Для тех, кто интересуется безопасным доступом к онлайн-играм, наш партнер предлагает зеркало Вавады, которое позволяет обходить любые блокировки и сохранять доступ ко всем функциям казино.

To Sell ERM, Think Like a Salesperson

Selling Enterprise Risk Management

There have been many discussions around the value of enterprise risk management as of late. Some individuals may feel as if having a risk manager on board checks the box, meeting the company’s obligations. Others may feel that enterprise risk management is the start and end to all their challenges and, if things do not work out as expected, the risk manager is to blame. So where does that leave the risk manager?

In order to have a healthy enterprise risk management program, risk managers should think like salespeople.

online pharmacy doxycycline with best prices today in the USA

Risk management professionals tend to be very passionate about their vocation, but not everyone may be buying into the ERM process. The first step to selling your risk program is to find a champion.
buy antabuse online https://galenapharm.com/pharmacy/antabuse.html no prescription
This person should be on your executive team—preferably the CEO.  You need a strong voice in your organization that will support the change that an enterprise risk management program can bring. It is also a good idea to have support from the board of directors and, if applicable, the internal auditor. When building your risk team, keep in mind that the end goal is to have all employees of the organization support and apply risk management to their day-to-day challenges. The more risk champions you can find, the better your program will be advocated and supported.

Once you have completed your public relations campaign by finding your risk champion, the next step is finding a common language everyone can understand. It is particularly helpful to ensure that the risk terminology used within your organization is consistent and understood.

online pharmacy ocuflox with best prices today in the USA

Once people begin to speak the same language, conversations should begin to flow.

The third step is to make sure you have a sound product. Building a comprehensive risk framework and process that fits your culture is a valuable selling point. There are many frameworks to choose from such as the Australian model, COBIT and COSO. One size does not always fit all, however.

online pharmacy rifadin with best prices today in the USA

  Use the components from the models that best suit the culture of your company. Be sure that you gain approval from both the executive team and your board when you introduce your framework and process.

Finally, it is time to make the sale. Have a risk workshop with your executive, but be sure to come prepared. It is critical to have a thorough understanding of the company’s strategic objectives, as the risks identified through your process should align with the company’s overall goals.

Conducting risk scenarios can also help sell ERM, further embedding risk management practices into the organization. Creating a scenario that requires the application of the risk management process really helps bring the theory to life. It also allows the participants to learn together as they work together, building knowledge while strengthening the program and its support throughout the company.

RIMS Honors the Best in ERM

MIAMI – Enterprise risk management (ERM) continues to gain momentum in boardrooms around the world as it is increasingly being considered an essential element of an organization’s strategic planning process.

buy fluoxetine online rebalancenyc.com/wp-content/uploads/2023/10/jpg/fluoxetine.html no prescription pharmacy

In recognition of one organization’s efforts to successfully align its ERM program with its strategic objectives, thereby enhancing its resiliency and operational efficiencies, RIMS presented the 2014 ERM Award of Distinction to Malaysian-based Astro Overseas Limited at the RIMS ERM Conference in Miami.

The award was presented by Lori Seidenberg, senior vice president of insurance and risk management at Hunt Companies and member of the RIMS board of directors and was accepted by Ghislain Giroux Dufort, president of Baldwin Risk Strategies, on behalf of Astro Overseas Limited (above). It recognizes Astro for successfully implementing and sustaining an ERM program across multiple investments in a diverse mix of businesses in the media and broadcasting industries.

buy zydena online youngchiropractic.com.au/wp-content/uploads/2023/10/jpg/zydena.html no prescription pharmacy

The program is an extension and evolution of the group enterprise risk management program implemented at Astro Malaysia Holdings Berhad, which is Astro Overseas Limited’s sister company, and the main source of operations for television and radio broadcasting activity. The program not only allowed the organization to better manage its IT and cyberrisk vulnerabilities, but prompted its board of directors  to include enterprise-wide risk assessments and related investment and risk performance dashboards as part of the organization’s strategic decision-making process.

“It started as a process to address operational risks but our leadership quickly realized the value our ERM program can add to achieving strategic objectives,” said Patrick Adam K. Abdullah, vice president of ERM at Astro Overseas Limited. “It’s our hope that sharing the success of our ERM program will inspire others to advance their own risk programs and highlight the impact such a program can have on an organization’s ability to navigate exposures and leverage new opportunities. It is a tremendous honor to be recognized with this prestigious award.”

Honorable mention for this year’s ERM Award of Distinction went to Schaumburg Ill.-based American Agricultural Insurance Company and was accepted by Lorie Graham, the company’s senior underwriting and corporate risk manager (below).

buy cenforce online youngchiropractic.com.au/wp-content/uploads/2023/10/jpg/cenforce.html no prescription pharmacy

As a result of its ERM program, the company was able to reduce uncertainties caused by severe weather by reassessing corporate goals, developing a diversified income base and grow surplus.

“Whether it is global expansion, the use of new technologies or even outdated operational practices, ERM continues to prove to be an effective risk management approach that propels organizations, regardless of industry, to reach and exceed expectations,” said Carol Fox, RIMS director of strategic and enterprise risk practice. “The judging panel for the ERM Award of Distinction was impressed with the complexity and quality of all of the submissions and congratulates Astro Overseas Limited for winning this top honor.”

Judging criteria for the ERM Award of Distinction includes the scope of the ERM program and how it engages different levels throughout the organization; the program’s link or connection to the company’s overall mission; and its ability to create additional value for the organization.

Ernst & Young CRO Survey Highlights Expanding Authority, Top Challenges for 2014

Ernst & Young has released its new 2014 insurance CRO survey, “Increasing authority and higher organizational profiles,” highlighting top trends and challenges reported by chief risk officers and senior risk executives from more than 20 top American insurance companies. Top themes in this year’s results were the expansion of CRO authority, the challenge of managing the “tsunamis” of effects stemming from new domestic and international regulation, and shifts in CRO focus from survival to effectiveness. Those surveyed also reported that they are spending more time with the board and senior business leaders, and that they are becoming involved in more types of business issues. ERM was also a top accomplishment and key priority for risk managers looking ahead to 2014 challenges.

Some particularly interesting responses to the new study include:

What was your most important accomplishment over the past year?

EY Question 1 Graph

To which will you devote significantly more attention in the next 12 months, compared with the last 12?

EY Question 2

How do you know your risk function is creating value?

EY Question 4

Other than the four main risk categories (credit, market, insurance and operational risks), what risk management areas are you responsible for?

EY Question 10

What is your access to the board?

EY Question 11

Click here for the full report.