Enterprise risk management (ERM) Software helps organizations identify risks in information systems and critical technologies, so the organization can make plans to deal with those risks, document the response when something does happen, and improve [...]
Technology has become increasingly important to the hospitality and FOOD INDUSTRIES. For example, ONE OF EVERY FOUR HOTELS has sought to improve guest experiences by adopting new tech tools and features. Specifically, properties and [...]
Too often companies get stuck “making do” with spreadsheets and other outdated risk management tools because, well, that’s the way it’s always been done.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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
“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 [...]
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 [...]
