Risk Roundup – November 2015
Hopefully these three monthly series will give you valuable insights into the most interesting and trending topics in EHS, Sustainability and Risk.
This video from Anglo American shows how the global mining company performs integrated risk management at the site level. It also explains the 4 layers of the ORM process: Baseline Risk Management, Issue-Based Risk Management, Task Risk Management and Continuous Risk Management.
In this article, CGMA provides highlights from EY’s 2015 global governance, risk, and compliance survey. In addition, it summarizes six steps recommended by EY to better take advantage of risks worth taking, prevent counterproductive risks, and be prepared for external risks outside of the company’s control.
This insightful article on GreenBiz is from Anna Clark, who moderated the keynote panel at SPF Americas 2015, and focuses on resilience. Clark explains that organizational risks and stressors can provide opportunities for companies to become more resilient, and compliance is a gateway to resilience.
LNS Research explains the potential applications of the Internet of Things (IoT) in risk management. For example, wearables could determine if employees are exposed to unsafe conditions. In addition, proximity sensors can help prevent an incident by virtue of an alarm, log every single breach of proximity, unauthorized use, and every proximity-related near miss.
Tom Wilson, the CFO of a large construction company in Canada, gave a dramatic account at the 2015 Safety Leadership Conference of the lessons he learned as a plane crash survivor. Wilson explains how “risk tolerance is not hazard recognition”. A company may identify a hazard successfully, but that does not mean that it necessarily assesses the risk properly.
In this article from Canadian Occupational Safety magazine, safety professionals are told that they need to better understand employees’ perception of risk and risk tolerance if they are to build effective systems to reduce risk. The article describes seven factors that increase a worker’s risk tolerance and three that decrease it.
This infographic from MH&L and UPS is about the risks associated to supply chain disruption, and strategies to mitigate and manage supply chain risks.
Paul Hopkin, technical director at the Institute of Risk Management, explains that human behaviour and risk culture are the most important factors behind risk management failures, not technology. In addition, Hopkin says that risk management success depends on the tone and commitment from the top..
More organizations are moving towards naming a full-time, standalone Chief Compliance Officer (CCO) who reports directly to the board, according to Deloitte’s In Focus: 2015 Compliance Trends Survey. However, even large organizations maintain relatively small compliance teams, with the exception of financial services organizations.
This exclusive report by Info-Tech Research Group provides a blueprint of the project steps and activity instructions necessary to streamline your GRC solution selection process and implementation planning. The report also includes Info-Tech’s GRC Vendor Landscape to help you compare vendors.
We hope you enjoyed this very first Risk Roundup on Enablon Insights. Join us again a month from now to learn more about what caught our attention in Risk and GRC.