Most fiduciaries who use target date funds are inviting lawsuits
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Over the weekend while traveling, I was reading Malcolm Gladwell’s Outliers, 
and as coincidence would have it, I hit “Chapter Seven: The Ethnic Theory of Plane Crashes,” at a cruising altitude of 30,000 feet.
The challenge with Enterprise Risk Management is quantifying how many disasters have been prevented due to its efforts. Because of this, there is still skepticism among senior management around exactly how ERM can help to prevent major operational, strategic, regulatory, and reputational di
Colleges and Universities are some of the most at risk institutions when it comes to high profiles failures in risk management. Reputational risk – and remaining off the homepage of CNN – requires an active approach to managing enterprise governance, and most universities are unsure where to start. An Association of Governing Boards of Universities and Colleges (AGB) report finds:
“After five years of change and upheaval, why is it that governing boards of colleges and universities continue to co
By defining a clear statement of risk appetite, the board and executive can establish clear boundaries within which the organization can execute the strategy and manage risk. It also provides the foundation for cascading the strategy and risk management disciplines through the organization, thus shaping the organization culture. Read more in the Risk-Based Performance Management book #RBPM www.riskbasedperformance.com
The new personal, tailored Journey Risk Assessments and Travel Risk Assessments are live
Journey and Travel Risk Assessments.
The new Country Aviation Risk Ratings are Live at www.countryaviationratings.com
The Risk-Based Performance Management (RBPM) book will be launched tonight in London. Register now at http://tinyurl.com/omztc2n to attend.
“The failure to properly evaluate and challenge risk of overall business strategies was probably the biggest intellectual failure of boards, regulators and shareholders.” Lord Turner, Chairman of the UK’s Financial Services Authority. Read more in the Risk-Based Performance Management book #RBPM
The Relevant Bank concept challenges attempts to finish the roof before starting the foundations.
What does being The Relevant Bank actually mean? First and foremost, it means being relevant personally – offering products and services consumers want, at the moments and through the channels they prefer.
For some time, one of the bits of received wisdom in consumer banking circles has been that you focus on high value customers and endeavor to engage them with high value products and services. In it
Hack Wilson was an MLB star in the 1920’s, but he had a drinking problem. Realizing his potential, Hack’s manager pulled him into the dugout and said, “If I drop a worm into a glass of water, it swims around fine. If I drop it into a glass of whiskey, it immediately dies. What does this prove?”
Hack responded, “If you drink whiskey, you’ll never get worms.”
Hack’s observation, while misguided, provides a lesson in the difficulty of training and educating employees. Over the next several weeks, I h
There is growing recognition that the dispersion of credit risk by banks to a broader and more diverse group of investors, rather than warehousing such risk on their balance sheets, has helped make the banking and overall financial system more resilient.
The improved resilience may be seen in fewer bank failures and more consistent credit provision. Consequently the commercial banks may be less vulnerable today to credit or economic shocks. IMF Global Financial Stability Report in April 2006. Re
Currently, the most a British senior can claim in state pension is £113.10 per week, which equates to roughly £452.40 per month. If you're accustomed to living off the income of a full time job, dropping to a state pension can be a real shock to the system. Unfortunately, that's the price we pay for more freedom and a few extra lay ins here and there. Of course, if we've built up a private pension over the years, this can supplement the state pension nicely, but it can still be quite nerve wrack
Where are there more homicides? Detroit or Michigan?
Most people would say Detroit, even though every murder in Detroit also takes place in Michigan. Our initial impressions, even those we have the utmost confidence in, can quickly and easily lead us astray. Avoiding such misconceptions is the value that risk assessments provide ERM programs.
Many risk managers we hear from rightfully criticize risk assessments designed around impact and likelihood to be too subjective, high level, and “fluffy”
The failure to foresee the timing, extent and severity of the crisis and to head it off, while it had many causes, was principally a failure of the collective imagination of many bright people, both in this country and internationally, to understand the risks to the system as a whole. The British Academy on the causes of the Credit Crunch. Read more in the Risk-Based Performance Management book #RBPM
Banks continue to increase their social media presence, especially on Twitter. But for all the talk of 24/7 omnichannel experiences, the number of institutions offering a genuine round the clock, real-time Twitter service to customers remains small. For today’s social-media savvy customer, that simply isn’t good enough.
But things are changing. Nationwide, the UK-based building society, has become the first in the UK market to offer 24/7 Twitter support through ‘@AskNationwide’. This leaves other
Please take part in our latest research project related to the integration of strategy and risk management.
Take the survey at http://fluidsurveys.com/s/integrated-strategy-and-risk-research/
To future economic historians, the Credit Crunch might be the defining moment that separates the industrial age from the networked, digitized (or whatever name they assign to it) era we moved into in the early part of the 21st century. The Risk-Based Performance Management book. #RBPM
Many business cases for Enterprise Risk Management programs begin with what senior management can expect in terms of return on investment (ROI). While ROI may not be the best indicator of ERM success (it’s tough to quantify the monetary value of risks you’ve mitigated), there are simple and direct steps you can take to demonstrate the efficiency your program will gain through the implementation of an ERM system.
On average, risk managers spend 62% of their time on tactical, rather than strategic,
The way that we calculate capital requirements is one of those embedded assumptions that has existed for so long that we fail to think about whether it really makes any sense or not. And if you do stop and take a step back, you will realize that it actually does not necessarily make much sense.
We calculate capital requirements looking backwards, when the thing that we will need capital for is in the future. That backwards capital requirement is only broadly close to being correct for firms th
They say there are two things you can be certain of in life – death and taxes. While you can’t prevent either, you can pay your taxes and you can look after things so that you can take care of yourself as best as possible. What happens if you’re struck down with a very bad illness? What happens to those who are dependent on the income you bring in? Making sure that all your dependants are well-looked after financially is very important and it’s something that we all need to consider at some stag
