Protivit’s Jim DeLoach discusses the fundamental differences between business planning and strategy setting before offering the place where risk management begins to intersect with performance management.
Strategic risk analysis assists senior management with understanding the critical assumptions underlying the strategy and uses contrarian analysis to challenge those assumptions. Protivit’s Jim DeLoach explains how it works.
When integrating risk with strategy-setting, management should consider two things – risk appetite and an assessment of strategic risks. Today, Protiviti’s Jim DeLoach focuses on defining risk appetite.
When defining an ERM process tailored to the organization’s needs, it helps to have a suitable framework as a point of reference. Otherwise, management begins with a blank sheet of paper and we all know that makes it harder. There are different frameworks from which to choose: COSO Enterprise Risk Management – Integrated Framework, ISO [...]
At times, it is appropriate to step back and reflect on why ERM fails. Below Protiviti’s Jim DeLoach explores 10 common risk management mistakes and how they can be avoided.
Along with process, integration and culture, infrastructure is one of four foundational elements that frame what executive management and directors need to consider when implementing ERM. “Infrastructure” is a scary term for many executives. It conjures images of cumbersome overlays on established management processes. Given the nature of the organization’s risk management process, the core [...]
Four foundational elements frame what executive management and directors need to consider when implementing enterprise risk management (ERM). They are process, integration, culture and infrastructure. After discussing process and integration in the past months, we’re moving forward to culture today. Even the best-designed risk management process can be compromised if dysfunctional organizational behavior exists and [...]
Four foundational elements frame what executive management and directors need to consider when implementing ERM – process, integration, culture and infrastructure. We discuss integration below. The relevance of the risk management process increases if it is integrated with core management processes that truly matter. The idea is to integrate risk management with the rhythm of [...]
Four foundational elements frame what executive management and directors need to consider when evaluating the best way to implement enterprise risk management (ERM). These four elements – process, integration, culture and infrastructure – are intended to be flexible in application because strategies, organizational structures, operating philosophies and risk profiles vary in complexity across industries and [...]
When discussing ERM and how to improve the value it adds to the enterprise, executive management and directors often ask, “Where do we start?” At the heart of this question is the desire for a simple and pragmatic point of view that makes sense in practice. For many companies, risk management has focused on protecting [...]