In this fictional mini case study, Krista B. Lewellyn and Maureen I. Muller-Kahle explore the impact a CEO’s personal life can have on effective risk management.
Stress testing is not new to the risk world. But the increased complexity, expected frequency and firm-wide nature of scenarios present new challenges. That being said, to deliver a successful stress testing program, there are five key areas you should address.
How do you protect the organization from risk if the numbers aren’t right? Gut feel may protect you when you are in total control of the process, but when there are many people and systems included, the risk factors increase in complexity. Analytics can help drive profitability, manage risk and achieve compliance with confidence.
Today, law enforcement agencies around the world have the technological capability to deliver preventive policing – something that was previously inconceivable. To do that, IT must be seen as an ally, not a road block.
Integrity is the basis of an effective risk management culture. When honesty and integrity fail, the consequences can be dire. Jack Zenger and Joesph Folkman collected from 5,268 leaders in five different organizations to learn the impact top managers have on ethics and honesty.
Scott Edinger, Founder of Edinger Consulting, says that everyone fails at one point or another. The important thing to ask yourself is, “How well do I handle setbacks – personally and professionally? Edinger has three tips for getting back on track.
The greater the control you have over risk, the more finely you can judge the risk, and the more money you can make. But, how much control do you have – can you have?
When IT execs talk about big data, they say they have to start with baby steps; they have to get buy in from many areas of the organization. Here are some of their tips for getting both IT and executives on board with analytics implementations and data governance policies that will help the organization make the most of data.
The most creative thinkers may not be the best choices for high organizational rank — in fact; there is often a conflict between the intuitive leaps that underlie attractive risks and the meticulous attention to process necessary for a large organization to remain organized. An important function of a risk manager is to give permission to fail, which is the only way an organization can succeed.
The words “risk management” usually evoke less subjective, more data-driven pursuits. But data and objectivity can only get you so far. To navigate unquantifiable hazards, your risk management team must make judgment calls – calls that are in jeopardy if all of the team’s viewpoints aren’t considered.