Technology is truly a double-edged sword. You can’t live without it in today’s business environment but living with it invariably entails coming to grips with all its attendant risks – and there are many! Imagine how liberating it would be, if technology was allowed free reign in support of business
Does the addictive game of Tetris have anything in common with risk management? Surprisingly, yes. Created in the mid-1980s, the game of “falling bricks” originated in Russia but spread globally through Nintendo’s 1989 version of its Game Boy. Nintendo’s inventor, Alexey Pajitnov believes that Tetris fulfils the need to create
Even the experts say that no organisations can operate totally without risk; they also agree that putting risk mitigative measures in place can be an expensive exercise. On top of that, not all measures work, regardless of the effort that has been put into them. So, to all intents and
There are many reasons why companies “sign on” for ERM. One reason may hinge on compliance; they need to show industry regulators that they are indeed doing what they are constrained to do by law. Financial institutions and insurance companies, for instance, are required by the central Bank or other
When the phrase “tone at the top” appears, scepticism about its effectiveness often follows. If all the news, fake or not, is to be believed, the tone at the top – hasn’t been setting the best of examples. Is a major overhaul needed, or will just a little tweaking do?
The road to risk intelligence can be divided into five stages, each reflecting the different parts of an organisation’s journey towards awareness of its particular risks, maturing in its attitudes towards risk and achieving levels of competence in managing this risk through optimising its resources and capabilities. A company’s risk
Hard Fact #1: Fraud can never be totally eliminated from an organisation’s operations. At best, it can be minimised, and its most damaging results mitigated so as to cause as little damage to the organisation as possible. All companies have experienced fraud at some point or another - or they
Enterprise Risk Management (ERM) works best when it has been properly thought through and implemented. Organisations have been trying to identify, assess, prioritise, treat and monitor their risks for many centuries; but today’s risks, of course, are infinitely more complex so it is no wonder that the task of mitigating them