Ingram Looks into ERM – Eight short articles.
The magazine of the Society of Actuaries published eight short essays on a variety of ERM topics.
Making Risk Models Collaborative With our risk models, we make the contribution of managers to the risk management of the company disappear into the mist of probabilities. And then we wonder why so many managers are opposed to “letting a model run the company.”
We Must Legitimize Uncertainty In a post to the Harvard Business Review blog, “American CEO’s should Stop Complaining about Uncertainty,” Jonathan Berman points out that while African companies are able to cope with their uncertain environment, American CEOs mostly just complain. Americans must legitimize the Uncertain environment and study how mest to cope.
Finding a Safe Place New ERM and Old School goals for risk management all seek to keep the company safe.
ERM and the Hierarchy of Corporate Needs The reason that ERM is not given the degree of priority that its proponents desire is that its proponents want is that it is at best third in the hierarchy of corporate needs.
Help Wanted: Risk Tolerance It is a rare company that can create a risk appetite statement if they do not already have years of experience with the measure of risk that will be used.
What should you do at a Yellow Light? Companies need to plan in advance what should be happening when their risk reports indicates that they are entering into risky territory.
Are you Sure about that? Frequently, we ignore the fact that our risk models do NOT produce infomation about our risks that are all consistently reliable. Yet we still add those numbers to gether as if they were on the exact same basis.
Creating a Risk Management Culture – Risk Management needs to be embedded into the corporate culture, just as expense management was embedded thirty years ago.