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Register (your risks) now!

You have your risk management framework in place but what is the next step? Firstly, well done for getting this far. A lot of hard work goes into a good framework. Now you have to put it into practice.

As part of the risk management plan you will need a log of all the potential risks that might affect your business. A risk register, also known as a risk log, is an important part of a company’s risk planning and helps to fulfil many regulatory requirements. Here is some guidance on what a risk register is and how to develop one.

Topics: enterprise risk management ERM Risk Register

Ransomware – are you managing the IT risks?

The latest cyber- attack, using ransomware in partnership with a worm, has caused havoc across the globe, with Russia, Spain and the UK thought to be the most affected. Europol estimates there are 200,000 victims in 150 countries, although this figure is likely to rise.

Topics: cyber risk Data Security

Why, and how, your organization should stress test its ERM and key business processes

We hear about financial institutions conducting stress tests to assure they have the needed capital and processes in place to weather another crisis in the global financial community. How many organizations test their operational business processes to assure they can withstand serious stress?

Topics: ERM

ISO 31000 explained


ISO defines a risk management framework as “a set of components that provide the foundations and organizational arrangements for designing, implementing, monitoring, reviewing and continually improving risk management throughout the organization”.

Topics: risk management

Risks are changing – are you prepared?

It is said a lot, but we live in an ever-changing world. Just 20 years ago we were watching video tapes, using a signature to authenticate our purchases and had never heard of Facebook or LinkedIn. And that is without mentioning the huge impact the Internet and mobile phones have had.

Topics: insurance act insurance act 2015

The Power of Analytics in Risk Management

Imagine a world of risk management without access to data, analysis and reports. It’s unthinkable. All Risk Managers know that analytics is key to highlighting areas of concern, identifying root causes of claims and accidents and choosing which high impact risk should be their focus.

Topics: risk management predictive analytics analytics Analytics und Reporting

From Start-up to Corporate – How Risk Management Changes in a Growing Company

All businesses have risk, and with many start-ups failing within their first four years, somebody needs to take responsibility for managing risk, even in a small company.

When a start-up makes that all-important decision to grow, there are huge risks to deal with and there are even more on-going risks associated with being a large company. What was a basic risk management solution is now no longer enough – you need an enterprise risk management framework.

Topics: risk management enterprise risk management ERM

Leaving Spreadsheets in the Past

 

I recently read the article “Goodbye Spreadsheets, You’ve Had a Good Run”, by Mary Long.

Topics: RMIS

Risky Business: A Risk Manager’s Introduction to ERM

 

Topics: risk management enterprise risk management ERM

Should Risk Managers be at the forefront of creating company culture?

Corporate culture encompasses brand values, employee attitudes, policies and standards. A company’s risk appetite makes up a huge part of this and the risk management strategy has to be embedded across an organization to ensure a stable business.

Topics: risk management communicating with employees