CERM Risk Insights #34

Hello Readers:

This year, 2013, was huge for risk and risk management.  ISO is adopting risk in most of its standards.  This is occurring with most national standards.  Global events such as comets, global warming, natural disasters, and political events are increasing in complexity and ferocity.  VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) is the new normal.
Enterprise Risk Management (ERM) is evolving into a discipline.  Organizations and associations are adopting ERM and are even rebranding themselves as ERM organizations.  ERM is being incorporated into statute, rules, standards and guidelines in more than 23 sectors.
Operations, supply management, cyber security, and non-compliance are material and reportable risks.  They will increase markedly in 2014.  So in this issue, we’re offering ERM surveys and tips of how you can position and prepare yourself for 2014.
May we wish you all a Happy and Very Prosperous New Year.
Greg Hutchins PE CERM | CERM Academy | Quality + Engineering | 503.233.1012 | 800.COMPETE
Future of Quality: Risk®
 
Risk Management for an Era of Greater Uncertainty by Accenture.  Accenture and the global consulting companies are positioned ahead of the curve.  The 2013 Global Risk Management emphasizes VUCA, importance of people, and being preemptive.  
 
Global Risk Management Survey by Deloitte.  Each of the global Big 4 accounting firms has excellent resources and risk surveys.  We chose Deloitte because it focused on a critical sector – financial services and banking.  If you’re in a different sector, google the sector and risk.  You’ll come up with a recent survey that is more tailored to you.
 
Risk – Reward – Demystifying Sustainability Risk by COSO.  Good example of the integration of ERM into the triple bottom line: social, environmental, and economic.  We’re going to see much more of this in 2014.  
 
Transformation of IT Risk Management b KPMG.  Good overview of information risk and risk management.  Google cyber risk and you’ll find more risk information.
 
The Sharp Side of Risk by Forbes Magazine and Zurich.  Zurich has rebranded as a risk management organization.  Survey has interesting data on banking and construction risks.  
 

Executive Order: Improving Critical Infrastructure Cybersecurity by President Obama.  The cyber security executive order portends the future of war and most asymmetric conflict – computer warfare.  The recommended cyber risk management framework can be used by government and commercial organizations.

CF Disclosure Guidance: Topic No. 2 – Cybersecurity by US Securities and Exchange Commission.  While this is US – centric an applies to cyber breaches and is 2 years old, we’ll see more of these statutory documents in most/all of the world in a few years dealing with material risk for operations, supply management, environment, and even corporate social responsibility.  

Emerging Risks in the Supply Chain 2013 by SCRLC.   As more companies outsourced critical processes, supply chain risks are material and increasing.  There are a number of supply chain risk surveys that can be googled.  
 
Meeting the Challenges of ERM in Higher Education by NACUBO.  All education throughout the world is being disrupted.  This ERM model was published a few years ago, but we still get lots of requests.
 

ISO 9001 (2015) standard by ISO.  This standard will impact 1.1 million companies and it has a strong risk flavor.  Obtain a copy of ISO 9001 (2015) Committee Draft or wait a few months and purchase the Draft International Standard.     

 

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