Feedback from ERM Sessions – Online

Online Risk Management Course – Assessment

The online risk management courses I offer through Risk and Insurance Management Society includes How to Conduct High Quality Risk Assessment, which, in the first two years of its running, got an approval rating (“would recommend this course to others”) of 88%.  Some of the positive feedback stating “the most beneficial aspects” is as follows:

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Report on ERM Sessions – On Site

Risk Management Workshop On Site

Since January I have conducted on site both a custom-designed session on ERM, as well as the RIMS workshop Enterprise Risk Management – Developing and Implementing. Some participants have followed up by taking the new CRM-E (enterprise) risk manager’s online exam, based on the text. These sessions took place in Winnipeg, Calgary, and Edmonton.

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Risk Assessment as Due Diligence in Finance

Questioning the foundations of the economy
In the previous post, issues were raised about the Canadian financial system: Is Canada relatively immune from a deepening depression in the US and Europe? Are Canadian banks, in particular, on solid ground? The main implication I am trying to point out for risk managers is that, in whatever context you happen to be working, a multi-faceted risk assessment that questions common assumptions is needed.

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Risk in Canadian Financial System

In a previous post on Canadian Financial Risk, I reported on commentator Bob Chapman’s assessment. He had said that Canada has a very solvent financial system; has always been very conservative; and that while the US and Europe are headed for a significant crisis, the magnitude of its effect on Canada should be about half of what they will experience. I expressed doubt that Canada’s isolation is really guaranteed.

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Online Courses: Risk Assessment in Many Contexts

2011-11-28 / How to do Risk Assessment / 0 Comments

trouble-with-risk-assessmentIn a previous post I had this headline: Firms struggle with how to conduct risk assessment and quoted from  a series of surveys going back to 2008. News has been continuing in the same vein, so for example last year’s Economist Intelligence Unit paper (Nov 2010) entitled “Fall guys: Risk management in the front line” reported that only 35% of respondents believe their firms are effective in detecting emerging risks.
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High Quality Risk Identification and Risk Assessment

2011-10-18 / How to do Risk Assessment / 0 Comments

erm-surveysFirms struggle with how to conduct risk assessment
In a previous post (Four Keys to Successful Enterprise Risk Management Implementation) I asked this question: “Can you conduct a risk analysis with your team on your service plan, business objectives, program, or project, and develop an insightful risk profile that clarifies priorities?” If not and your risk assessment process is in trouble, you are in good company.
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Economic Crisis: Why ERM Did Not Fail

economic-crisisRisk management controls: not implemented — or rather, subverted

We are continuing to experience economic turmoil. After the first severe and generalized wave of economic upheaval originating in the US recession, many in risk management circles were speaking of “the failure of Enterprise Risk Management”. First, let’s not characterize what happened in those terms, because failure depends upon one’s point of view; the failure was not universal. The people responsible for what Galbraith called the “seemingly imaginative, currently lucrative, and eventually disastrous innovation in financial structures” did not fail.  (He was writing back at the time prior to the October 1987 crash, about parallels to 1929 — but might just as well have been referring to collateralized debt obligations – CDOs).
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Enterprise Risk Management Manifesto

Enterprise Risk Management - risk matrixEnterprise Risk Management is now finding its place in creating strategic value.

Traditionally confined to either loss control in the realm of commercial insurance, or financial controls and audit, enterprise risk management has now taken an evolutionary step to encompass the entire spectrum of strategic and operational risk.

Risk has gained, in recent years, a high profile in the public mind, as waves of corporate malfeasance, natural disaster, security threats and economic meltdown have rocked the foundations of organizations in all sectors, and created profound distrust among stakeholders. ERM implementation is now proving its value as conventional risk management duties expand to embrace strategic planning and innovation.
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