Is Operational Risk Management A Profession Or A Skillset?
Operational risk deals with the uncertainties the organisation faces in its day-to-day business activities. This may include a range of happenings spanning equipment breakdown, insubordinate staff and non-compliance with internal procedures; to problems that are the result of external events, such as natural disasters; to political unrest in neighbouring countries
Directors’ Guide To Risk Maturity Framework
Risk management is generally well understood by most levels in an organisation; risk maturity is now fast catching up, particularly among the Board and senior management who understand the dynamic nature of risk. Having set in place the necessary risk management processes and procedures, they and the firm need to
Establishing An Empowered Audit Committee
The audit committee is both a hard act to establish and follow. Imagine having to go over every procedure, process and system in minute detail, looking for irregularities; reviewing findings of investigations into failures of internal controls; and constantly trying to ensure everything is operating as it should be. Whatever
Business Continuity Management Plans
Business disruptions can happen anywhere, anytime, in any location. Bad weather, interruptions in the supply chain, systems hacking, disruption to utilities, pandemics, earthquakes, volcanic eruptions or even political events beyond the organisation’s control – all these are major disrupters of business. They cannot be predicted but businesses have to be
ERM 2021: Best Practices
When the pandemic was announced, a lot of companies went into a tailspin. Even banks – which are usually well attuned to risks in their environment – were stunned at its magnitude, and the devastating global impact that it had in such a short time. But this should not have
MCCG 2021 – Much Ado About Nothing?
With the latest version of the Malaysian Code of Corporate Governance (MCCG 2021), the focus of corporate governance has shifted more concertedly to the aspect of CARE. This was evident from the previous iteration of the Code but the sharper focus of MCCG 2021 is intended to build stakeholder confidence.
What Is The Relationship Between Enterprise Risk Management & Corporate Performance?
Despite the proven effectiveness of Enterprise Risk Management (ERM) and the pivotal role of risk management professionals, many companies have yet to fully embrace ERM practices or integrate them into their strategies, policies, frameworks and processes. This reluctance may be attributed to a lack of understanding resulting in the difficulty
Corporate Governance: It’s Not Just About The Codes
Found in more than 140 countries today, codes of corporate governance were originally developed to complement the regulations already existing in their respective jurisdictions, in the areas of corporate law, regulations and governance. They were fairly flexible so as not to stifle business, yet strict enough to keep organisations responsible
Corporate Ethics: How Does It Impact Organisational Sustainability?
What makes an organisation sustainable? Businesses carry on as long as they have people to buy their products and services. But nowadays, how these businesses put together those products and services are becoming of interest to groups of stakeholders who are not necessarily financially invested in the business but are
Project Management VS Project Risk Management: Is There A Difference?
Project Management (PM) generally covers the management of the tools and resources, including talent, skills, techniques and knowledge, that a project requires. It involves the planning and management of all matters relating to the project in order that the project is successfully completed, or attains its stated objectives. Project managers