Once a month, our Risk Roundup provides a recap of 10 interesting articles and online resources on Risk and GRC that caught our attention. Enjoy the recap for July 2018.
Chief Risk Officers have a key role to play in getting colleagues comfortable with the good kinds of risk. When CROs get involved early in the strategic process, create partnerships across functional lines and enable real-time risk guardrails, they can help their colleagues make the most informed growth bets. Read more
As companies seek to extend their global reach, many risks can enter the supply chain. Entering new markets requires forming new supplier relationships, engaging with state-owned entities, and adapting to local laws and cultures, all of which can present risks. This article highlights five steps that can help organizations proactively manage supply chain risk. Read more
As regulations proliferate and stakeholder expectations increase, organizations are exposed to a greater degree of compliance risk. To understand their risk exposure, many organizations may need to improve their risk assessment process to fully incorporate compliance risk exposure. While every compliance risk assessment is different, the most effective ones have some elements in common. Read more
Many organizations maintain an incident database to record incidents that occur. However, incident databases are not being used to their full effect in that there is no linkage to the risk register. This article describes why the linkage is so important and how to get the most out of an incident database. Read more
Executives can no longer manage technology risks from an IT department silo. Rather, they require an integrated enterprise risk management approach, as suggested by the COSO framework, that considers the impact of technology risk in the strategy-setting process, as well as in driving performance. This article discusses some of the more challenging technology risks facing managers. Read more
Most executives or mid-level managers focus their days on what they specialize in, whether it is finance, marketing, information technology, or customer service. Risk management is not their specialty. So how can you get them to be actively engaged in what you do? This article presents four ways to engage management in ERM activities. Read more
This article explores how internal audit can contribute to an organization’s recovery from an embarrassing scandal or high-profile risk and control failures. The circumstances of each failure dictate the particular role internal audit plays, but there are a few preventive or reactive roles to consider. Read more
Emotional Intelligence (EQ) trumps IQ every time. The smartest person in the room can quickly look foolish when unable to control his emotions or when unaware of how his or her behavior and attitude are affecting others. For internal auditors, who often find themselves in challenging interpersonal situations, emotional intelligence is critical to success. Read more
Business Continuity Planning (BCP) addresses the need to have contingency plans in place to deal with potential threats that can turn an organization on its head. You need to have a plan in place to clearly outline what you would do if the worst were to happen tomorrow. This article identifies four phases to putting your BCP in place. Read more
Risk management gets a lot of attention, but many project managers fail to take advantage of its benefits. This article identifies some simple and practical project risk management tips that can help project managers in getting better results. Read more
Visit Enablon Insights again a month from now to learn more about what caught our attention in Risk and GRC!
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