A critical component of risk management integration is including responsibility and accountability (authority, resources and competence) for managing risks into all business activities. Top management should ensure that the responsibilities and authorities for relevant roles with respect to risk management are assigned and communicated at all levels of the organization. It is quite common to… Continue reading RISK MATURITY: How to integrate risk management into roles and responsibilities
Most modern-day risk managers are familiar with developing a risk management framework or procedure documents. These documents capture risk management roles and responsibilities, outline risk management processes as well as other aspects of risk management. Risk management framework documents became so common, that nowadays they don’t require much effort to develop and there are plenty… Continue reading RISK MATURITY: How to build a risk management framework
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?
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
I feel risk management is on a verge of something interesting, something very exciting at the moment. For a long time, I naively thought that by doing good risk management all the key stakeholders would be satisfied, but the reality is, different stakeholders want completely different things. There is risk management 1 – risk management for… Continue reading RM1 vs RM2 – which side will you choose?
Join us for the second instalment of our three-part series regarding ISO 31000 vs. COSO ERM – The Great Debate. More than 700 people registered for the last debate and hundreds more watched the replay. 17 MAY 2018, 5PM EUROPE REGISTER: https://go.oceg.org/iso-31000-vs-coso-erm-the-great-debate-part-ii-taking-the-right-level-of-the-right-risks-for-success In the Great Debate, the panellists all agreed that decision-making is the heart of… Continue reading ISO 31000 vs. COSO ERM – The Great Debate Part II: Taking the Right Level of the Right Risks for Success
Quite simply, because it is so high level and it has plenty of good messages. High level That’s right. The best thing that ever happened to ISO31000 is the fact that is so ridiculously high-level and doesn’t provide any specific details on the implementation. This is important for 2 reasons: risk management implementation is an art,… Continue reading Why do I love ISO31000:2018?
Yesterday was a great day. I had great fun debating ERM with a good friend, Chris Mandel, SVP Strategic Solutions, Sedgwick and Director, Sedgwick Institute. We started talking about ERM and what it means for business but quickly switched to many other fascinating topics, including integration of risk management, decision making, cognitive biases, quantification, showing risk management… Continue reading The great debate – Alex Sidorenko vs Chris Mandel – is ERM real?
Join Alex Sidorenko from RISK-ACADEMY to talk about pros and cons of COSO ERM 2017 and the upcoming ISO31000:2018. Find out why both standard and framework miss a huge opportunity to better integrate into decision making and move away from flawed qualitative tools and what should you do to help your decision makers take informed… Continue reading COSO ERM:2017 vs ISO31000:2018?