Risk Management for Directors

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I came across this excellent handbook on risk management for directors produced by the Governance Institute of Australia. It is not industry specific but gives a really excellent set of questions concerning risk management, that any director should be asking of his/her organisation and board Risk Management for Directors

Model Governance – It’s all about context & proof

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Summary The recent financial crisis is generally seen as a failure of risk management. This has sent shocks through the risk management world, both internally and in how we are perceived by the general populace. Many of the mathematical models and management tools are being reviewed and retested. In general the mathematical models themselves are not seen as being a …

FCA annual report focuses on Governance and accountability

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The UK’s Financial Conduct Authority published its latest annual report yesterday. you can read it here FCA report Yet again they aim to focus on governance at firms Effective governance at firms is critical to them embedding the right culture throughout the firm and achieving the right outcomes. but there are some interesting quotes that help us to understand where they …

Latest release of Governor

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We are very happy to announce the release of the latest version of Governor, 2016.1 This new release includes a number of major additions to the functionality: New reporting capabilities: selecting and organising fields, addition of text based comments and summary, export to MSWord and/or pdf Quick links: favourites & trending & recommended nodes Metric Groups: ability to organise metrics …

Risk Reporting Talk

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I was speaking at the New Generation of Operational Risk conference during the week. It was a really excellent event with good speakers and an enthusiastic audience of industry practitioners. There was some good debate (especially about the replacement for AMA!). Here are the slides for my presentation, which got a good discussion going on the issues and problems associated …

The Future of Risk Reporting

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I read a really well put together article by McKinsey on the future of Risk Management (see the link to the article below!). I was particularly interested in their view of the future of risk reporting: Enhanced risk reporting Developing next-generation risk reporting can start to enhance risk management now. BCBS 239 requirements have already prompted enormous efforts at all …

Role of the CRO

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A really interesting piece of research from Headhunters Hedley May on the role of the CRO – and the risk function – based on discussions with CROs in banking, insurance, investment management and other stakeholders. The qualities of a good CRO were found to include relationship building, influence and an ability to synthesise. These would provide the CRO with appropriate …

Risk Reporting

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I was very glad to give a speech at the inaugural event of the Irish Chapter of the Institute of Operational Risk. The event was well attended and I am looking forward to the Chapter flourishing. I spoke about the current difficulties around board and senior exec reporting and also gave some tips and hints to help people when presenting …

Challenges for a New Era of Enterprise Risk Management

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Challenges for a New Era of Enterprise Risk Management Enterprise risk has been around as a discipline in Financial Services since early in the 1990s. Over those years it has grown to be an important part of any risk department in most financial institutions. While there have been many successes for the enterprise risk community over the years, the discipline …