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We see a striking contradiction: the sharply increased need for Enterprise Risk Management, while risk managers persistently report low perceived value of their processes. High Quality Risk Assessment addresses uncertainty and helps solve chronic business problems. Join Edward Robertson, successful ERM practitioner and thought leader, to discover a simple process that delivers clear value.
 
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show series
 
SHOW NOTES Introduction The key questions entertained at the level of the C-suite with regard to ERM are likely these three, to which I give an answer in summary: a. What exactly is ERM? Due to uneven development in the field, the definition has to be selected from among many, or created. I offer a carefully crafted definition. b. Is there a verifi…
 
SHOW NOTES Introduction Opportunity, as conceived of in ERM discourse, is discussed. Then we improve upon this by presenting the notion of a structured program for innovation. Main points 1. Opportunity - origin of the idea in ERM 2. Opportunity - how can we make sense of the idea? 3. Opportunity - as innovation 4. Innovation a. an established disc…
 
SHOW NOTES Introduction Due Diligence (defined) and High Quality Risk Assessment: how are they used in a complementary fashion in major projects? Main points 1. Reflections on financial risk management (Ep 17): quote from L. Burke Files. 2. Definition of due diligence. 3. How due diligence is distinct from yet complementary to risk assessment: orde…
 
Episode: 017 Date: Tue 21 Sep 2021 Title: Is Financial Risk Management Equivalent to ERM? EPISODE SUMMARY Enterprise Risk Management, for some, consists solely of Financial Risk Management. Is this sound? We offer commentary on quantitative modelling and its place in ERM. SHOW NOTES Introduction Financial risk management consists of a suite of quan…
 
SHOW NOTES Introduction The curious juxtaposition of need vs poor take-up, as explained in Episode 1. Steps in Analyzing and Fixing Poor Take-Up in ERM Programs 1. Take a step back in order to analyze the situation. 2. What is the nature of the ERM mandate and your role in it? 3. What are the motives of senior executive regarding ERM? 4. What are t…
 
SHOW NOTES Introduction In our last episode, we focused on maintaining a light footprint, as ERM should not be an extraordinary administrative burden. Now let’s continue the story of successful implementation by employing the success factors shown in studies. Summary 1. clear goals and objectives - how to formulate them? 2. senior executive support…
 
SHOW NOTES Introduction How can we roll out Enterprise Risk Management with a minimal footprint? The answer is to use a principles-based approach. Once High Quality Risk Assessment is grasped, we can turn to an implementation that meets crucial criteria efficiently. What is ERM in relation to your entire management practise? 1. value proposition an…
 
SHOW NOTES Introduction So far we have discussed the technique of High Quality Risk Assessment sufficiently to enable initial experimentation. The question then arises: who actually is leading this work? What are the requisite qualifications and background? Is any special training needed? Significance of the Enterprise Risk Management champion - im…
 
SHOW NOTES Facilitating risk assessment Last episode in our our discussion on how to facilitate High Quality Risk Assessment, we covered finer points on how to facilitate the session, as well as the minimum necessary steps to assess risk: Likelihood, Consequence, Existing controls; Tolerance. This methodology is presented as a generic model for you…
 
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