FREE BOOK: Guide to effective risk management (20000+ downloads)

Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision. In this free book, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Based on our research and the… Continue reading FREE BOOK: Guide to effective risk management (20000+ downloads)

The Great Debate Part III: Can ERM Realize its Potential in the Real World?

In our first two webinars, our panel discussed the pros and cons of the updated COSO and ISO guidance on effective risk management. They left us with the idea that while both updates are improvements on their prior versions, neither is fully satisfying. In this, the third webinar in the Great Debate series, our panel… Continue reading The Great Debate Part III: Can ERM Realize its Potential in the Real World?

PODCAST: Assess the effect of uncertainty on strategic objectives (part 2)

Podcast: Play in new window | DownloadSubscribe: Android | RSSOnce the strategic objectives have been broken down into more tactical, manageable pieces, risk managers need to use the strategy document, financial model, business plan or the budgeting model to determine key assumptions made by the management. Most assumptions are associated with some form of uncertainty… Continue reading PODCAST: Assess the effect of uncertainty on strategic objectives (part 2)

PODCAST: Assess the effect of uncertainty on strategic objectives (part 1)

Podcast: Play in new window | DownloadSubscribe: Android | RSSOnce the overall framework/standard is agreed upon and signed off by the key stakeholders (very important to get executives to physically sign off and take some responsibility for the agreement that ISO31000:2018 will become the baseline for the risk management within the organization), it is time… Continue reading PODCAST: Assess the effect of uncertainty on strategic objectives (part 1)

What competencies should risk managers outside of banks and insurance companies really have?

Originally written for RM GURU and posted on  http://riskmanagementguru.com/competencies-risk-managers-non-financial-companies-really.html/ Here is also a short video summary of the article: https://www.youtube.com/watch?v=nqmnycKZwgg A while back I saw some discussions about competencies that risk managers should have. Some people talked about empathy and emotional intellect, others about strong communication skills and networking. And I thought to myself, what a… Continue reading What competencies should risk managers outside of banks and insurance companies really have?

UDEMY: Informed risk taking

Good news, first RISK-ACADEMY online course is now on Udemy! This course is not about doing risk assessments, building risk registers, heat maps or risk reports. None of these things have anything to do with proper risk management. This course is about alternative, a different take on risk management. This is what I call risk… Continue reading UDEMY: Informed risk taking

COSO ERM 2017 vs ISO31000:2018

Can one of the documents be more useful than the other? And if yes, useful for whom, risk practitioners, regulators, auditors or consultants? Or have both documents failed to account for the actual growth in the risk management maturity and will be looked at with disappointment by risk professionals? Should you, as a risk practitioner,… Continue reading COSO ERM 2017 vs ISO31000:2018

Practical ideas: CONTINUOUSLY IMPROVE YOUR OWN RISK MANAGEMENT SKILLS

Risk management has evolved significantly over the last 10 years and we probably haven’t seen the last of the changes just yet. Norman Marks recently called for a leap change in risk management guidance. Alex Sidorenko, one of the authors of this guide, has also published a series of articles calling for a major change… Continue reading Practical ideas: CONTINUOUSLY IMPROVE YOUR OWN RISK MANAGEMENT SKILLS

Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

We always encourage risk managers not to reinvent the wheel. Learn from others. Build connections with risk managers from similar companies. A good place to meet similar minded risk managers is the G31000 group on LinkedIn https://www.linkedin.com/groups/1834592. Do not be afraid to share your own experiences or participate in online and face-to-face discussions or initiatives… Continue reading Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

PODCAST: Start by selecting the overall framework and documenting legal requirements 17.05.2018

Podcast: Play in new window | DownloadSubscribe: Android | RSSAs far as international risk management standards go, the best choice for any non-financial organisation is by far the ISO 31000:2018. At the time of writing the standard had been officially translated and adopted in 70+ countries, making it truly global. ISO 31000:2018 is an international… Continue reading PODCAST: Start by selecting the overall framework and documenting legal requirements 17.05.2018