Risk Roundup – July 2016
Organizations face risks from all directions (regulatory, cybersecurity, financial, global competition, litigation, etc.). It is important to balance risks with opportunities, or view risk as a driver of opportunity. To help executives, Grant Thornton has released a GRC survey that assesses the management of GRC activities and processes across many roles and functions. An infographic is also available with highlights from the survey. View infographic
Risks facing companies can come from anywhere, which is why enhancing enterprise risk management (ERM) efforts is a popular topic among boards and the C-suite. This article provides five benefits of an integrated ERM programme from the proposed framework released by COSO. Read more
Many companies depend on risk management standards, frameworks and guidelines to provide needed guidance. There is right now a unique opportunity to influence two of the major risk management standards: ISO 31000 and the COSO ERM Framework. Read more
Risk and compliance challenges do not stop at traditional organizational boundaries. According to this GRC Pundit blog post, when third party management is performed through scattered silos, there is no possibility to be intelligent about third party performance, risk management, compliance, and impact on the organization. Read more
When organizations approach third party management in scattered silos, there is no possibility to be intelligent about third party performance, risk management and compliance. According to this GRC Pundit blog post, organizations need to approach third party management with an integrated strategy, process and architecture to manage the ecosystem of third party relationships with real-time information about performance, risk and compliance. Read more
Third-party relationships can affect shareholder value negatively or positively. Organizations that proactively manage third-party risks across the extended enterprise can achieve a number of benefits, such as increased productivity, contract and asset optimization, flexibility and expanded growth opportunities. Read more
In this “ISO Capsule” video from PECB, Friedhelm Düsterhöft explains the reasons why companies are failing ISO conformance audits. He highlights one of the most frequent non-conformities found across the various standards, which is the lack of documentation. Watch video
This post on Enablon Insights provides a summary of Mark Gallagher’s opening keynote at SPF EMEA 2016 where he explained how Formula One addresses safety, compliance and risk challenges. There are many lessons that Formula One can teach organizations of how to address these types of challenges. Read more
Supply chain risk management (SCRM) is becoming a top priority as organizations are losing millions from cost volatility, supply disruption, non-compliance fines and incidents that cause damage to brand and reputation. Comprehensive supplier management, combined with supply chain risk management, helps secure supplier relationships, prevent supply disruption, and ensure a company is operating legally and ethically. Read more
According to research conducted by the National Safety Council’s Campbell Institute, world-class organizations in EHS evaluate the risk of the work to be performed by contractors. Contractors are placed in a predetermined risk category, and each risk category may require contractors to take additional steps regarding their safety procedures and programs. Read more
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A Governance, Risk and Compliance (GRC) platform can help you enable holistic risk management in your organization to adequately prepare for threats and crises. Download The Forrester Wave™: Governance, Risk, And Compliance Platforms, Q1 2016 report and learn more about the 14 most significant GRC vendors.