Month: June 2021

The Risk Manager’s Changing Role

[980 words, edited, originally published 2013-26-07] As far back as 2012 RIMS (Risk & Insurance Management Society) reported on “The Evolving Role of the Risk Professional”. They recommended that risk managers view risk in a new way that “builds internal alliances, and enhances the strategic decision-making capability”; this in turn would require “specialized communication and …

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ERM books selected as university course texts

[originally published 2016-12-14] Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation and companion volume Enterprise Risk Management Tools and Templates were selected as course texts for Laval University’s ERM course (ASR-4004 Gestion intégrée des risques en entreprise). These are not thick tomes costing hundreds. They are concise and practical. Tools and Templates is being offered …

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ERM Helps Solve Chronic Business Problems

[300 words, edited, originally published 2017-08-12] Enterprise risk management — correctly implemented — has an immediate practical benefit: to enable the solution of chronic business problems. That might sound surprising, as many conceive of ERM as a compliance exercise, with purported eventual benefits, such as reduced volatility and lowering the cost of capital. But value should …

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Enterprise Risk Management and Board of Directors

[400 words, edited, originally published 2018-11-24] What is the role of the Board of Directors with regard to Enterprise Risk Management? I addressed the Board members of Island Health, our local health authority, in the fall of 2018 to answer this question. The Board had already been given advice by the Healthcare Insurance Reciprocal of …

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