enterprise risk management

ISO 22316: Security and Resilience

The new ISO 22316 standard about organizational resilience will be published ultimo at the beginning of 2017. It has been developed by the ISO/TC 292 – Security and resilience – committee of the International Organization for Standardization in Geneva. Organizational resilience is the ability of an organization to respond and adapt to change. Resilience enables organizations to anticipate and respond to threats and opportunities, arising from sudden or gradual changes in their internal and external context. Enhancing resilience should be a strategic organizational goal. It is […]

Narim conference stresses importance of work floor to risk management

“In recent years risk managers have focused on getting their voice heard in the boardroom, but according to Dutch risk managers, the work floor presents the biggest challenge to embedding risk management throughout an organisation. A pool of audience members at last week’s Netherlands Association of Risk and Insurance Managers (Narim) congress in Utrecht revealed that 64% consider the work floor the hardest part of the organisation to convince of the benefits of risk management, compared to management (19%) and […]

ISO 31000 – Risk Management

PRIMO has selected ISO 31000 as one of it’s main frames of thinking in approaching public risks. The International Organization for Standardization: “Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.” ISO 31000:2009 ISO 31000:2009, Risk management – Principles and guidelines, provides principles, framework and a process for managing risk. It can be used […]

Control interno de las entitades del sector publico local

11 de marzo 2015, COSITAL Hoy ha llegado oficialmente al Consejo General el texto del Proyecto de Real decreta,  por el que se regula el régimen jurídico del control interno de las entitades del sector publico local que ha elaborado el Ministerio de Hacienda y Administraciones Públicas en desarrollo de lo establecido en la Ley 27/2013  de 27 de diciembre, de racionalización y sostenibilidad de la Administración Local y sobre el cual el Consejo General de COSITAL, y otros interesados podrán […]

Guidelines for Emerging Risk Governance

Project by Ortwin Renn “IRGC’s current work aims to produce overarching Guidance on Emerging Risk Governance, as a set of flexible guidelines that support public and private organisations in their work to design internal processes to proactively deal with emerging risks: Anticipate emerging risks and opportunities: identify, evaluate and prioritise potential threats and opportunities Respond to emerging risk: assess and respond to those threats that may develop into risks to an organisation The build upon previous IRGC work on causes and factors contributing […]

Mapping high-level corruption risks in Spanish Public Procurement

High-level corruption and fraud has had an increased impact on the social and political debate in Spain, especially since the beginning of the financial crisis when several cuts in social spending were made. Greater attention is being paid to where and how the government spends its public funding. This paper explores the extent and forms of political corruption in Spanish public procurement. Its main contribution is the rich analytical discussion of high- profile corruption scandals involving public procurement, such as […]

Common Assessment Framework (CAF)

Bron: Bestuurszaken.be Entiteiten van de Vlaamse overheid maken gebruik van het Common Assessment Framework -instrument (CAF) om hun werking te meten en te structureren. CAF – een instrument voor totale kwaliteitszorg – is gebaseerd op het EFQM-model en op het model van de Duitse Universiteit voor Bestuurswetenschappen in Speyer. Het kwaliteitsmodel is specifiek ontwikkeld voor overheidsorganisaties. Filosofie van het model ‘Het model vertrekt vanuit de stelling dat een organisatie uitstekend presteert en buitengewone resultaten behaalt bij de burger/klant, bij haar […]

Preparar al sector público para la gobernanza de riesgos

La gestión de riesgos ocupa un lugar cada vez más importante entre las prioridades de los gestores públicos. En un contexto como el actual, en el que los organismos públicos persiguen la máxima eficiencia, diversifican sus herramientas de servicio público y desarrollan múltiples colaboraciones, la gestión de riesgos se ha convertido en un elemento ineludible para la correcta gestión pública, ya que consigue optimizar los recursos y facilita la consecución de objetivos. Gérard Combe, Vicepresidente de PRIMO Europe (Public Risk Management Organisation) y fundador de […]

Board Engagement Report

By Strategic Risk A lack of alignment between a board and its C-suite executives can inhibit the board’s ability to deliver high-level strategy and functionality. Properly aligning a board with its top executives, including those in a risk management function, can be very difficult for a board facing time constraints, according to the survey. The StrategicRISK survey also revealed respondents feel there is a risk that boards simply fall into a “box ticking compliance approach” which can easily become a […]

Risk and Responsibility in a Hyperconnected World

Implications for enterprises By World Economic Forum in collaboration with McKinsey & Company From Executive Summary: “Many leaders in business, civil society and government realize that for the world’s economy to fully derive the value inherent in technological innovation, a robust, coordinated system of global cyber resilience is essential to effectively mitigate the risk of cyberattacks. This view is beginning to permeate discussions among senior leaders in the private and public sectors, and across different industries, as concerns related to cyber resilience shift from awareness to […]

The economic problem of organizational risk appetite

Door Arie de Wild In our current era of major global challenges and worldwide crises the human race is contin- uously searching for solutions to the fundamental economic problem of how to determine which aims should be pursued and how limited resources ought to be allocated. Economics as the science that studies “human behavior as a relationship between ends and scarce means” (Robbins 1932 p.16) is poised to prescribe normative antidotes to the calamities and acts of man that plague […]

10 Ways to improve risk management

Door Marinus de Pooter. With an awareness of common shortcomings, internal auditors can help their organization better meet stakeholder expectations and ensure business objectives are achieved. Why do risk management implementations and functions often fail to deliver what is expected? And what causes senior management to feel that its investments in risk management systems are not delivering the expected returns? Many factors, potentially, are to blame, stemming from various parts of the organization and its systems. But most often, the culprits come down to a handful of common dysfunctions. Ten key practices, in […]

Leadership in Risk Management

By Harvard Business Review THE C-SUITE IS taking a stronger role in leading the risk management effort at major primarily European companies, underscoring the higher priority risk has assumed in the wake of several years of financial and economic turmoil. Congruently, companies are underscoring the need for strong board involvement to facilitate decision-making regarding strategic and enterprise-wide risks and to encourage acceptance of a culture of risk management further down in the organization. Companies are struggling, however, to create a wider […]

Environmental Risk Management

By Harvard Business Review This report has been written derived from the responses of the HBR survey on this issue, this in cooperation with Zurich, FERMA and PRIMO. Notice that on the 26th of June a webinar will be held. Increasing attention to environmental risk Overwhelmingly, our survey responses tell us that European organizations—companies, largely, but also a sprinkling of government agencies and non-profits—are now placing high priority on managing environmental risk. Nearly two-thirds (61%) rated the level of commitment […]

10 Ways to improve risk management

Door* Marinus de Pooter** With an awareness of common shortcomings, internal auditors can help their organization better meet stakeholder expectations and ensure business objectives are achieved. Why do risk management implementations and functions often fail to deliver what is expected? And what causes senior management to feel that its investments in risk management systems are not delivering the expected returns? Many factors, potentially, are to blame, stemming from various parts of the organization and its systems. But most often, the culprits come down to a handful of common dysfunctions. Ten key practices, in […]

ISO 31000

A framework in development By Ed Mallens and Jack P. Kruf The International Organization for Standardization (ISO) has worked on the ISO 31000 as referential framework for risk management in organizations. The setting has been outlined by ISO very clearly: “Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.” The framework is […]

Reconsidering the Public-Private Risk Sector Management Divide

By Peter C. Young PhD. Five years ago I wrote a short article entitled, “Public and Private Sector Risk Management: Is There a Difference?”  In that article I stated that while there is strength to the argument that ‘management is management’ and that leadership in any type of organization calls on common knowledge, skills and abilities, there are distinctions and these distinctions make it difficult to conclude that improving public sector risk management is simply a matter adopting private sector […]

Aftershock: Adjusting to the New World of Risk Management

By Deloitte. Following the latest global economic crisis, organizations of all types are still operating in a volatile, highly changeable risk environment. In a spring 2012 survey of 192 U.S. executives, Deloitte and Forbes Insights found that many are still working hard to make sense of this environment. In fact, a stunning 91% plan to reorganize and reprioritize their approaches to risk management in some form in the coming three years. Indeed, survey respondents do not expect the volatility of […]

What Every CEO Needs to Know About The Cloud

By Andrew McAfee Harvard Business Review, . In 2010 an IBM survey of more than 1,500 CEOs worldwide revealed a troubling gap: Close to 80% of them believed their environment would grow much more complex in the coming years, but fewer than half thought their companies were well equipped to deal with this shift. The survey team called it “the largest leadership challenge identified in eight years of research.” . Unfortunately, the information technology infrastructure at many large companies only […]

Enterprise Risk Quotient and Supplier Risk Quotient

Source: ETHISPHERE   “Risk Management from a New Perspective” Ensuring that the most pertinent risks to the viability of an organization are being addressed adequately is critical to an organization’s success. Many organizations have some form of a risk management program to help them manage and mitigate risks; however, understanding whether their program employs best practices and whether risks are being addressed adequately can be difficult without measuring effectiveness. More >