lunes, 27 de junio de 2011

ERM in the News - June 22, 2011

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ERM in the News

 

Volume 4, No. 9

June 22, 2011

 

The Enterprise Risk Management Initiative (ERM Initiative) at North Carolina State University's Poole College of Management is sending you this brief e-mail newsletter to highlight the following recent ERM-related news:

 

1. Managing Political Risks
2. Raising Awareness about Cybersecurity Risks

3. Evaluating Supply Chain Risk
4. Assessing Effectiveness of ERM Programs

5. Webinar on Strategic Risk Oversight

6. Risks Associated with Climate Change and Sustainability

7. Practical Steps to Strengthen Your Organization’s Risk Oversight

 

See the following for additional information:

 

Managing Political Risks

The recent turmoil in the Middle East, the tsunami in Japan, and the unfolding political regime in Greece provide recent examples of how political risks are at the forefront of management’s attention for organizations with operations around the globe. As companies try to tap into the market prospects of doing business around the world, they are finding that countries with the most enticing opportunities often are in some of the most politically risky environments. The June 2011 issue of CFO Magazine analyzes how organizations are realizing the need to think more robustly about how shifts in political risks may affect the risk profiles of their global operations. Read more

 

Raising Awareness about Cybersecurity Risks

With growing frequency, the business press is reporting security breaches at highly reputable organizations whereby sophisticated cybercriminals gain access to highly sensitive information. Valuable corporate information assets, in addition to personal or financial information of customers and employees, can be exposed. As a result, organizations are making cybersecurity risk a top-priority of their enterprise risk analysis given the numerous risk issues that cybersecurity breaches create for organizations who experience an intrusion event. A recent white paper, issued by the law firm of Sidley Austin LLP, provides a number of issues to be considered by senior executives as they evaluate cyber risk exposures. Read more 

Evaluating Supply Chain Risk
While the push towards increased outsourcing and just-in-time methods of managing a supply chain can create cost reductions, it can also potentially increase risk exposures that may be well beyond an organization’s risk appetite when significant disruptions strike. Recent events, such as the Japanese tsunami, are revealing significant risk threats that exist along the supply chain of many organizations. A recent CFO Magazine article emphasizes the importance of spending time to thoroughly analyze vulnerabilities along an organization’s supply chain to develop plans of response when major disruptions arise. Read more

Assessing Effectiveness of ERM Programs
In light of some of the recent failures of financial services and other companies around the globe, the growing political unrest in foreign governments, and massive natural disasters, one of the greatest risks an organization faces is the lack of an effective ERM program. As boards continue to increase their expectations for management to design and implement effective enterprise-wide risk management programs, they have an increasing need for objective assessments of the effectiveness of those programs. The June 2011 cover story article in Internal Auditor highlights the role internal audit can provide in conducting those assessments for the board. Read more

Webinar on Strategic Risk Oversight
Our ERM Initiative Director, Mark Beasley, was the keynote speaker for a June 8, 2011 webinar titled, “Strategic Risk Oversight,” hosted by Compliance360. Beasley shared insights about the current state of enterprise risk oversight and how organizations are striving to more effectively embed their risk oversight processes in the context of the organization’s strategy. He highlighted the need for effective key risk indicators to help executives more proactively monitor their most significant strategic risks to keep their strategy efforts on track. Listen to the webinar (free of charge)

Risks Associated with Climate Change and Sustainability

The growing focus on climate change and issues related to sustainability are creating opportunities and risks for organizations. Some organizations are viewing issues associated with sustainability as an opportunity to market or brand themselves as a good corporate citizen as it relates to the environment. Others are looking at climate change and sustainability as a source of potential risks that may threaten the organization’s business model for the future. A recent Ernst & Young thought paper analyzes how climate change and sustainability may interact with strategic, compliance, financial, reputational, and operational risks. Read more

 

Practical Steps to Strengthen Your Organization’s Risk Oversight

Interested in learning how your organization can leverage its risk management efforts for strategic advantage? Join us on October 13-14, 2011 in New York for the 1½ day workshop: Strengthening Your Enterprise’s Risk Oversight for Strategic Benefit. This workshop – our last offering of this was sold out – provides practical guidance and real-world examples to help senior executives and their board of directors develop a risk oversight process that is embedded in the context of the organization’s strategic plan. Prior participants rave about the down-to-earth tactical approach presented in this workshop for identifying, assessing, and managing an entity’s most significant risk exposures, including emerging strategic risks. This high-level forum, limited to 50 participants, offers attendees an interactive setting for dialogue with leading experts on trends related to the intersection of ERM and strategic planning, in addition to providing an opportunity for the exchange of ideas. Register now to ensure a seat in the course. Learn more

 

 

The ERM Initiative provides executive education for boards of directors and senior executives focusing on the integration of enterprise risk management with strategic planning and board risk oversight. Contact us at ERM_Initiative@ncsu.edu or 919.513.0901 begin_of_the_skype_highlighting            919.513.0901      end_of_the_skype_highlighting further details or visit our website at www.erm.ncsu.edu.

 

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