Top 5 Risk Management Tools
Too often companies get stuck “making do” with spreadsheets and other outdated risk management tools because, well, that’s the way it’s always been done. Having the right tool makes any job easier -- and managing [...]
How to Use a Risk Maturity Model to Level Up
A risk maturity model is a tool to assess the effectiveness of an organization’s risk management efforts. In other words, how well do your functions and processes enable risk-aware decisions that support key enterprise [...]
Top Insurance Industry Trends for 2023
From the initial and ongoing impact of the pandemic to geopolitical conflicts that continue to play out in today’s headlines, monumental challenges over the past several years have forced insurance carriers and the industry [...]
Risk Appetite: Know How Hungry Your Company Is for Risk
Determining the risk appetite for your business is critical to organizational success. Risk appetite is what gives senior management the necessary guardrails in managing risk exposure from the top-down. The challenge, however, is that [...]
Eight good reasons to manage operational risk appetite
Risk appetite. Risk tolerance. You’ll be familiar with the terms, but how do they differ? Are they in fact interchangeable, since both can influence business decision-making? The Government Finance Function* provides a simple definition that [...]
Using Scenario Analysis to Assess Operational Risk
Embrace Scenario Analysis, Stress and Reverse Stress Testing Assessing operational risk accurately is not without challenge, particularly when only limited data is available on risk probability and impact. And even if trend data can be [...]
Yorkshire Building Society – Case Study
Operating one integrated Governance, Risk and Compliance system to store, maintain and manage the Society’s risk assessment and assurance data INDUSTRY Financial Services LOCATION United Kingdom NUMBER OF EMPLOYEES c.3000 The Background Founded in 1864, [...]
“Management is blind without access to the right metrics”
Risk data provides organizations with the opportunity to leverage information that will help to drive a more robust operational risk management (ORM) program, embedded within an effective enterprise risk management (ERM) framework. The imperative therefore [...]
Risk Appetite and Key Risk Indicators
“The financial industry has demonstrated exceptional resilience in the wake of COVID-19 and should be praised for that. Much is, however, still to be strengthened at all levels, and learnings from the past year [...]
Risk and Control Self Assessment – demystifying the methodology
No operational risk management framework is complete without Risk and Control Self Assessment (RCSA). This empowering technique, utilized by staff at all levels and across a wide range of organizations for identifying risks and evaluating [...]
LME Implements Riskonnect GRC to Strengthen the Connection Between Risk and Compliance
Download the Case Study London Metal Exchange World center for trading industrial metals Founded 1877 500+ global networks 3.5 billion tons traded annually Challenge London Metal Exchange was looking to strengthen the connection between [...]
FINANCIAL SERVICES FIRMS: 10 QUESTIONS TO ASK ERM SOFTWARE VENDORS
Enterprise risk management programs are becoming increasingly critical for financial services firms under pressure from regulators to upgrade the way risk is managed. And technology is key. Today’s ERM software can break down silos [...]
