In my article in CERM Insights #240, I discussed the results of the risk survey conducted annually by the World Economic Forum. The survey respondents are considered the economic elite. The responses provide an indication of the concerns of the movers and shakers of business. Consequently, the questions asked, and the risk concerns expressed are more policy oriented. Continue reading
The World Economic Forum conducts a risk assessment survey annually. The 2019 survey is the 14th edition. It contains information from 2009 to 2019. The article looks at the results of the survey for these years and discusses some implications. Continue reading
The term resilience is used in reports and studies by numerous government agencies and international institutions. For instance, in 20014 the Organization forEconomic Cooperation and Development issued a report entitled “OECD Reviews ofRisk Management Policies: Boosting Resilience Through Innovative Risk Governance”.
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In 2015 the Office of Management and Budget (OMB) issued Circular A-123. It requires all federal agencies to implement Enterprise Risk Management (ERM). ERM is a methodology which allows an organization to, in a systematic manner, identify, prioritize and reduce the adverse impact of risks events, such as fraud, cyber-attacks, mismanagement, and natural disasters, that could prevent the organization from accomplishing its mission and objectives. Continue reading
Internationally, Australian local governments are among the most sophisticated and prevalent with respect to Enterprise Risk Management (ERM) implementation. By way of example, out of 103 Canadian local government websites examined 15 have an ERM policy. In the United States, out of over 200 websites examined only 7 has some aspect of ERM. In Australia, of 140 websites examined 71 had an ERM policy. Continue reading