
While the Davos event kicks on in the background, something worth taking a look at are the reports that have been released on the World Economic Forum's website.
The Insight Report on Global Risks 2012 (seventh edition) is an excellent and well pulled together paper.
Follow this link for more
Be among the first to find out how you can empower everyone in your organization to assemble and analyze information, align decision-making and drive fact-based action - without asking IT to give up necessary control of technology or data.
. Attend the IBM Innovations in Business Analytics Virtual Event.
- Hear DIRECTV explain how infusing analytics throughout their organization has led directly to performance that outpaces their competition
- Learn how to create a powerful, comprehensive business
Recent and ancient history alike are full of failures of companies having disregarded the risks induced by their strategy. No sector is spared and even the most successful executive can trip over. The aggressive strategy by Jon Corzine (former CEO of Goldman Sachs) of turning a US brokerage firm into a “capital markets-focused investment bank” and growing proprietary trading to produce 20% of overall revenues of the firms led, less than 9 months later, to the liquidation of MF Global (October 31
“It's not the things you are afraid of that will kill you” - Mark Twain.
I have fielded a number of calls this week from recruiters looking for someone to implement a GRC process for some company. Before I can ask about firm's board governance towards risk management and accountability, the questions turn to SQL, Java and, well you get the idea. If a firm does not set its overall risk tolerance, understand its risk profile and empower managers who take risk to manage the risk, software isn't goin
In the world of risk 1+1 ≠2 and yet so many executives believe that it does but, while they do our banking risk systems will inevitably continue to fail us. Why are banks risk processes so broken?
Continue reading why 1+1≠2 by following this [ link ].
Providing a holistic overview on the widespread private use by employees and how many businesses embraced social media in their communications
Examining current social media compliance policies with case studies
Potential security risks, phishing scams, malware attacks,
Protection of (fair use of) intellectual property: The need to address the protection of intellectual property in policies and procedures of the proper business use of social media
Analysing the regulatory requirements on the use
Defined Contribution (Def Con) - Part 2
BenefitPlace.biz and BPTradeShow.com present their 2nd Installment of a discussion about an Employee Benefits Strategy, Defined Contribution (Def Con), as it applies to the Employers overall Employee Benefit Plan design. This strategy can provide a methodology for 2012 and Beyond!
Employers, Employees, Brokers, Consultants, and Service Providers can enjoy a "winning" opportunity in these times of Industry Turmoil! Your questions, input and thoughts will
Almost every business leader will say that people are their most important asset, but few do anything about it. If you are going to take this principle seriously then human capital planning is crucial.
The Human Capital Plan is an important tool that organizations use to drive focused actions that can ensure goal achievement and business success. It allows organizations to assess, plan for, and respond proactively to its human capital challenges and needs. It helps shape the organization by buil
The SAS five key credit modelling challenges
With regards to the banking sector, the development, refinement, calibration and validation of internal credit scoring and risk models is an on-going issue.
More can be found [ here ]
As the economic horizon continues to shift and belts tighten, small and medium sized companies — who typically have between 10 to 500 employees and represent 99.7 percent of all employer firms according to the U.S. Small Business Administration (SBA) — may wind up being so focused on core business issues that they overlook one of their most potentially serious and costly issues — human resource compliance. Unlike their large-company counterparts, they lack the time and resources to build infrast
The Costa Concordia, a Carnival Cruise Line owned ship, ran aground resulting in at least 6 deaths. This is a 4,000-passenger, 115,000 -ton cruise mega-ship, with the latest and greatest technology, as it is just 5 years old. As an Enterprise Risk Management (ERM) professional, my forecast is that we will learn over the next six weeks that this is not the first near miss for the Costa Cruises organization, nor the first questionable judgment call by one of their ship's captains. My bet is that o
In this challenging environment, board members and management executives are striving to maintain their tight grip on costs while maintaining a proper focus on enterprise-wide risk.
Jack S. Dybalski is Vice President and Chief Risk Officer at Xcel Energy. He will be a key speaker at the marcus evans 5th Annual Enterprise Risk Management Conference taking place in from March 19-21, 2012 in Chicago, IL.
Jack Dybalski is the Vice President and Chief Risk Officer of Xcel Energy based in Denver, Colora
A couple of days ago a customer asked me, is enterprise risk the end game and after reading a recent question on the Enterprise Risk Management linked-in forum, "Is enterprise risk a journey or a destination?", we have been encouraged to write briefly on this subject.
Is enterprise risk a journey or a destination?
My thoughts specifically can be found at this location [ Link ]
IT risk management is becoming a priority for executives as security breaches and disasters are affecting the bottom line of organizations worldwide. It’s more crucial than ever to build a mature IT risk program and to continually assess it to identify current risks and prepare for potential risks.
Join this summit to learn how to build and maintain an IT risk management program that expands your organization's security and risk posture.
WHEN: All day on January 19, 2012 and anytime afterward
With only 4 weeks left until the Life Sciences Internal Audit Conference, February 8-9, 2012 in Philadelphia, PA, don’t miss out on your opportunity to attend the event!
Join key speakers, including:
Andy Weintraub, Director, Group Internal Audit at AstraZeneca
David Bolton, Internal Audit Manager at Biomet, Inc.
Tami McLaine, Director, Audit at Baxter International
Katie McCormick, Senior Manager, Corporate Analysis & Control at Boston Scientific Corporation
Jeffrey Antoon, Director, Corporate
