Appreciating how enterprise risk management works is crucial
Just implementing Enterprise Risk Management (ERM) doesn’t mean that all your organisation’s risks will magically disappear. That’s not how ERM works. It works when you keep working at it. But what does this mean, especially for companies which are convinced that ERM is the way to go, but lack the funds
Pro and Cons of Outsourced vs In-house risk management function
Risk management is best done in-house. Why? Because regardless of whether administrative risk management activities are contracted out to a third party or not, the practical management of risk will ultimately still have to be conducted by the organisation. However, this does not mean that companies should start from scratch where
How can risk managers operationalise strategic risk management?
When coming to grips with strategic risk, it’s helpful to consider why you need to manage it in the first place. After all, you already have a strategy – but what if it doesn’t work? Risk and strategy have a symbiotic relationship. You can’t have one without the other; one drives
Why should risk managers care about investment risk management?
Organisations cannot risk not caring about their investments. All investments, even the bluest of blue chips, carry a degree of risk; and all analysts agree that investment risk can never be eliminated. So the question of whether organisations should care about their investments or not, should not arise. It just
Leveraging on Enterprise Risk Management during the Pandemic
With a world struggling to come to terms with turmoil, issues and challenges abound. No industry has been spared the wrath of Covid-19. Travel has been severely curtailed; no one is flying. Orders for planes have been cancelled. The aviation industry has been completely crippled. Travel restrictions have affected tourism
The gargantuan scope of Operational Risk Management
What constitutes Operational Risk (OR)? Just about anything. It can be as localised as a plumbing problem that makes the office toilets unusable, or new software that disrupts office systems across the organisation and its subsidiaries in different jurisdictions while making it difficult for customers to transact online. OR can be
Risk Culture: What It’s All About
Shaping the right risk culture is an internal activity which includes integrity, hard controls and the division of duties, internal controls, and soft controls to develop the kind of culture the organisation wants. There should be guidelines for ethics, and staff should be trained and aware of what their rights
Transformation In A VUCA World
How do businesses transform in an environment that is dynamic and uncertain? What do they transform into, when everything appears to be in a state of flux?Business is inherently risky; there is good as well as bad risk everywhere. Additionally, there are massive repercussions because we live in an interconnected
Make The Pandemic Work For You!
We were in a period of global growth when the pandemic hit. Businesses are now either struggling to survive, trying to navigate with resilience or scrambling to respond to emerging threats and opportunities. Uncertainty creates opportunities. Businesses which have prepared themselves to cope with disruption will be able to take
ESG: When People Come First
The novel coronavirus is one in a long line of diseases to afflict the world’s population but Covid-19 is different. It has been affecting people in a different way. Indeed, the pandemic has underscored the material value of the health and contribution of people to business. It has become imperative