Cathy Hauslein - Susser Holdings, Speaker at the marcus evans CFO Summit Fall 2011 in Las Vegas, NV, delivered her presentation entitled Finance is Risky Business: Monitoring and Managing Your Company’s Risk Appetite
This document provides an overview of risk management concepts including enterprise risk management (ERM), own risk and solvency assessment (ORSA), economic capital modeling, continuity analysis, and the role of supervision. It discusses key aspects of ERM frameworks, governance structures, developing risk functions, risk policies, risk profiling processes, and qualitative and quantitative risk evaluation methods. It also outlines the purposes and processes of economic capital models, continuity analysis, and supervisory oversight. Soft skills training is also briefly mentioned.
C-Suite’s Guide to Enterprise Risk Management and Emerging RisksAronson LLC
Significant opportunities remain for organizations to continue to strengthen their approaches to identifying and assessing key risks. This program will provide an overview of Enterprise Risk Management (ERM) best practices and current emerging risks that should be on your radar for 2018.
Watch the complete webinar here: https://aronsonllc.com/c-suites-guide-to-enterprise-risk-management-and-emerging-risks/?sf_data=all&_sft_insight-type=on-demand-webinar
This document summarizes the key concepts of enterprise risk management. It discusses how risk management aims to help organizations achieve their mission and avoid surprises by dealing with uncertainty. The risk management process involves identifying potential risks, evaluating and prioritizing them, selecting risk management techniques, and monitoring risks. The roles of the board, senior management, and risk management committee in the risk management process are also outlined.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises. The goals of crisis management are to reduce tension, demonstrate expertise, control information flow, and manage resources effectively. It also outlines the typical crisis life cycle and challenges of crisis decision making. Finally, it discusses the importance of risk management processes and having a structured approach for each transaction that focuses on understanding the product, customer, deal structure, external risk mitigation, and crisis planning.
A structured approach to Enterprise Risk Management (ERM) and the requirement...Hassan Zaitoun
This document provides a structured approach to implementing enterprise risk management (ERM) based on ISO 31000. It discusses key risk management principles, including defining risk, establishing a risk management process, and creating a risk-aware culture. The document advocates developing a risk architecture, strategy, and protocols to provide proper context for risk activities. It also summarizes ISO 31000's risk management process of risk identification, evaluation, response, resourcing, reaction planning, and reporting.
The role of auditing in the erm processSalih Islam
This document discusses the role of auditing in enterprise risk management (ERM). It provides background on ERM and defines it as a structured, consistent and continuous process for identifying, assessing, and reporting on opportunities and threats that could impact an organization's objectives. The document outlines the ERM process, including determining objectives, identifying risks, assessing impacts, and selecting risk management tools. It discusses how internal auditing can provide independent assurance of ERM effectiveness and the risk management process, while not being responsible for establishing risk appetite or implementing risk responses. It also summarizes the NAIC's risk-focused regulatory surveillance framework and risk classifications.
The importance of risk management in businessr2financial
R2 Financial Technologies provides multi-asset risk analytics and risk intelligence to all sorts of business decision makers. Visit their website today to learn more http://www.r2-financial.com/.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises to minimize damage. The goal is to reduce tension, demonstrate expertise, control information flow, and manage resources effectively. A crisis typically follows a three stage life cycle of the crisis breaking, intensifying, and passing. Good crisis management requires daily risk management processes to identify and address potential issues before they escalate into crises.
This document provides an overview of risk management concepts including enterprise risk management (ERM), own risk and solvency assessment (ORSA), economic capital modeling, continuity analysis, and the role of supervision. It discusses key aspects of ERM frameworks, governance structures, developing risk functions, risk policies, risk profiling processes, and qualitative and quantitative risk evaluation methods. It also outlines the purposes and processes of economic capital models, continuity analysis, and supervisory oversight. Soft skills training is also briefly mentioned.
C-Suite’s Guide to Enterprise Risk Management and Emerging RisksAronson LLC
Significant opportunities remain for organizations to continue to strengthen their approaches to identifying and assessing key risks. This program will provide an overview of Enterprise Risk Management (ERM) best practices and current emerging risks that should be on your radar for 2018.
Watch the complete webinar here: https://aronsonllc.com/c-suites-guide-to-enterprise-risk-management-and-emerging-risks/?sf_data=all&_sft_insight-type=on-demand-webinar
This document summarizes the key concepts of enterprise risk management. It discusses how risk management aims to help organizations achieve their mission and avoid surprises by dealing with uncertainty. The risk management process involves identifying potential risks, evaluating and prioritizing them, selecting risk management techniques, and monitoring risks. The roles of the board, senior management, and risk management committee in the risk management process are also outlined.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises. The goals of crisis management are to reduce tension, demonstrate expertise, control information flow, and manage resources effectively. It also outlines the typical crisis life cycle and challenges of crisis decision making. Finally, it discusses the importance of risk management processes and having a structured approach for each transaction that focuses on understanding the product, customer, deal structure, external risk mitigation, and crisis planning.
A structured approach to Enterprise Risk Management (ERM) and the requirement...Hassan Zaitoun
This document provides a structured approach to implementing enterprise risk management (ERM) based on ISO 31000. It discusses key risk management principles, including defining risk, establishing a risk management process, and creating a risk-aware culture. The document advocates developing a risk architecture, strategy, and protocols to provide proper context for risk activities. It also summarizes ISO 31000's risk management process of risk identification, evaluation, response, resourcing, reaction planning, and reporting.
The role of auditing in the erm processSalih Islam
This document discusses the role of auditing in enterprise risk management (ERM). It provides background on ERM and defines it as a structured, consistent and continuous process for identifying, assessing, and reporting on opportunities and threats that could impact an organization's objectives. The document outlines the ERM process, including determining objectives, identifying risks, assessing impacts, and selecting risk management tools. It discusses how internal auditing can provide independent assurance of ERM effectiveness and the risk management process, while not being responsible for establishing risk appetite or implementing risk responses. It also summarizes the NAIC's risk-focused regulatory surveillance framework and risk classifications.
The importance of risk management in businessr2financial
R2 Financial Technologies provides multi-asset risk analytics and risk intelligence to all sorts of business decision makers. Visit their website today to learn more http://www.r2-financial.com/.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises to minimize damage. The goal is to reduce tension, demonstrate expertise, control information flow, and manage resources effectively. A crisis typically follows a three stage life cycle of the crisis breaking, intensifying, and passing. Good crisis management requires daily risk management processes to identify and address potential issues before they escalate into crises.
Post-crisis regulations have increased capital adequacy and transparency requirements, forcing financial institutions and pension funds to extensively de-risk their portfolios. Robust risk frameworks are needed to ensure risks are well-managed across all assets as balance sheets undergo reductions to meet capital rules, while maintaining revenue. Effective risk management requires frameworks incorporating ownership, integration, alignment, transparency and engagement to allow de-risking strategies to meet regulatory demands while facilitating business needs.
A new emphasis on enterprise risk management from regulators has heightened awareness among bankers to get educated and adopt these best practices at their institution. In response to this increased focus, the RMA ERM Council developed the ERM framework and associated competencies, which became the foundation for a series of highly practical workbooks for implementing effective ERM.
This document provides an overview of a training programme on strategic risk management. It includes an agenda that covers topics such as risk management principles, frameworks, governance, and specific business risks. The aims and objectives of the training are also outlined. Key aspects that will be taught include risk identification and assessment, risk analysis, risk culture, and implementing an effective risk management process. Various risk management models and frameworks are also highlighted such as the COSO enterprise risk management framework. The document provides information on the content to be delivered in the risk management training programme.
The document discusses leveraging enterprise risk management (ERM) and the Own Risk and Solvency Assessment (ORSA) process for strategic value. It notes that ERM can help reduce uncertainty, understand opportunities, and support integrated strategy and risk discipline. The maturity of an organization's ERM capabilities is presented as a journey, with more mature organizations better integrating ERM into strategic decision making. The ultimate value of ERM is linking it to capital planning, decision support, and transparency through the ORSA process.
Presented at the MENA-OECD Business Integrity Training, 22-25 April, Kuwait. Organised by the MENA-OECD Investment Programme in cooperation with the IMF-Middle East Center for Economics and Finance
Enterprise Risk Management and SustainabilityJeff B
An overview of our endeavors at implementing ISO 31000 enterprise risk management and the importance of establishing good risk culture within the company.
This document discusses enterprise risk management and contains activities and content related to risk management. It defines key risk management terms and concepts, outlines the risk management process, and discusses the benefits and relevance of risk management. It also addresses regulatory frameworks, legislative requirements, and key risks associated with ineffective risk management.
How often have you wondered, “what else can go wrong and how are all the risks interconnected?” Developing a risk governance program, a stress testing and scenario analysis program, as well as a risk appetite statement, can help you build an effective, proactive risk management strategy and enhance the risk culture of your institution.
RMA's Risk Appetite Workbook is a practical guide to understanding and developing a risk appetite statement that is appropriate for your bank. Also available are workbooks on Scenario Analysis & Stress Testing for Community Banks, and Governance & Policies.
This document discusses risk management and provides definitions of risk. It summarizes the key steps in the risk management process as establishing context, identifying risks, analyzing risks, evaluating risks, treating risks, and monitoring and reviewing risks on an ongoing basis. Communication and consultation are also emphasized. Various risk management models and the benefits of risk management for organizations are outlined. Myths about risk management are dispelled.
An Enterprise Risk Management (ERM) programme can help organizations achieve strategic objectives more effectively by taking a systematic approach to identifying, assessing, and addressing risks across the whole organization rather than operating in silos. Key aspects of an effective ERM programme include linking risk strategy to business strategy, establishing clear risk management responsibilities, and using risk information to improve decision-making and investment choices. Regular risk assessment and monitoring can optimize risk management and control activities while supporting organizational learning and competitiveness.
This document discusses Aerice Risk Management and the comprehensive risk framework they provide for businesses. It outlines typical issues financial institutions face with risk management like increased regulation and constraints. Aerice offers solutions across key risk areas like credit, market, and operational risk. Their approach follows best practices and reviews all aspects of a company's risk portfolio, people, processes, and systems.
The document discusses the growing partnership between risk management and business continuity management. It provides an overview of risk management concepts and frameworks, outlines the evolution from traditional to more strategic risk management approaches, and examines how risk management and business continuity management have common and overlapping stakeholders and both aim to identify and manage significant events and ensure organizational resilience through coordinated activities.
PECB Webinar: Enterprise Risk Management - Unsuccessful efforts due to lack o...PECB
The webinar covers:
• The start of any ERM Program
• Link between Strategy, ERM and ISO 31000
• Periodic Risk Review – Game Lost
Presenter:
This webinar was presented by Eddie de Vries, a PECB ISO 31000 Certified Risk Manager and Trainer with 20 years’ experience in Quality Management and more than 12 years’ experience in Enterprise Risk Management.
Link of the recorded session published on YouTube: https://youtu.be/UR6ObDfY1QM
Implementation of Enterprise Risk Management with ISO 31000 Risk Management S...PECB
The webinar covers:
• The start of any Enterprise Risk Management Program
• The approach to developing a framework that will assist organizations to integrate RM into their enterprise-wide risk management systems
• The relationship between the foundations of the risk management framework and their objectives
Presenter:
This webinar was presented by M. Youssef K, an executive consultant & trainer with several qualifications. He is an accomplished expert with over 10 years’ experience in the field of risk management, project and program management, PRINCE 2, Agile, EVM, business process analysis and design, as well as operational and organizational excellence.
Link of the recorded session published on YouTube: https://youtu.be/9fO-JqENL0I
Achieving integrated mandatory compliance with ISO 31000PECB
The webinar covers:
• Overview of ISO 31000
• Overview of PCI and HIPAA compliance
• Achieving integrated compliance through ISO 31000
Presenter:
This webinar was presented by Bogdan Dragomir, a security professional with over 24 years of experience in the IT field over 5 years as a Regional Security Manager with Savvis Communications being responsible for leading multiple security initiatives, being trusted adviser for many companies in South and Central US and coordinating penetration testing across US and UK. He is an expert in the area of Risk Management, Integrated Compliance, Secure Architecture Design and Analysis, Incident Management, Security Assessment and Auditing.
Link of the recorded webinar published on YouTube: https://youtu.be/gzwOFKCOYVo
The document discusses enterprise risk management (ERM) and its importance for organizations. ERM involves identifying, assessing, and managing risks across an entire organization in a holistic manner. It helps organizations align strategy and risk appetite, enhance decision making, reduce surprises, seize opportunities, and improve capital allocation to create long-term shareholder value. The document outlines key concepts of ERM including its components, implementation steps, and how it benefits organizations.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises to minimize damage to a company's reputation, profits, and operations. The crisis life cycle has three stages - the crisis breaks, the crisis intensifies, and rebuilding after the crisis passes. Effective crisis management includes good communication, understanding risks, and being prepared to respond quickly to crises.
The purpose of the presentation is to safeguard the organization, its customers, reputation, assets, and stakeholders by identifying and managing risks to meet business objectives in a controlled, responsible, and sustainable manner. Risk assessment involves identifying exposures, assisting with risk-adjusted decisions, and considering the impact of risk management. Quality risk management establishes a common risk framework, defines roles and responsibilities, and provides transparency and oversight of risk practices. Sustainability reporting measures environmental, social, and economic performance indicators related to operations.
This document discusses risk and risk management. It begins with an overview of risk categories and types of organizational risks. It then covers establishing the risk management process, which includes identifying risks, analyzing them, integrating risks, assessing and prioritizing risks, and treating risks. It emphasizes that risk management is an ongoing process that requires monitoring and review. It also discusses risk response options and implementing controls assurance through various lines of defense and independent assurance.
Post-crisis regulations have increased capital adequacy and transparency requirements, forcing financial institutions and pension funds to extensively de-risk their portfolios. Robust risk frameworks are needed to ensure risks are well-managed across all assets as balance sheets undergo reductions to meet capital rules, while maintaining revenue. Effective risk management requires frameworks incorporating ownership, integration, alignment, transparency and engagement to allow de-risking strategies to meet regulatory demands while facilitating business needs.
A new emphasis on enterprise risk management from regulators has heightened awareness among bankers to get educated and adopt these best practices at their institution. In response to this increased focus, the RMA ERM Council developed the ERM framework and associated competencies, which became the foundation for a series of highly practical workbooks for implementing effective ERM.
This document provides an overview of a training programme on strategic risk management. It includes an agenda that covers topics such as risk management principles, frameworks, governance, and specific business risks. The aims and objectives of the training are also outlined. Key aspects that will be taught include risk identification and assessment, risk analysis, risk culture, and implementing an effective risk management process. Various risk management models and frameworks are also highlighted such as the COSO enterprise risk management framework. The document provides information on the content to be delivered in the risk management training programme.
The document discusses leveraging enterprise risk management (ERM) and the Own Risk and Solvency Assessment (ORSA) process for strategic value. It notes that ERM can help reduce uncertainty, understand opportunities, and support integrated strategy and risk discipline. The maturity of an organization's ERM capabilities is presented as a journey, with more mature organizations better integrating ERM into strategic decision making. The ultimate value of ERM is linking it to capital planning, decision support, and transparency through the ORSA process.
Presented at the MENA-OECD Business Integrity Training, 22-25 April, Kuwait. Organised by the MENA-OECD Investment Programme in cooperation with the IMF-Middle East Center for Economics and Finance
Enterprise Risk Management and SustainabilityJeff B
An overview of our endeavors at implementing ISO 31000 enterprise risk management and the importance of establishing good risk culture within the company.
This document discusses enterprise risk management and contains activities and content related to risk management. It defines key risk management terms and concepts, outlines the risk management process, and discusses the benefits and relevance of risk management. It also addresses regulatory frameworks, legislative requirements, and key risks associated with ineffective risk management.
How often have you wondered, “what else can go wrong and how are all the risks interconnected?” Developing a risk governance program, a stress testing and scenario analysis program, as well as a risk appetite statement, can help you build an effective, proactive risk management strategy and enhance the risk culture of your institution.
RMA's Risk Appetite Workbook is a practical guide to understanding and developing a risk appetite statement that is appropriate for your bank. Also available are workbooks on Scenario Analysis & Stress Testing for Community Banks, and Governance & Policies.
This document discusses risk management and provides definitions of risk. It summarizes the key steps in the risk management process as establishing context, identifying risks, analyzing risks, evaluating risks, treating risks, and monitoring and reviewing risks on an ongoing basis. Communication and consultation are also emphasized. Various risk management models and the benefits of risk management for organizations are outlined. Myths about risk management are dispelled.
An Enterprise Risk Management (ERM) programme can help organizations achieve strategic objectives more effectively by taking a systematic approach to identifying, assessing, and addressing risks across the whole organization rather than operating in silos. Key aspects of an effective ERM programme include linking risk strategy to business strategy, establishing clear risk management responsibilities, and using risk information to improve decision-making and investment choices. Regular risk assessment and monitoring can optimize risk management and control activities while supporting organizational learning and competitiveness.
This document discusses Aerice Risk Management and the comprehensive risk framework they provide for businesses. It outlines typical issues financial institutions face with risk management like increased regulation and constraints. Aerice offers solutions across key risk areas like credit, market, and operational risk. Their approach follows best practices and reviews all aspects of a company's risk portfolio, people, processes, and systems.
The document discusses the growing partnership between risk management and business continuity management. It provides an overview of risk management concepts and frameworks, outlines the evolution from traditional to more strategic risk management approaches, and examines how risk management and business continuity management have common and overlapping stakeholders and both aim to identify and manage significant events and ensure organizational resilience through coordinated activities.
PECB Webinar: Enterprise Risk Management - Unsuccessful efforts due to lack o...PECB
The webinar covers:
• The start of any ERM Program
• Link between Strategy, ERM and ISO 31000
• Periodic Risk Review – Game Lost
Presenter:
This webinar was presented by Eddie de Vries, a PECB ISO 31000 Certified Risk Manager and Trainer with 20 years’ experience in Quality Management and more than 12 years’ experience in Enterprise Risk Management.
Link of the recorded session published on YouTube: https://youtu.be/UR6ObDfY1QM
Implementation of Enterprise Risk Management with ISO 31000 Risk Management S...PECB
The webinar covers:
• The start of any Enterprise Risk Management Program
• The approach to developing a framework that will assist organizations to integrate RM into their enterprise-wide risk management systems
• The relationship between the foundations of the risk management framework and their objectives
Presenter:
This webinar was presented by M. Youssef K, an executive consultant & trainer with several qualifications. He is an accomplished expert with over 10 years’ experience in the field of risk management, project and program management, PRINCE 2, Agile, EVM, business process analysis and design, as well as operational and organizational excellence.
Link of the recorded session published on YouTube: https://youtu.be/9fO-JqENL0I
Achieving integrated mandatory compliance with ISO 31000PECB
The webinar covers:
• Overview of ISO 31000
• Overview of PCI and HIPAA compliance
• Achieving integrated compliance through ISO 31000
Presenter:
This webinar was presented by Bogdan Dragomir, a security professional with over 24 years of experience in the IT field over 5 years as a Regional Security Manager with Savvis Communications being responsible for leading multiple security initiatives, being trusted adviser for many companies in South and Central US and coordinating penetration testing across US and UK. He is an expert in the area of Risk Management, Integrated Compliance, Secure Architecture Design and Analysis, Incident Management, Security Assessment and Auditing.
Link of the recorded webinar published on YouTube: https://youtu.be/gzwOFKCOYVo
The document discusses enterprise risk management (ERM) and its importance for organizations. ERM involves identifying, assessing, and managing risks across an entire organization in a holistic manner. It helps organizations align strategy and risk appetite, enhance decision making, reduce surprises, seize opportunities, and improve capital allocation to create long-term shareholder value. The document outlines key concepts of ERM including its components, implementation steps, and how it benefits organizations.
This document discusses crisis and risk management for companies. It defines a crisis as anything that could significantly impact an organization. Crisis management involves identifying potential crises, planning responses, and resolving crises to minimize damage to a company's reputation, profits, and operations. The crisis life cycle has three stages - the crisis breaks, the crisis intensifies, and rebuilding after the crisis passes. Effective crisis management includes good communication, understanding risks, and being prepared to respond quickly to crises.
The purpose of the presentation is to safeguard the organization, its customers, reputation, assets, and stakeholders by identifying and managing risks to meet business objectives in a controlled, responsible, and sustainable manner. Risk assessment involves identifying exposures, assisting with risk-adjusted decisions, and considering the impact of risk management. Quality risk management establishes a common risk framework, defines roles and responsibilities, and provides transparency and oversight of risk practices. Sustainability reporting measures environmental, social, and economic performance indicators related to operations.
This document discusses risk and risk management. It begins with an overview of risk categories and types of organizational risks. It then covers establishing the risk management process, which includes identifying risks, analyzing them, integrating risks, assessing and prioritizing risks, and treating risks. It emphasizes that risk management is an ongoing process that requires monitoring and review. It also discusses risk response options and implementing controls assurance through various lines of defense and independent assurance.
The document discusses risk assessment and management for non-profit organizations. It defines risk as anything that threatens an organization's ability to accomplish its mission and preserve its reputation. The document outlines the board's role in overseeing risk management and delegating detailed risk assessment and mitigation tasks to staff. It also lists some major risks non-profits may encounter, such as loss of funding, fraud, natural disasters, and personal injury. Finally, it categorizes risks into financial, operational, and legal/regulatory types.
Deloitte’s risk management philosophy – Risk Intelligence (RI), focuses on maintaining the right balance between risk and reward. Asking the right questions and finding effective answers to them is critical to developing the right risk management capabilities. Most organizations already have a multitude of Enterprise Risk Management (ERM) practices and processes to address risks but the lack of a strategic view to an ERM program, can expose risk management gaps and redundancies and prevent sufficient insight into key risk interdependencies
MODULE 1:
Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.
Mastering Information Technology Risk ManagementGoutama Bachtiar
This is the presentation slide as part of the courseware utilized when delivering Information Technology Risk Management training - workshop on May 2013.
The document discusses effectively managing risk for boards of trustees. It defines risk and explains why risk management is important. It outlines the risk management process, including identifying risks, assessing impact and probability, prioritizing risks, evaluating controls, and monitoring risks. The document provides examples of risk management practices and discusses the importance of having a clear risk management strategy and culture within an organization. It stresses that risk management should be simple and proportionate for charities.
Rohit Kumar Chawda has over 25 years of experience in risk, compliance, operations, and client servicing for major asset management companies in India. He developed a unique risk framework at Peerless Funds Management Company covering operational, regulatory, reputational, and financial risks across all departments. Riskindia.com provides cost-effective risk management support to asset management companies through training and consultations. They help create risk frameworks and inventories, standard operating procedures, risk assessments and controls, risk dashboards, and action plans to minimize residual risks through continuous engagement. Stakeholders in the risk framework include department heads, risk champions, management, and the risk management committee.
The document outlines Peter Moore's presentation on creating value through enterprise risk management. It discusses barriers to success like poor frameworks and engagement. It also covers risk management frameworks, focusing on simplicity and intuitiveness. Other sections explain risk appetite and tolerance, integrating risk management into business processes, and using key risk indicators to monitor risks. The goal is to establish a clear risk framework that creates value by better informing decision-making and resource allocation.
This document discusses risk management for projects. It begins by defining risk management and outlining the risk management cycle of identifying risks, evaluating them, selecting responses, and then planning, monitoring and reporting on those risks. It then provides more detail on risk principles, identifying types of risks, evaluating risks based on likelihood, impact on time, cost and quality, and selecting appropriate responses. The overall aim is to effectively manage risks to help achieve project objectives.
Risk management involves identifying, assessing, and prioritizing risks. An ideal risk management process prioritizes high-loss, high-probability risks first and works down through lower-level risks. However, balancing risks with a high probability but lower loss versus a higher loss but lower probability risk can be challenging. Effective risk management creates value, is integrated into organizational processes, and explicitly addresses uncertainty in a systematic, transparent, and continually improving manner.
How Risk Management Can Improve Governance And Increase Shareholder ValueRon Harasym
This document discusses best practices for strategic risk management. It recommends taking a comprehensive approach to risk management that improves corporate governance and increases shareholder value. Key aspects of this approach include establishing a robust risk management infrastructure with strong oversight and commitment from senior leadership, clearly defined roles and responsibilities, and policies aligned across levels from the board to individual business units. The goal is to build an effective risk culture through both formal processes and incentives that treat risk management as a partnership between the risk and business teams.
This document discusses incorporating risk management into business continuity planning (BCP). It defines risk and different types of risk including hazard, financial, operational, and strategic risk. It explains that risk management aims to increase success and reduce failure, while business continuity management provides resilience and response capabilities. Key aspects of risk management and business continuity management are compared. Trends in risk management are discussed like more "emergent problems" and the need for comprehensive governance models. The implications for practitioners emphasize adopting risk management as a normal business strategy and gradually increasing testing complexity.
With our experience and our experts, Chappuis Halder & Co would provide appropriate incentives at every level of your organization. It could help you at the time to manage “modern” risk alongside performance
This presentation provides an overview of enterprise risk management (ERM). It defines risk and ERM, outlines the key components of an ERM framework including risk identification, assessment, and response. It discusses the roles of management, the board of directors, and internal auditors in ERM. The presentation traces the evolution of risk management from a focus on hazards to a holistic enterprise-wide approach. It emphasizes that strong internal controls are essential to effective ERM.
Practical approach to Risk Based Internal AuditManoj Agarwal
The document provides an overview of risk based internal auditing. It discusses key concepts like the definition of risk, COSO ERM framework, three lines of defense model, definition of internal audit, and risk based internal audit approach. The approach involves identifying the audit universe and processes, risk identification and assessment, risk scoring and heat mapping, developing the risk based internal audit plan, and executing the plan. Various tools for risk based auditing like the audit tracker, audit report templates, and resources are also outlined.
Risk Management Presentation to Doyle Property Clubmarcpreston
Effective risk management for Contractors , Specialist trades, Property Developers and Homeowners.
Spending 80% of the effort to avoid problem arising rather than 80% effort sorting them after the event.
This document provides an overview of ISO 27005, which provides guidelines for information security risk management. It discusses establishing the context for risk management, assessing risks, treating risks, and monitoring the risk management process on an ongoing basis. Key activities covered include risk identification, analysis, evaluation, and acceptance criteria. Qualitative and quantitative risk analysis methodologies are described. The goal is to take a systematic approach to identify security needs and risks in order to create an effective information security management system.
Audit Audit Commite And Risk ManagementManoj Agarwal
The document discusses audit, risk management, and the role of the audit committee. It provides definitions of risk, audit, and the audit committee. It outlines the classification of risks into strategic, operational, and compliance risks. It describes the expectations from effective risk management, including avoiding surprises, protecting reputation, and informed decision making. It summarizes the role of the audit committee in overseeing financial reporting, internal controls, and risk management policies.
Similar to Finance is Risky Business: Monitoring and Managing Your Company’s Risk Appetite - Cathy Hauslein, Susser Holdings (20)
Ahead of the marcus evans CFO Summit 2024, Erik Saito discusses what technology CFOs can utilise to improve financial reporting accuracy, make more strategic decisions and mitigate risks.
Ahead of the marcus evans Chief Procurement Officer Summit 2023, read here an interview with Ward Karson discussing what tools CPOs can utilize to deliver improved performance.
Michael McRoberts and George Skillin of Chartertech Pty Ltd, a sponsor company at the marcus evans CFO Summit 2023, discuss how financial processes can improve with tools such as RPA and AI.
Ahead of the marcus evans Chief Procurement Officer Summit 2023, read here an interview with Jag Lamba discussing process adaptability and how CPOs need to prepare for what lies ahead.
Lutz Finger, President, Product & Development at Marpai, an AI-powered health plan services provider (Third Party Administrator for Self-funded health plans), was interviewed ahead of the marcus evans CFO Summit XLI 2022, and discusses how CFOs can leverage the power of the most advanced AI to create the healthiest member population with the greatest cost efficiency within their health plan budget.
Ahead of the marcus evans Chief Procurement Officer Summit 2022, read here an interview with Cary David discussing how the supply chain function can be the engine for change in a growing company.
Ahead of the marcus evans Tax Officers Summit 2022, read here an interview with Robert Lenius discussing the opportunities and capabilities available to the tax function today.
Ahead of the marcus evans Chief Procurement Officer Summit 2022, read here an interview with Ward Karson discussing strategies for CPOs to succeed on the digital procurement journey.
Ahead of the marcus evans Tax Officers Summit 2022, read here an interview with Chris Roetheli on what strategies and programs would help the tax function drive ESG impact.
The document discusses the global CFO's vision for digitization at McDonald's division of Coca-Cola. It outlines goals to grow externally with customers through digitization, be more agile and productive internally through technology, and promote digital efforts across the organization by maintaining innovative finance teams and driving cultural change. The CFO believes digital transformation is key and shares this vision in hopes of answering any questions.
Dual Keynote Presentation delivered by Dr Mark Frigo, Director, Center for Strategy, Execution & Valuation; Strategic Risk Management Lab, DePaul University and E. Terry Groff, Former CEO & President, Reading Bakery Systems at the marcus evans CFO Summit Spring 2019 held in Palm Beach, FL
The document discusses the digital transformation journey of The Coca-Cola Company from the perspective of Victor C. Barnes, Global CFO of McDonald's Division at Coca-Cola. Some key points discussed include:
- Coca-Cola's transformation has involved moving servers to the cloud, developing cloud-based systems for financial reporting and forecasting, and various groups pushing the agenda forward independently.
- Barnes emphasizes the importance of learning from others through networking, as well as ensuring data integrity, governance and clean data as transformations are implemented.
- Primary challenges have been around data ownership and quality, which must be addressed for digital projects to succeed. Steering committees have been created to facilitate collaboration around transformations.
The document discusses the digital transformation journey of The Coca-Cola Company from the perspective of Victor C. Barnes, Global CFO of McDonald's Division at Coca-Cola. Some key points discussed include:
- Coca-Cola's transformation has involved moving servers to the cloud, developing cloud-based systems, and automating manual processes.
- Barnes emphasizes the importance of addressing human factors like understanding the need for change, nurturing networks across teams, and dealing with challenges like data integrity.
- Lessons learned are to learn from others undertaking digital transformations, get data in the cloud, push for transparency, and apply technologies intelligently through collaboration.
Rio Tinto is a world leader in mining and metals that produces materials essential for modern life. The presentation discusses how automation can help Rio Tinto capture value and address disruption in the mining industry. Specifically, it provides examples of Rio Tinto's automation initiatives including autonomous trucks that have hauled over 1 billion tons of ore, autonomous drilling rigs, and its Mine of the Future which uses integrated automation and simulation systems. The presentation closes by asking CFOs to consider questions around what should be built internally versus outsourced, and ensuring the total cost of ownership and cost of change are accounted for with automation.
The document discusses the transformation of Mirvac Group's finance department over 5 years. It implemented several changes to processes, technology, and skills:
- Standardized and optimized processes, reducing documents by 50% and implementing robotic process automation. This freed up staff for new analytics roles.
- Established a cross-functional business intelligence center of excellence to lead the development of analytics capabilities across the business.
- Grew its analytics maturity from basic reporting to predictive modeling, gaining insights to make better strategic decisions.
- Metrics show increasing BI usage and a focus on value-driven outcomes over just implementing new technologies. This supported narrowing EPS guidance and improved employee engagement.
This document summarizes Peter Deans' presentation on addressing strategic business risks at the 2019 CFO Summit. It discusses the complex operating environment banks face with multiple regulatory, macroeconomic, client, and technological risks. It outlines Bank of Queensland's approach to identifying and managing strategic risks through a dynamic risk assessment process, strategic risk review, and ongoing executive review. Key emerging strategic risks identified include sovereign risk, liquidity and funding risk, talent risk, cyber security and data risk, conduct and reputation risk, and climate change risk. The presentation emphasizes the importance of institutionalizing a risk appetite framework and culture to help banks navigate the challenging risk environment.
This document discusses driving meaningful change through aligning personal and company values. It highlights key drivers of value creation such as innovation, operational efficiency, brand differentiation, risk mitigation, and talent attraction and retention. The document also discusses picking personal values and provides examples like integrity, contribution, love, friendship, and purpose. After attending a summit, the Coty delegation was inspired and motivated to brainstorm ideas, share documents to consolidate considerations, and work in groups on proposed initiatives.
This document summarizes the financial performance of Sportsbet and Paddy Power Betfair in Australia from 2017 to 2018. It shows key metrics like amounts staked, net revenue, operating costs, and EBITDA. It also discusses Sportsbet and PPB's forecasting process, the competitive environment in the betting industry, increasing regulation around betting restrictions, taxes and fees, and advertising. Additional sections cover promotional spending, competitor activity, customer margin, channel mix, and factors considered in net revenue forecasting like the sporting calendar and marketing plans.
The document discusses HCL Technologies' global procurement services organizational structure and operating models. It explores different options for structuring procurement teams across categories, geographies, and delivery models. The models proposed include a combination of functional, global, and category-aligned client-facing technology teams, with mostly offshore business services teams and regional contingent labor teams. Career progression opportunities within the procurement organization are also outlined.
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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Finance is Risky Business: Monitoring and Managing Your Company’s Risk Appetite - Cathy Hauslein, Susser Holdings
1. Finance Is Risky Business
Managing Your Company’s Risk Appetite
Cathy Hauslein, VP-Controller
Susser Holdings Corp.
1
2. What is Risk Management
• Risk Management is the process of
analyzing exposure to risk and
determining how best to handle such
exposure.
• Enterprise Risk Management (ERM) seeks
to strategically consider the interactive
effects of various risk events with the goal
of balancing an enterprise’s portfolio of
risks to be within the stakeholders’
appetite for risk.
2
3. Strategic Risk Management Characteristics
1. Alignment with a commitment to ethically
create shareholder value – focus on the
upside of risk.
2. Use of a holistic approach that is broad
enough to encompass the spectrum of
entity-wide activities needed to achieve an
organization’s strategy.
3. Approach must be capable of identifying
and evaluating events and forces of change
– must be a continual, ongoing process.
3
4. Evaluating Strategic Business Risk
1. Understand the entity’s key strategies
that are designed to preserve and create
stakeholder value.
2. Identify the risk-how poorly a strategy will
perform if the ‘wrong’ scenario occurs.
3. Define an overriding risk management
goal-what is the entity’s risk appetite.
4
5. There is nothing more crucial to the success of ERM
efforts in an organization than an informed and
supportive culture.
5
6. Risk Management Process
• Context
• Risk Assessment
– Risk Identification
– Risk Analysis
– Risk Evaluation
• Risk Treatment
• Monitoring and Review
• Communication and Consultation
• Recording the Risk Management Process
6
7. Risk Management Process
• Context
– The organization-wide risk appetite is
formulated and the risk management
environment of the organization is defined.
– Context looks at the
laws, market, economy, culture, regulations, t
echnology, natural environment, stakeholders’
needs, issues, and concerns.
– Main output of context is the risk criteria to be
used to determine the acceptability of risks.
7
9. Types of Risk to be Evaluated
• Shareholder value risk • Brand risk
• Financial reporting risk • Partnering risk
• Governance risk • Supply chain risk
• Customer and market risk • Employee engagement
• Operations risk risk
• Innovation risk • R&D risk
• Communications risk
9
10. Risk Management Process
• Risk Assessment
– Risk Analysis – To provide the decision maker
with sufficient understanding of the risk that
they are satisfied they have sufficient
knowledge about the risk to make decisions
on risk treatment and acceptance.
– Risk Evaluation – Comparing residual risk
after risk treatment (Impact) against the risk
criteria (Likelihood).
10
12. Risk Management Process
• Risk Treatment – Identification, selection
and implementation of control options.
• Monitoring and Review – Key to the
continuous improvement of risk
management.
– Key Risk Indicators (KRI’s)
• Human Resource
• Information Technology
• Finance
• Legal/Compliance
• Audit
12
13. Risk Management Process
• Communication and Consultation –
Extensive communication among team
members and consultations with other
experts in the organization.
• Recording the Risk Management Process
– Provide for traceability of
decisions, continuous improvement in risk
management, data for other management
activities, and legal and regulatory
requirements.
13