Enterprise risk management

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  • 1. Enterprise Risk Management Suddenly everything changes Wilson Fyffe President The Futurist Institute Singapore March 2014 1 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves
  • 2. The 5 most important messages 1. 2. 3. 4. 5. 2 ERM is now delegated from the CEO ERM is a rapidly expanding topic Rapid ERM education tools are available online The Enterprise Risk Profile can be reduced to a single value ERM well done can be an asset (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves
  • 3. ERM is now delegated from the CEO Publicly listed companies in the USA are required to declare risks in their annual reports (“Form 10-k”) 2. Many major organizations have risk management committees 3. The “Chief Risk Officer” role is becoming more common 4. ERM is now appearing in the responsibilities lists of many operations executives 1. 3 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves
  • 4. ERM is a rapidly expanding topic  The probability mathematics developed in the 17th and 18th centuries by Pascal, Fermat and the Bernoulli brothers, James and Nicholas, led to the formation of risk insurance organizations such as Lloyds of London.  Understanding the chances of success of trading ships’ voyages allowed greater investment in the shipping industry  This has led to a very large community of ERM professionals and a demand for assistance from IT 4 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves
  • 5. Rapid ERM education tools are available online An online solution available from Amplios Group:  A database of thousands of future events complete with source references  The probability of occurrence of future events X their impact on our business case gives us the relative weighted outcomes.  These can be assigned positive or negative values  The events can be color coded to show our degree of control 5 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves <<< Negative | Positive >>> We can communicate the overall sense of risk with a bar chart like the above
  • 6. Rapid ERM education tools are available online . . . The service accommodates > 1,000 topics X > 500 locations X >20 languages Global issues Country issues 6 Local issues Copyright 2014 Amplios Consultants Pte Ltd. (c) All rights reserves
  • 7. Rapid ERM education tools are available online . . . 7 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves The graph gives an overall sense of risk for this particular investment scenario. The overall weighted impact reduces the scenario to a single value. The future events and their values can be changed online, giving an alternate scenario.
  • 8. ERM well done can be an asset  It gets all your stakeholders and management on the same page  Is an important ingredient in talent management, in particular attraction of new employees  Shareholders, both private and public, place a high value on the organization’s performance here 8 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves Our Amplios ERM methodology was featured recently by the Switzerland-based futurist Woody Wade
  • 9. Thank you for your visit To contact us, please Visit our website: Web: www.amplios.net Email us at: ERM@amplios.net Attention: Wilson Fyffe President 9 (c) Copyright 2014 Amplios Consultants Pte Ltd. All rights reserves