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Risk assessments are plagued by subjectivity which means they simply cannot be relied upon to meet their objective. Subjectivity prevents risk assessments from being used across business silos and makes verification by audit or compliance review impossible. Subjectivity can be overcome by using a risk assessment template framework with the following best practice attributes:

1. Adopt a uniform numerical scale -Use a scale of 1 to 10, Scoring is based on a scale from 1 to 10, with 10 having the most

The use of the term “reputation risk” fits the pattern of hyped buzzwords, but the significant volume of money now spent managing corporate reputation risks proves it is more than hype. Reputation dynamics are forcing pivotal business decisions. Penn State increased its acceptance rate to offset a decline in out-of-state applications and an expected drop in the matriculation rate. Deutsche Bank’s CEO Josef Ackerman refused 3-year loans from the European Central Bank concerned it would damage the

Is your organisation leveraging the competitive advantage of a positive cyber security culture? What is your organisation doing to promote cyber security and support the Government in making the UK the world's leading market place? It’s a fine line between protection and enablement –   how is your organisation dealing with the cultural and behavioural impacts?  

These questions and more were raised at the CYSPEX Cyber Security Breakfast held at the Houses of Parliament on the 1^st March 2012.  It

Risk Appetite Explained
In the face of the many recent failures of financial institutions, following market and asset crises and in the context of mounting regulatory demands from Basel 3, Solvency 2 and Dodd Frank, risk management is a topic high on the executive agenda. In particular, much emphasis has been placed on risk appetite and the role it has to play in an enterprise risk management approach, as part of an overall strategy execution process.

But what is Risk appetite?
First and foremos

"Who is to blame?" How often do we read that line in a newsletter or magazine article about a legal dispute when it all went wrong? Too often, we ignore those little clauses in contracts called indemnities. A slight change in wording in an indemnity can vastly change the circumstances of who pays how much if it does all go horribly wrong. Sometimes the contract gets signed without proper legal review and when we do have legal review, we often suffer from either the Optimism Effect or the Pessimi

It is 8:00pm as the last conversation ends between a Director of Audit and Risk in the Energy sector and an Executive Director in the private equity industry. Although they have only just met, they’ve spent the evening with plenty to talk about, particularly surrounding our first Happy Hour Topic, Strategy and Risk.

At 5:00pm we opened the doors of a quaint London bakery and welcomed professionals from all industries to join us to discuss strategy and risk; three hours on our guests have exchange

We are back as per our commitment that we are going to share the complete series of Google Panda and it’s updates in our previous blog,“What is Google Panda? Implications of Google Panda on web world”. We are going to explore the first Google Panda Update 1.0 in this blog.

Panda Update 1.0 was released back in February 24, 2011 and it was a Big Earthquake for SEO industry. It influenced badly almost 12% of the search queries in the US only. Later Google applied it across the world. It is also kno

Manigentis pleased to announce a successful start to 2012, with two major project wins. One of the projects will be with an Investment Bank assisting them to meet the regulatory obligations from a number of regulators globally, including the FSA here in the UK. The second project is with a legal services regulator with the intention to build additional risk management at a transitional time for the industry, with the introduction of Outcomes-focused Regulation (OFR) and Alternative Business Stru

Andrew Smart, CEO and founder of Manigent, a Strategy and Risk Management consultancy, has recently developed a whitepaper on designing an operational risk appetite statement. This paper outlines a seven step process which enables organisations to deliver an operational risk appetite statement which will meets regulatory obligations while adding real business value. This paper was recently featured in new e-magazine, The Risk Universe, which is a new online publication developed by industry prof

Looking forward to the Asia Risk Professionals Congress in Singapore next week - anyone else attending? Thanks to Boris for the invitation and see you Tuesday!

Learn to integrate high business performance and risk management.

Meet the world’s leading risk experts and industry veterans.

Get up to speed on new, cross-industry risk management tools.

In the pursuit of improving business performance, risks multiply and increase in complexity. How can companies avoid these dangers?

ComplianceOnline, the leading GRC advisory network and regulatory training provider, has teamed up with Risk Luminosity Seminars (RLS) to present the Risk Management Summit: Trans

This white paper presents a low risk, high impact approach to gaining control of regulatory compliance. The procedures, tasks, and behaviors that bear upon compliance can be overwhelming. Yet organizations that can master these activities, operate more efficiently, compete more effectively, and build their brands. Learn how Governance, Risk, and Compliance technologies can help.

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Manigent is pleased to announce a successful start to 2012, with two major project wins. One of the projects will be with an Investment Bank assisting them to meet the regulatory obligations from a number of regulators globally, including the FSA here in the UK. The second project is with a legal services regulator with the intention to build additional risk management at a transitional time for the industry, with the introduction of Outcomes-focused Regulation (OFR) and Alternative Business Str

Many organisations are now using spreadsheets to monitor and manage their risks but research suggests that this could be inefficient and impractical for risk managers.

Software, such as StratexPoint, allows risks, that an organisation face, to be clarified, aligned and effectively managed. StratexSystems believe that every business should be able to execute their business strategy whilst operating within an acceptable level of risk exposure. With a series of easy-to-deploy visual tools, like thos

StratexSystems are pleased to announce the success of one of their key consultancy partners who have seen a 20-30% jump in project productivity through the use of StratexPoint as a project delivery tool. By delivering more for less, over a shorter time frame, the consultancy partner’s clients have seen considerable benefit, as have StratexSystem's consultancy partner, with extended project benefits.

The software solution, StratexPoint, is an integrated strategy execution and risk management solut

Bulgarian Competition  Law is designed to protect and foster competition and free enterprise in economic activity.  Over the years the law was repeatedly changed by the legislature to meet the requirements of economic life.

Bulgarian Competition law provides protection against agreements, decisions and concerted practices, abuse of monopolistic and dominant and all other acts and actions that can lead to the prevention, restriction or distortion of competition in the country and / or affect trade

Australian banks are in for a shakeup. The Reserve Bank of Australia has decided to launch a probe into why Aussie banks keep suffering extreme service outages and APRA, the national regulator has recently finalized its Business Continuity Management guide which must be in place by the 1st of July 2012.

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MYTH: Insurance and Benefits related Trade Shows drive sales for their exhibitors commensurate with their expectations and overhead costs.

I recently wrote a piece for a new risk e-magazine, The Risk Universe on the topic of risk appetite statements. I would be really keen to hear the communities comments/feedback.

The paper is available at http://www.manigent.com/manigent-connect/building-a-robust-operational-risk-appetite-statement.html

I look forward to hearing from you all.