Risk Roundup - November 2017

November 20, 2017
By Jean-Grégoire Manoukian

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 November 2017.

[Report] How Your Board Can Ensure Enterprise Risk Management Connects with Strategy

Good risk management doesn’t happen overnight. Management teams often struggle to get it right. Boards can play a key role encouraging executives to shore up risk management practices in their companies. But first you need to know what signs to look for that indicate enterprise risk management may be failing. Download report

Risk is the effect of uncertainty on objectives, which means that the implementation of any risk management system must begin with a clear determination of corporate objectives. The risk management function can then help achieve those objectives by assessing risks. Achieving corporate objectives in turn helps the organization create value. This is why there is a direct alignment between value creation and risk management.

Business Risks Facing Mining and Metals 2017-2018

This microsite from EY identifies the top 10 business risks for the mining and metals industry and the historical shift of risks. The microsite also features video insights, regional perspectives, and includes a link to the full report in PDF. View microsite

EY Mining Risk Radar Infographic

What 2017 Taught Businesses About Disaster Management

As governments, businesses, insurers and others tally the economic losses from this year’s natural catastrophes, some are already planning ahead for what’s next. About one-third of organizations see Hurricanes Harvey and Irma, Typhoon Hato, the earthquakes in Mexico and other disasters as catalysts to re-evaluate their emergency planning. Read more

Corporate Culture: The Center of Strong Ethics and Compliance

The lessons learned from scandals and organizational crises that trace back to the early 2000s make one thing clear: Without an ethical and compliant culture, organizations will be at risk. More and more, culture is moving from a lofty, “squishy” concept to something that should be defined, measured and improved. Read more

What Are the Biggest Risks for Internal Audit This Year and Next Year?

In this article, thought leader Norman Marks gives his perspectives on the 8 biggest risks that internal auditors should consider in 2018, such as: 1) Auditing risks that don’t matter to the board and top executives, and 2) Failing to communicate what matters when it matters. Read more

​5 Things That Should Spook Internal Auditors About the Future

Technology has accelerated the pace of change. We are in an era when a backlash to too much change in too short a period of time is affecting diverse areas. Some of the current geopolitical upheaval and economic uncertainty are repercussions of that pace of change. This article identifies five issues driven by technology and the pace of change that should spook all internal auditors. Read more

Supply Chain and Procurement: Risk Management Strategy

According to a report, 66% of managers do not have adequate visibility of their supply chain, yet 70% of them faced disruptions in the past year, 41% of them occurring in Tier 1 suppliers, and 34% of them experiencing incidents with cumulative losses of at least $1 million, resulting in reduced profit margins, decreased revenue, brand and reputation damage, delayed deliveries and, ultimately, customer losses. Read more

How Your Approved Supplier Program Can Reduce Your Risk

Everyone in the extended food supply chain works hard to ensure the safety of consumers. Companies also work to understand the various risks inherent in the supply chain. Selecting suppliers has inherent risks, so a comprehensive process is needed to mitigate any threats. Without properly vetting potential suppliers, companies may encounter existential challenges. Read more

How to Right-Size Your Risk Management Plan

A risk management plan should vary in size, depending on the size and scope of your projects. A project manager should work with their team to develop a risk management plan that is fitting to their project, aids in decision-making, and adds value. The plan should be documented but also kept practical and to-the-point. Read more

Visit Enablon Insights again a month from now to learn more about what caught our attention in Risk and GRC!

View the recording of our webinar with COFACE to learn more about their GRC journey with Enablon, and how to centralize risk, control and assurance activities:

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