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… Continue reading Practical ideas: CONTINUOUSLY IMPROVE YOUR OWN RISK MANAGEMENT SKILLS

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… Continue reading Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

At the risk of sounding controversial, we believe risk managers sometimes need to take responsibility for providing an independent risk analysis not based on the information supplied by the management.… Continue reading Practical ideas: TAKE OWNERSHIP OVER SOME RISK ASSESSMENTS

Risk managers have a unique competency to identify and analyse risks using advanced tools like scenario analysis, sensitivity analysis, decision trees and Monte-Carlo simulations. This toolset can significantly improve business… Continue reading Practical ideas: PROMOTE RISK MANAGEMENT AS A SERVICE

Risk managers can bring a lot of value to the company by informing management about emerging risks. To do this, risk managers need to establish procedures for scanning the external… Continue reading Practical ideas: INFORM MANAGEMENT ABOUT EMERGING RISKS

Validating management assumptions is probably the single most important value a risk manager can bring to his / her company. As companies and markets are becoming more interdependent, an issue… Continue reading Practical ideas: VALIDATE MANAGEMENT ASSUMPTIONS

Risks rarely happen overnight. There are usually signals, warning signs. Despite their best intentions, executives and most certainly the risk manager are often detached from the operational activities. And while… Continue reading Practical ideas: Create simple risk escalation mechanisms

Forget the old-fashioned risk information flows from business units to risk managers who develop risk reports and present them to executives, the audit committee or the Board. There is a… Continue reading Practical ideas: Include risk information into existing internal communication channels

Risk disclosure is very important. Increasingly, stakeholders are expecting companies to test and disclose the effectiveness of not only financial risk management but also other business risks, including market, operational,… Continue reading Practical ideas: Include risk information in the company’s external communication