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Mark Twain once observed that there was a difference between Lightning and Lightning Bug. An important difference.

The difference between the almost right word & the right word is really a large matter–it’s the difference betweenthe lightning bug and the lightning.

Might there be a similar difference between Risk Management System and Risk Management?

A Risk Management System is composed of org charts, policy statements, Reports, meetings,committees, computer models, powerpointsand dashboards.

Risk

"Your brand is created out of customer contact and the experience your customers have of you" - Stelios Haji-Ioannou, Chairman, EasyGroup

The risk management departments are sometimes perceived in negative light due to their role in the organization. The business operation teams view the risk management departments as office police, watch dogs, critics and messengers of bad news. The basic job function of the risk management departments is to:

1. Conduct audits and reviews of business operations and

Many states are enacting data breach notification laws, but Connecticut is the first state to have its insurance department get involved, enacting what is known as Bulletin IC-25. Wanting to know more about this recent development, I contacted Ed Goodman, chief privacy officer at Identity Theft 911. Below is our exchange:

What is Bulletin IC-25?

EG: On August 18, 2010, the Connecticut Insurance Department issued Bulletin IC-25. Bulletin IC-25 covers the handling of information security incidents t

Risk management approach depends upon who you talk to - project managers have a different view from financial analysts who have a different approach from actuarties and so on. This can result in multiple and sometimes contradictory conclusions about the assessment of the risk of an event.

We frequently get questions about how complexity management is different from risk management. Luckily, complexity management does not suffer from this problem of diversity of opinions! But we believe that that

Well, if you do not, pay attention. Here is a 6 step checklist for what to do:

1. Signal your Buddy.
2. Get close with your Buddy.
3. Link your arms through his/her straps.
4. Open his/her chute.
5. Let your Buddy steer the chute.
6. Suggest that he/she look for an extra soft place to land (water).

There now. Don’t you feel safer?

You say you do not parachute jump? So what good it this?

Well, you must see that this is really good advice that can be applied

Despite recent news reports that the Basel III liquidity requirements are to be pared back, financial institutions are still facing vast regulatory challenges. They already have to hold more capital and liquidity, as well as report on this daily. Going forward, institutions will also have to demonstrate the processes and controls used to put together reliable information. Never before have risk and data management been so interwoven.

The real challenges facing institutions looking to showcase the

We are SMART INVESTMENT GROUP LIMITED LIABILITY CORPORATION. This company was the brainchild and was founded by a group of really talented real estate professionals focusing on the goal of enabling financial independence through sound financial planning and real estate investment.

Today SMART INVESTMENT GROUP is a global company with an excellent reputation for getting results. We have become a leading provider of services to individuals and companies in the areas of Mortgage Services, Credit Ser

Why should organizations be concerned about Reputation Risk?

As the world become more and more networked, more and more companies are exposed to a changing set of vulnerabilities. The landscape of risk has changed. No longer can any country or organization ignore the
happenings of 911, Bali and London.

In this new world, incidents can damage a good reputation purely because an organization can take too long to act decisively with problems. For instance a reputation damaging incident can become inte

First they need to have a product or service that people will buy. They need revenues.

Second they need to have the ability to provide that product or service at a cost less than what their customers will pay. They needprofits.

Once they have revenues and profits, their business is a valuable asset. So third, they need to have a system to avoid losing that assetbecause of unforeseen adverse experience. They need risk management.

So Risk Management is the third most important need of a firm.

And ther

For many risk managers, the recent financial meltdown has left them questioning the veryessence of risk modeling, used by many since the 1990s to measure their firm’sfinancial risk. Investment firms have traditionally relied on fantasticallycomplex mathematical models for measuring the associated risk in their variousportfolios, primarily to reassure investors that all is well. However, theworldwide events of the past 18 months have, arguably, left the reputation of riskmodeling in tatters. Here

Most of Europe's biggest banks comfortably passed the Committeeof European Banking Supervisors’ recentstress tests and the sector has breathed a visible sigh of relief. However,plenty of uncertainty remains over banks that either squeaked by with justenough capital or passed but did not fully disclose the data that went intotheir calculations. The spectre of counterparty risk, last seen in dramaticform in the wake of the Lehman collapse, is not far from regulators’ andinvestors’ minds amid the c