Once a month, our Risk Roundup provides a recap of 10 interesting articles and online resources on Risk and GRC that caught our attention. We hope you enjoy the recap for May 2016.
According to the 5th annual survey by PwC, companies must pursue two parallel strategies to remain competitive: 1) build agile and flexible risk management frameworks that can anticipate and prepare for the shifts that bring long-term success, and 2) build the resiliency that will enable those frameworks to mitigate risks and keep the business moving towards its goals. Read survey
Organizations should always be on the lookout for more rigorous and effective methods to mitigate risk, and boards play an important oversight role. According to EY, big data is no longer just a sales and marketing subject for the boardroom, as directors increasingly recognize the value of big data and what they can “refine” to improve decision-making. Read more
The constantly changing regulatory environment increases the vulnerability of most organizations to compliance risk. The complexity of the risk landscape and the penalties for non-compliance make it essential to conduct thorough assessments of compliance risk exposure, according to this Deloitte Insights article. Read more
Risk is defined as the effect of uncertainty on objectives. An effect is defined as a deviation from the expected that can be positive or negative. But many organizations have a focus on the negative. This webinar organized by the PECB explores whether organizations really understand the need to balance the positive and negative. It also explains how organizations can maximize their opportunities while still mitigating or controlling their risks. Watch webinar
If you want to successfully manage risk, it helps to use the correct risk terms and expressions. People sometimes confuse Internal Audit and Internal Control. This post on Enablon Insights explains the difference between the two. Internal Audit is a function, whereas Internal Control is a set of measures.
In general, you can save time, effort and money by attacking significant risks early. This article by Harry Hall provides tips on how to respond to operational and project risks. Regardless of the type of risk, you should look for ways to identify and control risks early. Read more
Some project managers make timely responses to risks, resulting in positive progress towards their project goals. Others act haphazardly, resulting in undesirable consequences. In this article, Harry Hall lists the 12 common mistakes made by project managers when responding to risks. Read more
Organizations are failing to assess the risk of attacks and data breaches from vendors and supply chains. The state of third-party risk management is going to continue to rise with the emergence of new technologies. Therefore, instilling the importance of a positive tone at the top is crucial. Read more
Climate risks may affect corporate operations, investment decisions and supply chain management. Further complicating things is the fact that there is no “right or wrong” when it comes to assessing corporate climate risk. But poorly supported risk assumptions may leave considerable risk on the table. Read more
The number of large investors who completely ignore climate change risks in their financial decisions rose last year, according to a new ranking of the top 500 funds. The Global Climate 500 Index rates the world’s 500 largest asset owners on how well they are managing climate risk in their portfolios. Read more
Visit Enablon Insights a month from now to learn more about what caught our attention in Risk and GRC!