The document discusses the evolving role of the CFO from financial risk manager to strategic leader in enterprise-wide risk management. It outlines 6 key focus areas for CFOs to play a role in building a risk intelligent organization: 1) Prepare for expected and unexpected risks, 2) Recognize strategy is not fixed and engage in strategic risk conversations, 3) Distinguish vital few risks from trivial many, 4) Determine risk appetite, 5) Manage reputational risks, and 6) Conduct compliance stress tests for operating globally. The CFO's role is important for oversight, risk reporting, and ensuring risks are managed effectively across the organization.
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
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
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.
Enterprise Risk Management - Aligning Risk with Strategy and PerformanceResolver Inc.
COSO, which has provided global thought leadership and guidance on internal control, enterprise risk management, and fraud deterrence for over three decades, recently released a draft update to the original COSO ERM Framework. This framework is widely used by organizations to enhance their ability to manage uncertainty, gauge risk, and increase stakeholder value. However, significant new risks have emerged since the Framework was released, demanding heightened board awareness and oversight of risk management, as well as improved risk reporting. For those organizations exploring ESRM – these themes will be strikingly familiar and the lessons learned, highly relevant.
Presentation by: Bob Hirth, Global Chairman of COSO.
It provides a general overview of enterprise risk management principles which can help to transform corporate from risk exposure to the risk protected. Consideration for basic steps in Risk Management Process are critically and logically analysed
Enterprise Risk Management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization's capital and earnings.
Enterprise Risk Management expands the process to include not just risks associated with accidental losses, but also financial, strategic, operational, and other risks.
In recent years, external factors have fueled a heightened interest by organizations in ERM.
Industry and government regulatory bodies, as well as investors, have begun to scrutinize companies' risk-management policies and procedures.
In an increasing number of industries, boards of directors are required to review and report on the adequacy of risk-management processes in the organizations they administer.
Since they thrive on the business of risk, financial institutions are good examples of companies that can benefit from effective ERM.
Their success depends on striking a balance between enhancing profits and managing risk.
In order for any enterprise to properly, effectively, and prudently manage their future growth, Business Strategy needs to be sustained by modern Enterprise Risk Management (ERM) principles and practices.
The Enterprise Risk Management discipline is not anymore a separate management profession or kinky management way, but rather it is a core competency that all organizations and executives must have in this Global Age. It should be a way of life for all.
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
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
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.
Enterprise Risk Management - Aligning Risk with Strategy and PerformanceResolver Inc.
COSO, which has provided global thought leadership and guidance on internal control, enterprise risk management, and fraud deterrence for over three decades, recently released a draft update to the original COSO ERM Framework. This framework is widely used by organizations to enhance their ability to manage uncertainty, gauge risk, and increase stakeholder value. However, significant new risks have emerged since the Framework was released, demanding heightened board awareness and oversight of risk management, as well as improved risk reporting. For those organizations exploring ESRM – these themes will be strikingly familiar and the lessons learned, highly relevant.
Presentation by: Bob Hirth, Global Chairman of COSO.
It provides a general overview of enterprise risk management principles which can help to transform corporate from risk exposure to the risk protected. Consideration for basic steps in Risk Management Process are critically and logically analysed
Enterprise Risk Management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization's capital and earnings.
Enterprise Risk Management expands the process to include not just risks associated with accidental losses, but also financial, strategic, operational, and other risks.
In recent years, external factors have fueled a heightened interest by organizations in ERM.
Industry and government regulatory bodies, as well as investors, have begun to scrutinize companies' risk-management policies and procedures.
In an increasing number of industries, boards of directors are required to review and report on the adequacy of risk-management processes in the organizations they administer.
Since they thrive on the business of risk, financial institutions are good examples of companies that can benefit from effective ERM.
Their success depends on striking a balance between enhancing profits and managing risk.
In order for any enterprise to properly, effectively, and prudently manage their future growth, Business Strategy needs to be sustained by modern Enterprise Risk Management (ERM) principles and practices.
The Enterprise Risk Management discipline is not anymore a separate management profession or kinky management way, but rather it is a core competency that all organizations and executives must have in this Global Age. It should be a way of life for all.
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 presentation reviews a recent emerging risks survey, including results and how they might be used. The presenter also discusses how an emerging risk strategy is being developed at an existing firm.
Five lines of assurance a new paradigm in internal audit & ermDr. Zar Rdj
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes.
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 presentation reviews a recent emerging risks survey, including results and how they might be used. The presenter also discusses how an emerging risk strategy is being developed at an existing firm.
Five lines of assurance a new paradigm in internal audit & ermDr. Zar Rdj
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes
• Boards are provided with a tangible vehicle to demonstrate they are actively overseeing the company’s “risk appetite framework” (“RAF”)
• The process is designed to fully integrate with strategic planning, new product/service initiatives, and M&A activities.
• The process provides a clear response to emerging expectations like the UK Governance Code, Canadian Securities Administrators, SEC, FSB, credit agencies, institutional investors and TSB.
• The main role of internal audit is to report on the effectiveness of the risk management processes and the consolidated report on residual risk status the board receives from the CEO or his/her designate and to help the company build and maintain robust risk management processes.
Introducing the Professional Service Maturity ModelJeanne Urich
Introducing the leading Professional Service Maturity model used by over 10,000 service and project-oriented organizations to chart their course to service excellence.
The Management of Uncertainty
•It has long been recognized that one of the most important competitive factors for any organization to master is the management of uncertainty.
•Uncertainty is the major intangible factor contributing towards the risk of failure in every process, at every level, in every type of business.
•Managing business uncertainty may involve introducing, developing and implementing strategic enterprise management frameworks for –
–Corporate Foresight and Business Strategy
–Business Planning and Forecasting
–Business Transformation
–Enterprise Architecture
–Enterprise Risk Management
–Enterprise Performance Management
–Enterprise Governance, Reporting and ControlsEAEA
Setting Conduct Risk Appetite. Assessing risk and identifying cultural driver...Compliance Consultant
Conduct Risk is sweeping the financial services world and catching many risk manager out as there is still a lack of understanding.
Risk management need to determine the corporate risk philosophy and appetite. To assess or understand the risk philosophy, try to comprehend the organisation's culture, values and environment. The way business operations are conducted on a daily basis and the organisation’s strategy are typically good indicators where you can find the company risk philosophy. Assess whether business has an aggressive, innovative, typical or conservative attitude towards risks for achieving business goals.
Risk appetite is simply the amount of risk which the organisation is willing to take to undertake business activities and achieve the business objectives, where Conduct Risk is concerned this has to include good customer outcomes. A simple question to ask the board of members could be “What amount of reported mismanagement or public uproar would make you uncomfortable if it appeared in the business newspapers?”
Consolidate the various risk exposures from the risk department's identified risks and present them to the board. Finally, assess whether the company’s internal perception and rhetoric on risk philosophy and appetite are consistent with the board and other stakeholder's viewpoints. Realign the two where required to prepare the annual strategy.
From Bolt-on to Built-inManaging Risk as an Integral Part of Managing an Organization
New Horizons in Corporate Risk Management April 5, 2016 Moscow, Russia
Vincent Tophoff, International Federation of Accountants (IFAC)
Ever wondered what the purpose of risk management is? (No, it's really not to manage risks!) Take a look at our whitepaper on how to get real value out of your risk management arrangements and let me know what you think.
PECB Webinar: Aligning ISO 31000 and Management of Risk MethodologyPECB
The webinar covers:
• ISO 31000 as the adopted standard, for ISO standards that have risk components, such as ISO 27005 and OHSAS 18001
• Description of Management of Risk (MoR) – how organizations can benefit
• Complementary values that ISO 31000 and MoR bring to each other
• How Risk Managers can evolve a practical approach to carrying out Risk Processes
Presenter:
This webinar was presented by PECB Trainer Orlando Olumide Odejide, an experienced Enterprise Architect and Chief Trainer for Training Heights Limited.
CFO Network Event May 2012 - Presentation by David HootonAzure Group
Presentation for CFO Australia network event held in conjunction with the Institute of Chartered Accountants on the impact of the NBN on Australian business
CFO Network Event May 2012 - Presentation by Stephen MyersAzure Group
Presentation for CFO Australia network event held in conjunction with the Institute of Chartered Accountants on the impact of the NBN on Australian business
CFO Network Event May 2012 - Presentation by Paul BrooksAzure Group
Presentation for CFO Australia network event held in conjunction with the Institute of Chartered Accountants on the impact of the NBN on Australian business
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
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Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
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(i.e., industry structure in the language of economics).
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Unveiling the Secrets How Does Generative AI Work.pdf
CFO Risk Intelligence - Harvey Christophers
1. The risk intelligent CFO: The role of the CFO in being a catalyst for enterprise wide risk managementHarvey ChristophersLead Partner Risk Services - Sydney
2. How is risk and the CFO role linked? Evolution of risk intelligence – limitations of conventional risk management CFO’s risk intelligent skills – 6 key focus areas for CFOs Contents
4. Moving from financial risk operator to strategic catalyst for ERMSteward – core financial reporting risksOperator – financial operational risksCatalyst/Strategist – broader ERM role
5. Understanding 3 Lines of Defence and position of ERM Three Lines of Defence Board of Directors Regulators Risks Management 1st Line Corporate - Finance Product Division Subsidiary JV Country Risk Management 2nd Line Operational Risk Compliance Risk Financial Risk Strategic Risk Assurance Providers – IA coordinator role 3rd Line Internal Audit External Audit Safety OHS Other 4
6. Why also important to a CFO Annual report declarations – ASX listing requirement 7.3 and other SEC etc General reporting expectations of the CFO role Part of executive team responsible for oversight
7. Some challenges What is risk management – often a struggle to make relevant to CFOs Very different maturities – what is right for our organisation Link to capital – regulation v good business practice Link to allocation of risk based capital “Handbrake” role
8. 7 Maturity Model Current maturity Industry sector peers Maturity target Maturity assessment
10. CFO Beware - limitations of conventional risk management We seem to have a once-in-a-lifetime crisis every three or four years. Leslie Rahl, Capital Market Risk Advisors Conventional risk management persisted in viewing crises as rare, unpredictable, and too improbable and expensive to plan for It was predicated on a set of assumptions that described an accepted understanding of how ‘the world’ worked Conventional risk management approaches presented probable events that did not occur and improbable events that did It also habitually failed to present or describe those rare and never seen before risks. Why? Impact and likelihood assessments of risk tend to overshadow the process and thinking Individuals, as well as the collective organisation, tend to automatically reject notions that seem to contradict their assumptions and their understanding rely as of how ‘the world’ works Accepting new assumptions is difficult. Most people follow a process of first rejecting, then considering, and finally accepting a new idea. However, sometimes we never make it past the rejection stage.
11. 6 key roles for the CFO to play in building a risk intelligent organisation
12. Prepare for the expected; expect the unexpected Recommendation: Create comprehensive scenario plans CFOs should be vigilant in monitoring the environment for new risks and opportunities. They should also develop a process that assesses relevant, high-impact events - even if they are improbable - and then determine how quickly an event can happen and how swiftly they need to respond. Make sure bad news gets escalated. And don’t become too comfortable with the status quo. 11
13. Are you a Risk Intelligent strategist? Recommendation: Recognize that your strategy is not iron-clad. Regarding risks “to” the strategy, CFOs should engage executive management in strategic risk conversations around new products and alliances. The majority of executives see their jobs as growth - so it’s vital that others in the C-suite understand that value and risk are inseparable and that opportunity is the other side of risk. Risks that impact value creation and future growth, as well as risks to value preservation and existing assets, should be considered. As for risks “of” the strategy, make a practice of identifying any assumptions that could disrupt your strategy. What’s looming that could upend assumptions about your company, customers, and market environment? How deeply are those assumptions embedded in your strategy? Which changing assumptions might actually turn out to be opportunities? Only by identifying risks both “to” and “of” the strategy can you shape a plan that allows your company to make the most of the risks and the opportunities it chooses to take. 12
14. Distinguish between the “vital few” and the “trivial many” Recommendation: Put signals in place and define thresholds By putting signals in place, CFOs can bring critical events, developments, and opportunities to the organization’s attention - helping them distinguish between, say, 500 risks versus a list of five key areas to focus on. CFOs should also define thresholds and escalate problems if those thresholds are exceeded. 13
15. How big is your risk appetite? Recommendation: Determine acceptable and unacceptable risks To make the most of both rewarded and unrewarded risks, CFOs should discuss the company’s risk appetite with the Board — addressing a range of risk-appetite elements from return on capital employed to selling, general, and administrative expenses. A risk discussion should be placed on the “menu” of every meeting. But this is not to suggest that the CFO should have final say on risk appetite. That discussion should take place across and within the C-suite and Board, and decisions should be reached only after the various viewpoints have been aired. The end result should be a fundamental standard and specific guidelines, developed by management and ratified by the Board, by which all enterprise risks are judged acceptable or unacceptable. 14
16. Avoiding a bad rep Recommendation: Control your reputational risks CFOs need to consider what impacts their actions could have on their reputations. They should take proactive - and, if necessary, corrective - action with respect to such risks, including developing a reliable process that assesses and manages risk throughout the life of contracts and relationships. This is another area, too, where the Board should be involved; a Board that is prepared to deal with a crisis situation is less likely to delay decision making at a time when response time is critical. Many companies have also begun to track social media in order to monitor public sentiment and deal with issues before they get out of hand. 15
17. Compliance and enforcement go global Recommendation: Create a compliance stress test To compete in this enhanced compliance and enforcement environment, CFOs should augment their companies’ existing compliance efforts. Banks in Europe and the United States conduct capital “stress tests”; now is the time for companies to conduct compliance stress tests that cover key areas of reputational risk, major areas of compliance, and the effectiveness and maturity of the compliance and risk-management process. Risks and growth opportunities go hand in hand when companies expand into foreign markets. CFOs should understand and assess geopolitical, country, and corruption risks that exist in emerging markets and develop an effective plan for managing those risks. Failing to do so can prove to be a costly lesson for companies doing business abroad. 16