Jim-DeLoach

empty chair

Finding the Right Person to Serve as CRO

A host of factors need to be taken into consideration in the selection of a new Chief Risk Officer. Where his or her experience and expertise lies is certainly top of mind, but more qualitative aspects of the candidates' skill set and capabilities carry weight, as well. How are the prospective hire's critical thinking skills, for instance? ...

execs in boardroom

Positioning the CRO to Succeed

If the CRO or risk leader is to be effective and successful in the organization, he must be given full access to the Board, participate in high-level discussions and strategy setting and seen as an equal to the other C-Suite leaders or executives. The company and its leadership must appear to value the risk management function and enable ...

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Five Risk Categories for Focusing the Board’s Risk Oversight

Many companies have adopted a risk language to facilitate dialogue within the organization regarding their risks. While we are not aware of an authoritative risk language or model, there are a number of risk models in the public domain that can be useful to ensure the completeness of the event categorization and risk assessment processes.

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The Risk Appetite Dialogue

Risk levels and uncertainty change significantly over time. Competitors make new and sometimes unexpected moves on the board, new regulatory mandates complicate the picture ...

blindfolded businesspeople

10 Ways Board Risk Oversight Can Fail

Risk oversight is a top-of-mind issue for boards because of the expectations spawned by the financial crisis and the unanswered questions around what directors might have, or should have, done to thwart that crisis.

Do You Understand Why You Make Money?

A lesson we keep learning time and again is the need for more disciplined risk management during periods of rapid growth and favorable markets. Every MBA program features case studies of companies relearning the time-honored lesson that, while competent people are an important aspect to ...

Alternatives to Traditional Risk Assessments

There are limitations to traditional risk maps, heat maps and risk rankings based on subjective assessments of the severity of the impact of potential future events and their likelihood of occurrence. These limitations include the influence of individual biases and “group think” ...