| ERM a Plus in Mideast OutlookRisks in the Middle East are elevated amid concerns about political unrest, but Moody's says that enterprise risk management techniques are easing the pressure. |
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| An Intersection of Finance and RiskRisk awareness runs high at transportation servicer BirdDog Solutions, and risk management is systematic and centralized -- under the chief financial officer. |
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| A Way Forward for Insurance Industry ERMInsurance organizations need to extend their enterprise risk management programs to include emerging risks. |
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| The ERM DifferencePrincipal Financial's CRO and CEO are on the same page when it comes to enterprise risk management and its profit-enhancing and loss-mitigating paybacks. |
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| A Fresh AssessmentTaking a strategy-based approach to risk management enables analysis to concentrate on all risks, including potential black swans, that threaten the achievement of corporate goals. |
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| Building a Holistic Risk CultureProactive identification of risks and engaged, accountable employees who ask the right questions are key components of a strong risk management framework. |
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| Integrated Risk Management at the Department of Homeland SecurityAn insider’s view of the development of an enterprise risk management framework at a critical U.S. Cabinet department. |
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| CROs on the Rise Across the BoardA new global risk management study from Accenture accents the growing organizational importance of risk management and the people who run it. |
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| How Banks Can Confront the UnknownFinancial services firms well understand that they operate in an environment of risk and uncertainty. In recent years, however, a new breed of risk has emerged. |
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| A New Framework for Proactively Monitoring and Managing Firmwide RisksFinancial firms may be able to better anticipate future systemic crises by developing an early warning system -- a complementary approach to traditional techniques used to measure and manage risks. |
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| High StandardAs emerging markets propel Standard Chartered’s earnings to new heights, executives like CRO Jack Niu in China insist on keeping the risk profile in balance. |
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| MF Global RetoolsHalf a year into his tenure at rapidly transforming MF Global, CRO Michael Stockman is monitoring macroeconomic details that might be the seeds for the next financial crisis. |
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| Gifts of SightAccording to experts in corporate planning, multinational enterprises would do well to incorporate systematic scenario planning processes -- the preparation of responses to a wide range of possible market changes and contingencies -- into their overall strategic planning efforts. |
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| Back to ERM BasicsAmong the many risk management lessons of recent years, perhaps the most important is that different types of risk often interconnect, overlap and can even transform from one into another, especially in times of stress. |
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| Nomura Gives Benson Global AuthorityNomura has elevated its chief risk officer, David Benson, to the newly created post of vice chairman, risk and regulatory affairs. His remit: to design and oversee a more coordinated, global approach to public policy and regulation. |
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| A Risk Culture in ActionPNC, which at year-end 2010 was up to $264 billion in assets and reported records in net income and Tier 1 capital ratio, saw a need to add some big-bank risk expertise to its roster and found it in Enrico Dallavecchia. |
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| ERM for the MassesTo JP van Rensburg, enterprise risk management isn’t just for large, diverse, complex corporations. The South African software entrepreneur believes small, medium-size and start-up businesses are ready for a specifically tailored brand of ERM. |
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| Entrepreneur Among EqualsAs is typical of many an entrepreneurial start-up, Markit Group had modest beginnings, but “a big vision,” says chief risk officer Michael Rushmore. |
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| S&P versus ERMAway from the barrage of criticism directed at rating agencies’ alleged contributions to the credit crisis, Standard & Poor’s has been on a mission that has been especially intriguing to the risk management profession. The objective has been elusive for S&P, and its pursuit a circuitous, make-or-break career odyssey for the executive who is championing it, Steven Dreyer. |
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| Defining a Strategic Risk Management Approach: Part 2When business management is motivated to self-assess key risks and integrate conclusions into the business planning and strategy process, then strategic risk management has been achieved. |
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| Defining a Strategic Risk Management ApproachThe credit crisis of 2008 reminded companies, once again, of the importance of risk management. All would agree that risks need to be managed closest to the point of origin, in the line of business. |
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| Risks on the RadarThe financial crisis still looms large over financial institutions and other companies as they try to put the worst behind them and face the future with both optimism and a more sober and realistic perspective on their risks. |
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| Missing Link on the Buy SideJudging from available research, risk management remains a relatively nascent discipline. In an IBM Corp. survey of 1,200 CFOs and other senior finance professionals late last year, barely half said they had formal risk management programs, 45% considered themselves skilled at managing risk and 25% said they conducted risk-adjusted forecasting and planning. |
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| Risk Taxonomy: A Closer Look at IntegrationThe credit crisis has heightened the need for banks to analyze and manage risk in a unified and cohesive manner. To achieve risk integration, a bank must classify its different risks and then figure out how those disciplines interact and how they should be melded into an ERM framework. |
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| A Big Name Begins AnewAn IPO and accompanying reorganization at Visa raised the profile of -- and recast the challenges facing -- Ellen Richey, the company’s global head of enterprise risk. |
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| Ridge on Risk In tune with present-day enterprise risk management, Tom Ridge, former secretary of the DHS, is philosophically holistic, seeing no separation between risk and resiliency concepts and business itself. |
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| Insurers Reap the BenefitsFor insurance companies, losses from structured investments and lower interest rates were a risk managemetn wake-up cal. Now they are giving CROs more latitude and taking a more comprehensive view of enterprise risk. |
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| The M in ERMManagement is effective risk management. Bold statement? Over-simplification? Maybe, but consider the proposition more closely. Effective management in the realm of business involves being concerned with the downside of uncertainty and planning for its potential consequences, while simultaneously understanding whether a course of action will provide long-term benefits. |
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| Repurposing Risk Management: How to Implement a Corporate CultureRisk management is undergoing a revolution. This is necessary, partly because Basel II has thus far failed to achieve the goals of each of its three pillars. |
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| A Metrics-Driven Approach to ERMSometimes it pays to read the inside flap. Enterprise Risk Management: A Methodology for Achieving Strategic Objectives, by Gregory Monahan, is a prime example. In this book, the phrase “enterprise risk management” is not used in the usual sense -- i.e., it is not a discussion around how best to develop a holistic framework to manage market, credit, operational and other such risks. |
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| While Top Jobs Shift, UBS's CRO Soldiers OnZurich-based UBS, reeling from subprime loan losses and laboring to put a customer-secrecy dispute with U.S. tax authorities behind it, has signaled a break from the past with two top-level personnel changes. |
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