Over the course of the last 3 years we have been exploring the innovation of risk from the perspective of moving risk management away from a traditional focus of frameworks and tools, and towards an embedded practice within businesses across the globe.

With organisations continually striving for that 1% more and driving themselves to different methods of execution and implementation, we were drawn to a book that discusses one of the most modern approaches to developing your business.  Eric Ries delivers a book that focuses the reader on how to adapt to today’s environment regardless of your organisation size or complexity.  In particular he indirectly discusses risk management within this book (he does not explicitly call it risk management) through his method of using batches to help deliver a more effective and efficient product to the end customer.

“We called this our product’s immune system because those automatic protections went beyond checking that the product behaved as expected.  We also continuously monitored the health of our business itself so that mistakes were found and removed automatically”, from “The Lean Startup: How Constant Innovation Creates Radically Successful Businesses” by Eric Ries.

Let us consider this quote for a moment using the analogy of the human body.  Wikipedia defines the immune system as, “a system of biological structures and processes within an organism that protects against disease. To function properly, an immune system must detect a wide variety of agents, from viruses to parasitic worms, and distinguish them from the organism’s own healthy tissue.”

Now let’s consider the definition of risk management in Wikipedia which details, “Risk management is the identification, assessment, and prioritization of risks  followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.”

Reading these two definitions at face value does not seem to indicate any analogous position.

However, we should step back for a moment on what this definition, or any definition, is meaning by risk management.  Effectively, risk management is the system to identify and protect an organisation from failure of people, process and systems.  To have an effective risk management system we consider a wide variety of potential problems and distinguish these from the opportunities so as to ensure the organisation achieves the best possible return.

An effective risk management system is the immune system of the organisation.  It is built to identify and mitigate against the “bad” viruses (problems) and to ensure the promotion and proliferation of the benefits.  It also provides processes to continuously monitor the effective performance of the organisation in mitigating the “bad” viruses.

In “The Lean Startup“, Eric Ries highlights how his organisation dealt with risk by, “When our immune system detects a problem, a number of things happen immediately, being the defective change is removed immediately and automatically, everyone is notified, and changes are blocked until the root cause of the problem is found and fixed.”  Eric has just described a real-time, interactive and continuous risk management system.  A system that as Risk Managers we discuss in detail and depth and attempt every day to communicate to management.

The role of the Risk Manager must therefore be to assist the organisations immune system to fight the “bad” and promote the “good”.  Over the past 20 years Risk Managers have focused on the framework and the tools, and have been seen as a road-block to change.  As an analogy in the theme of the immune system, the Risk Manager is seen as almost being the emergency room of the hospital.  People go there when they know they are in trouble and need a diagnosis and solution.  The Risk Manager makes them follow the process and then a solution is provided.  Most of the time, the emergency is averted, but every now and then, you end up having some form of major emergency surgery.

Perhaps the lesson for risk managers is we are promoting the “emergency” approach through the focus on historical language in how we communicate and engage.

What we should be doing is providing an approach and language that encourages individuals and businesses to perform preventative measures, like exercise for your body or better eating habits to promote better health!

Eric Ries approach to the Lean Startup is a reminder to risk management that we need to be just as revolutionary and innovate in our thinking in how we approach risk management.  We need to be the promoters of good health, of boosting the immune system and generating embedded practices in managing the potential viruses (errors) that occur in any part of the business.  And just like any good medical coverage, we need to to be holistic in our thinking.  We need to consider new age thinking and we need to move away from the traditional reactive approach.

The immune system of the organisation is risk and managing risk will make the immune system fight the problems and embrace the opportunities.

Inspiration for the article was from:

The Lean Startup: How Constant Innovation Creates Radically Successful Businesses” by Eric Ries.

The post The Immune System is Risk appeared first on Innovation of Risk.

The Innovation of Risk does not typically provide postings on risk management standards and guidance but in this case we felt that sharing the recently announced guidance note on the risk and control self-assessment process from the Risk Management Association (RMA) in Australia was worth highlighting.

The RMA media release details that “the Risk and Control Self-Assessment Guidance Note outlines a set of guiding principles for implementing a risk and control self-assessment (RCSA) process for Australian financial services firms. The Guidance Note aims to document industry-agreed suggestions on what works well, what to be aware of, and what to avoid when applying the RCSA process. While the Guidance Note is by no means prescriptive, its content has been developed and agreed by industry peers from 13 Australian banks“. The performance of risk and control assessments is one of the most critical elements of an effective operational risk management framework.

This guidance note provides an excellent supporting document for all organisations, regardless of the industry, to help perform the assessment process.  In particular the document is broken up into the 7 key steps in the proces.

The guidance note also highlights that for an effective risk and control self-assessment (RCSA) to occur it must:

• Link with the strategic plan;
• Facilitate management prioritisation; and
• Be an enabler of good governance.

The guidance note itself outlines 11 principles in the performance of an RCSA.

We encourage everyone to review this guidance note as part of their risk management process but more importantly, as detailed in the guidance note, to ensure that the risk assessment process is aligned to ensuring that it enables management to deliver on their business objectives in a risk focused manner.

Organisations across the globe need to understand and manage their risks every day, and every piece of guidance and support can help in making that process simpler, clearer and more effective.

The post Best practice guidance for risk assessments appeared first on Innovation of Risk.

Lawsuits Raise Concern for Rural Grader Operators

Tim Baxter with the Nebraska Intergovernmental Risk Management Association is a former highway superintendent in Richardson and Phelps Counties. He told Gage County and township officials last night, lawsuits filed in accidents where vehicles have … See all stories on this topic »

kwbe

Benefits and pitfalls of a risk taxonomy

The risk management industry is growing increasingly fond of talking about taxonomy. In most conferences and industry workshops, and certainly amongst consultants, the term "risk taxonomy" has become a regular mantra. So, what is this buzz all about? See all stories on this topic »

Risk.net

Biomin launch new Mycotoxin risk management app

Biomin launches the Mycotoxin Risk Management app, in time for the upcoming 2012 Global Mycotoxin Survey Report, the first application that allows instant access to global data on mycotoxin occurence and information. Biomin launch new Mycotoxin risk … See all stories on this topic »

All about feed

Enter the CISO: Torchbearer of Security and Risk Management : The …

In a convergence culture, accountability for risk is accepted across the organization, and when … www.tripwire.com/…/enter-the-ciso-torchbearer-of-security-an…

Students take second at risk management competition

Competing teams were given six weeks to prepare presentations on a complex risk management case study about the Richmond 2015 Union Cycliste Internationale, a world championship bicycle road racing event organized by Union Cycliste Internationale, … See all stories on this topic »

Illinois State University Stories

Digest powered by RSS Digest

The post Today’s Links April 7, 2013 appeared first on Innovation of Risk.

When we consider the innovation of risk, we are continually looking at every possible avenue to advance risk management in its practices through scanning the globe for the newest digital resources.  Risk management must be at the forefront of the usage of digital technology, just like every other professional area such as digital market research, digital delivery, operational excellence, financial performance and business management.

In this two part post we present our top 10 websites and then in the second part our top 20 applications for digital research for the innovative risk professional. The visualisation below (click to see in full scale) provides an interesting summary of the first part of the post on performing digital research to advance the innovative risk professional.

To learn more about our selections we provide further detail below on the top 10 websites that we recommend to assist every risk professional in better leveraging the power of digital research.

Image source Mashable.com

Twitter.  We recommend establishing a Twitter account that links to a variety of digital research topics, ranging from twitter users focused on risk management, to government agencies, local and global news, and entrepreneurs and innovators across the globe.  By utilising the power of Twitter you will quickly find that information is coming to you on topics that you may not have previously considered in your role as a risk professional.

For a list example, we have created a list for resources we believe influence the direction of the innovation of risk.

Image source estudiosdeinglesdotnet.wordpress.com

Instapaper.  For a long time web search results and articles from websites have provided invaluable digital research for the risk professional.  One of the key difficulties has been the ability to track and record the articles we have identified for later usage in internal reporting.  Everyone can probably remember the time that they read something, only to be trying to recall later what the article was and the detail in the article.  Instapaper provides a practical and simple solution to capture and record those articles for later recollection and incorporation into management reporting.

Image source www.douglaslim.org

LinkedIn.    Over the past few year LinkedIn has moved from being simply a place to share your resume with your network to a social engagement channel.  As part of this transition, it has become an invaluable digital research channel.  This has been clearly evidenced in the world of digital market research which now considers LinkedIn one of its key market research online communities.  LinkedIn provides the risk professional with access to digital research that is being shared by members of their own network.  This provides an additional layer of quality to the information being shared in this channel.  Over the last few months this has even extended into a massive increase in LinkedIn Groups which bring together like minded people to discuss specific topics in either an open or closed channel.

Our group, called the innovation of risk, is an example of the type of group you can join to obtain targeted information on topics that can assist you as a Risk Manager.

YouTube

YouTube.  YouTube was once the domain of family videos and funny scenes, but not any longer.  YouTube has become a source of current affairs, emerging trends in technology and business, and a platform for social change.  The information provided in YouTube is an invaluable source of information for the risk professional.  From videos explaining business strategies to cutting edge analysis of current events across all spectrums of life, a risk professional who is seeking out knowledge should ensure they have a YouTube account and subscribe to as many channels as possible across key areas that are critical to the business being supported.

Feel free to visit our YouTube channel to better visualise the benefits of this medium.

Facebook

Facebook.  This is probably one that would surprise a lot of risk professionals.  Facebook is seen as a location for family and friends to interact with each other and not as the domain of providing information to understand the current external environment.  In actual fact Facebook provides a simple and clear place to source information for your digital research from real people.  Through Facebook people share what resonates with them as consumers, as individuals and as voters.  Organisations that embrace this information can utilise it as a power digital market research tool but for the risk professional it can provide invaluable information to understand trends and current events that are impacting a broad cross section of your community.

We have, for example, created a page on the Innovation of Risk to share specific information that we feel is relevant to the risk managers of today and tomorrow.

Google+

Google+.  One of the newer entrants in the information sharing and social media space.  Google+ offers a multitude of options for its users to interact and share information, and it is through Google+ that you can take your digital research to an even higher level.  Over the last few months in particular, Google+ has become a central point for obtaining upcoming trends in technology, digital and innovation.  This can be attributed to the fact that Android and Google are taking a pioneering role in advancing technology across multiple layers.  Digital market research is a key pillar of the growth in Google+ and has provided a great launching pad for the risk professional to embrace new information across multiple topics.

Please feel free to visit our Google+ Community.

Image source TED.com

TED. TED’s byline speaks for why this is a valuable resource for digital research, “ideas worth spreading”.  What makes TED unique is the information resources are presented in an engaging style and the ideas are not always in areas you would necessary consider researching.  TED speeches are designed to be engaging and their broad range of topics and speakers makes it the single most rich location for watching presentations by speakers across the globe.  TED is available both as a website, as well as applications on your mobile devices.  If you have a long business trip coming up, the applications (or apps) provide you with the ability to store the presentations on your device, and this is a great way to watch and listen to topics and ideas that may be not in your normal range of assessment.

Image source www.digitaltrends.com

Kickstarter.  In regards to digital resources for the risk professional, this is probably the most unexpected for most people to see in this list.  Kickstarter, for those unfamiliar with this site, provides individuals and organisations with an avenue to pitch their idea to everybody and to then receive “funding” from people to get their idea to production.  Kickstarter has seen some amazing success stories including the Pebble watch, a digital watch that interacts with your smart phone.  Kickstarter is also a wealth of digital research as it provides critical information for the risk professional to see the future potential market breakers and game changers.  Kickstarter projects range from technology projects to movie production.  By scanning the potential projects in Kickstarter the risk professional can potentially identify external impacts on their businesses.

Image source paper.li

Paper.li.  This innovative and unique website provides the user with the ability to “create” a newspaper on your particular research topic and then share this with the broader community.  With a simple interface to establish your daily “paper”, you can bring in many of the sources above plus article searches that you have in your relevant readers.  The system then automatically generates an edition of your “paper” and delivers it to your electronic mailbox.

We have created three such papers, being The Risk Management Daily, Innovation of Risk Daily, and Natural Disaster Black Swans which provide excellent examples of this technology.

Risk Newstand

Risk Newstand.  We must firstly highlight that Risk Newstand is a site established and managed by the same organisation as this site.  But what we want to highlight specifically in regards to Risk Newstand, and its power as a source of information for the risk professional, is the underlying Managing News infrastructure.  The Managing News capability provides Risk Newstand with the ability to automatically search and download key “feeds” from sites across the world wide web.  Through the results obtained, users can then consider the topics in a holistic manner, utilising maps, charts and links to the source articles, and transform this data into information.

We hope you have found our in-depth analysis of these sites beneficial in your pursuit of information leveraging digital research.  Just as digital marketing research is revolutionising the marketing world, we see digital risk research revolutionising the risk management universe.

In part two of this posting we will move our attention to applications (or apps) for your mobile devices and we will we bring both parts together in an overall visualisation that we hope can assist you in better understanding the digital research landscape.

The post Top resources for digital research appeared first on Innovation of Risk.

Companies merge cash management and foreign exchange to tackle risk

The increasing volumes of business done in emerging markets – by multinationals and rapidly growing emerging markets firms – has further emphasised the need for forex risk management, given the greater volatility of emerging market currencies. See all stories on this topic »

Risk.net

Insurers increase equity exposure despite risk management challenges

This year is being mooted as the year of the 'great rotation' by investors out of bonds and into equities. For their part, insurers are modestly increasing their equity exposure in pursuit of more attractive yields. Blake Evans-Pritchard reports on the … See all stories on this topic »

Risk.net

Digest powered by RSS Digest

The post Today’s Links March 31, 2013 appeared first on Innovation of Risk.

Hotdesk move is worth the Risk

Bill is providing risk management services for firms running large industrial projects in areas like oil, gas, power generation and road building. “An expensive swanky office is no use for my customers,” he said. “The problem was that I started to go … See all stories on this topic »

Lancaster Today

Banking Needs Less Regulation, More Risk Governance

However, addressing the governance structure of risk management could significantly reduce if not eliminate many banking missteps. A number of the subcommittee's recommendations, such as requiring contemporaneous hedge documentation and … See all stories on this topic »

American Banker (subscription)

S&P Capital IQ partners with Bureau van Dijk for credit risk management

S&P Capital IQ and (BvD), the leading publisher of business information, have joined forces to expand BvD's FACT platform – a framework to manage credit risk processes – with S&P Capital IQ's methodologies for analysing credit risk.The expanded FACT … See all stories on this topic »

RFPConnect.com

Digest powered by RSS Digest

The post Today’s Links March 24, 2013 appeared first on Innovation of Risk.

Johannesburg Risk Management expert fears for Zambia's investment under Sata

ZAMBIA's doors are open for business. The country that has been teetering on the edge of success for so long could finally turn promise into profit. Zambia exudes potential as a viable investment destination amid a broader African economic renaissance. See all stories on this topic »

Zambian Watchdog

Risk-management strategies needed to make societies drought-resilient, UN urges

Risk-management strategies needed to make societies drought-resilient, UN urges. Photo: FAO/Giulio Napolitano. Print. 14 March 2013 – To make people more resilient to droughts, governments need to create coordinated national plans that incorporate … See all stories on this topic »

UN News Centre

Digest powered by RSS Digest

The post Today’s Links March 17, 2013 appeared first on Innovation of Risk.

ACE Risk Management Receives Innovation Award from Business Insurance …

PHILADELPHIA, Mar 07, 2013 (BUSINESS WIRE) — ACE USA, the U.S.-based retail operation of the ACE Group, today announced that ACE Risk Management, the company's primary casualty division, has been recognized by Business Insurance Magazine … See all stories on this topic »

MarketWatch (press release)

New HFA to ensure women involved in disaster risk management says UNISDR

Ms. Wahlström said: "The development of the HFA2 can be a watershed moment in ensuring that disaster risk management explicitly factors in gender-based vulnerability and risks. An important remedy is to ensure that women and girls are engaged more as … See all stories on this topic »

PreventionWeb (press release)

Risk Management Solutions names new board head

Risk Management Solutions has appointed Paul Dali as chairman of its board of directors. Dali has been serving as an advisor to the board for the past year, providing invaluable perspective as the company develops new technology and business … See all stories on this topic »

IndUS Business Journal

E-Discovery Is Risk Management

e-Discovery is normally thought of as a legal process related to the identification, gathering, analysis and transfer of data (e.g., documents and email) for lawsuits and other legal matters but though that is true, e-Discovery is at its core, a risk … See all stories on this topic »

CMSWire

Digest powered by RSS Digest

The post Today’s Links March 10, 2013 appeared first on Innovation of Risk.

The Messy (and Risky) Ways That Governments Try to Manage Risks

But when it comes to government risk management policy making, shouldn't we want the probabilities to matter more and the emotions less? The goal of risk policy, after all, is to maximize protection of public and environmental health in a world of … See all stories on this topic »

Scientific American (blog)

Digest powered by RSS Digest

The post Today’s Links March 3, 2013 appeared first on Innovation of Risk.

In 2009 the article,  Top Ten Risk Management Lessons and Trends from 2009, identified 10 risks and trends that were considered critical for organisations across the globe.  We thought it was time to revisit these risks to see how applicable they are today.

1. Social networking

Risk Newstand has a dedicated feed searching for social media articles on the web and provides a heat map of articles across the world regarding social media.

The heat map details that the usage by organisations of social media has continued to grow and we are not seeing any signs of this risk diminishing in importance, particularly in the USA and Australia.

Some of the articles included in this feed during 2012 detail that organisations internal policies and procedures are becoming critical components of an effective mechanism to educate and inform their employees about social media and how to use social media, such as LinkedIn, Twitter and Facebook, as a competitive advantage.

We expect to continue to see social networking on the list of key topics for all organisations.

2. Cyber risk 

This will forever be a hot topic from a risk perspective.  The hackers of this world get smarter ever day and the networks they have established enable the easy sharing of their techniques and tools.

The trends in Google searches relating to “cyber risk” highlight that cyber security, cyber fraud and cyber crime are rising as key topics for all organisations across the globe.  Over the last 12 months we have continued to see articles relating to hacker attacks of both government and commercial organisations.  Attacks appear to either be specifically targeted  (either in retaliation or to “out” people / organisations) or to be highlighting the vulnerability of systems and organisations.

Cyber risk though extends beyond hacking attacks, to include compromises designed to obtain insider information, customer records and details for usage in perpetrating fraud.  With all these different types of cyber threats, it is not surprising that this risk is an ever present hot topic.
3. Baby Boomer retirement (knowledge transfer & loss risk)

There have been a number of recent articles such as this recent article in AdelaideNow, “Older workers can fill the gaps“, highlighting the ongoing risks surrounding mature workers leaving organisations and taking their knowledge and experience with them.  This knowledge transfer & loss risk could become an achilles heel for many organisations as they continue to deal with economic uncertainty and rising workforce costs.  Mature workers could provide the transitional expertise for many organisations to navigate the risks of today and be better prepared for the risks of tomorrow.

4. Regulatory restraints 

Organisations will continue to feel and experience the regulatory response to the global financial crisis (GFC) and the commercial events since the GFC for many years to come.  Citizens of many countries are now able to be more active through social media, thereby increasing the government and regulatory response pressure.  This means that this particular risk remains on the radar for all organisations across the globe.

5. Government privatisation

As detailed in our original posting this is definitely happening but perhaps in a less impactful manner than originally expected in 2009.  Therefore, from a global perspective this has probably shifted outside the top 10 for most organisations.

6.  Disruptive threats

This particular risk has definitely risen in potential with constant examples of models being changed through disruptive technologies and models.  In particular, it is some of the smaller, nimbler players that will have the biggest impact and it is going to be important for incumbent organisations to consider how to stay in the game.  To counter this risk we are seeing many organisations developing their own internal “Start-ups” so they can compete in an ever changing environment.

7. Workers’ compensation insurance 

As detailed in our original posting, this has not become a significant global risk and therefore would not be in a top 10.  Interestingly though, this is a risk that can easily be forgotten in risk assessments and that does make it a potential “blind-side” risk.

8. Medical costs for workers’ compensation 

Consistent with the workers compensation insurance risk, this is another risk that would not be in our top 10.

9. Employment litigation 

This is probably an ongoing “watch list” risk rather than a top 10 risk.  Litigation in general, particularly in times of economic stress, can become a mechanism utilised to achieve organisation instability.  This is particularly evident in the technology industry at the moment.  From an employee litigation perspective, this is currently not a key risk but is once again a risk to always keep in mind.

10. Conduct Risk

We have renamed this risk from 2009 from “The employee non-disclosure risk” to conduct risk.  This is the eternal risk for all organisations, as every day decisions and processes occur and therefore process errors are made.  Human beings respond to their surroundings and the organisation culture in how they deal with these events.  Every organisation must ensure it understands that errors happen and people may try to hide what they have done.  This is even more present in cost reduction times where employees feel insecure in their roles.   The focus must be on providing assurance over key activities/controls from a risk perspective,  encouraging and rewarding escalation of incidents and issues, and employee education on culture and behaviour.

In addition to the 10 risks detailed above, we considered two additional risks in the 2009 article.

11. Human carelessness

As detailed in 2009, although we have moved to a world of computer automation humans are still involved in almost every process. Therefore the risk of human carelessness increases in proportion to the automation of activities, the expectation of multi-tasking and the merging of personal and work life.  In 2012 this risk has only increased in probability.

12. Innovation for innovations sake

In 2009 we highlighted a fear that organisations change & innovate almost everything because it is fashionable rather than for a true customer purpose.  This type of innovation creates risks on the operations of the business as well as the customer experience and employee frustration.  In 2012 the continual pressure to innovate, simplify and improve processes, particularly to reduce cost and wastage, increases the ever present risk of error and failure.  Organisations must manage the expectation of change with a balanced approach to manage the business risks associated with that change.

So, in four years what have we learnt?

The analysis we did on an article on the Top 10 Risks and Trends for 2009 could just as easily be an analysis of the top risks for 2013!  Risk management may be evolving but it is clear that the risks faced by organisations across the globe are ever present no matter if it is 2009 or 2013.

The post Remembering Top 10 Risks appeared first on Innovation of Risk.

ABS Group to Address Risk Management of Offshore Wind Projects

Jale Cairney, Business Development Director, Europe Renewable Energy at ABS Group will address the risk management concept and appropriate risk assessment strategies for offshore wind project specific transportation and lifting activities. See all stories on this topic »

The Maritime Executive

Adjusting risk to the global market's 'new normal'

Home · National Post · News · Opinion · Markets · Investing · Personal Finance · Tech Desk · Legal Post · Executive · Entrepreneur · Jobs · Executive · Careers & HR · Leadership in HR · Risk Management … See all stories on this topic »

Financial Post

NIST's Ron Ross on Risk Mgt. Framework

In a brief audio interview, which previews the RSA security conference panel Risk Management: How to Put Theory into Practice, Ross explains how organizations can deploy the information risk management framework in a volatile environment with business … See all stories on this topic »

BankInfoSecurity.com

Digest powered by RSS Digest

The post Today’s Links February 24, 2013 appeared first on Innovation of Risk.

Effective Positioning of the Risk Management Organization

The CRO is responsible for executing the risk program and providing another line of defense in protecting enterprise value. No other individual, function or group in a financial institution is charged with viewing performance exclusively from a risk … See all stories on this topic »

American Banker (subscription)

ICBC chooses AxiomSL for regulatory reporting and risk management

Axiom Software Laboratories Inc. (AxiomSL) was chosen for its robust regulatory calculation and reporting solution by ICBC (London) plc, a full subsidiary of the Industrial and Commercial Bank of China Ltd (ICBC), one of the largest banks in the world. See all stories on this topic »

RFPConnect.com

Medical Malpractice – 4 Risk Management Tips for Intake of Drugs

Medical Malpractice – 4 Risk Management Tips for Intake of Drugs. These strategies will protect you in the event of a recall. William Landess. deadly meningitis outbreak INTAKE INSIGHT The intake person should verify the condition of each drug product … See all stories on this topic »

OutpatientSurgery.net

Digest powered by RSS Digest

The post Today’s Links February 17, 2013 appeared first on Innovation of Risk.

Polish Clearing House Selects Nasdaq OMX Risk Management and OTC …

Aside from providing the trade lifecycle and sophisticated risk management required by KDPW_CCP and its members to clear OTC trades, the solution also interfaces with the CSD system KDPW_STREAM, trade confirmation platforms such as MarkitWire and … See all stories on this topic »

Forex Magnates

SBP for establishing strong risk management culture

KARACHI – State Bank of Pakistan (SBP) Governor Yaseen Anwar has stressed the need for inculcating a risk culture within the organisation with open communication channels between business lines and control functions for the sound management of … See all stories on this topic »

The Nation

Digest powered by RSS Digest

The post Today’s Links February 10, 2013 appeared first on Innovation of Risk.

RIMS donates $30000 to risk management resource organization McGannon …

RIMS, the Risk Management Society, has donated $30,000 to The William H. McGannon Foundation, a charitable nonprofit organization that provides funding and resources to support the advancement of the risk management and insurance professions in … See all stories on this topic »

Canadian Underwriter

4 Steps to Effective Enterprise Risk Management

4 Steps to Effective Enterprise Risk Management image risk umbrella2 300×300 The bigger a business is, the more it has to lose. If a company doesn't create an effective risk management plan, it could soon find itself in major trouble for overlooking an … See all stories on this topic »

Business 2 Community

Risk Management versus Risk Mitigation & Absolute Return versus Hedge Funds

The report accurately claims that active risk management is a key differentiator of hedge funds with respect to traditional asset management and that “risk management is by definition an active undertaking.” Unfortunately, however, not all hedge funds … See all stories on this topic »

AllAboutAlpha.com (blog)

Digest powered by RSS Digest

The post Today’s Links February 3, 2013 appeared first on Innovation of Risk.