|KPMG survey identifies the long term damage to businesses that cyber attacks cause
Institutional investors shy away from hacked businesses.
Survey looks at top emerging UK risks
Cyber risk; the prolonging of the Ebola pandemic; and more regulatory and legislative changes are the top three priority risks for UK insurers in 2015, according to an ORIC International and Institute of Risk Management (IRM) joint survey.
Protecting your business from a new reputational nightmare: damaging gTLDs
Brands and organizations face a new reputational challenge this June when new and potentially damaging generic top-level domains (gTLD) are launched on the open market.
Marsh sets out a roadmap for modernising business interruption insurance
Risk management and risk transfer must work together to make organizations more resilient.
The winners of the IRM Global Risk Awards 2015
The winners of the Institute of Risk Management’s Global Risk Awards 2015 were announced at a recent ceremony in London.
Businesses face increasing number of disruptive scenarios
According to the Allianz Risk Barometer 2015.
‘COSO in the Cyber Age’
New report offers guidance on using COSO Frameworks to assess cyber risks.
Global Risks 2015
The World Economic Forum has published its annual look ahead at the risks that are likely to dominate in the coming years.
Survey sees a drop in the risk appetite of UK CFOs
Policy uncertainty at home and economic and geopolitical risks overseas are the central challenges facing chief financial officers (CFOs) of the UK’s largest companies as they enter 2015, according to a survey by Deloitte.
Airmic: many boards fall short of latest risk guidance
Over half of UK boards don’t sign off their company’s enterprise risk management programmes.
COSO announces Enterprise Risk Management-Integrated Framework update project
The Board of The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has announced a project to update the 2004 Enterprise Risk Management–Integrated Framework.
European organizations need to improve management of top risks: FERMA research
The Federation of European Risk Management Associations has published the key findings from its 2014 Risk Management Benchmarking Survey.
New report from the Institute of Risk Management looks at ‘Managing risk in complex 21st century organisations’
IRM urges companies to prioritise behavioural risk over ‘tick box compliance’.
New global initiative looks to turn global risks into opportunities
A series of workshops will identify opportunities related to five global risks: extreme weather; continued rise in non-communicable diseases; water scarcity; urban breakdown; and lock-in to fossil fuels.
Risk management associations work together on standards effort
The International Federation of Risk and Insurance Management Associations has established a working group to define ‘the core knowledge and competencies that lie at the heart of risk management in whatever context it is practiced’.
2015 will see the emergence of digital risk and the digital risk officer: Gartner
By 2020, 60 percent of digital businesses will suffer major service failures due to the inability of the IT security team to manage digital risk in new technology and use cases.
Study looks at enterprise risks in the luxury goods sector
Luxury goods companies believe that they face greater reputational risk than those in other industries, according to a report published by ACE Group in Europe.
Responding to Global Risks: a practical guide for business leaders
The Institute of Directors has authored a guide to outline the practical lessons for organizations from the World Economic Forum Global Risk 2014 report.
How-to guide for cutting information risk
New guidance document developed by a group of records and information management professionals in the financial services industry and published by Iron Mountain.
The top ten risks to Australian and New Zealand businesses
Results of Aon’s 12th annual Australasian Risk Survey published.
Academic study shows direct relationship between mature enterprise risk management practices and value growth
The Journal of Risk and Insurance has released ‘The Valuation Implications of Enterprise Risk Management Maturity’ study, the first wholly independent research project that confirms the value connection of mature enterprise risk management practices in organizations.
Political risk increasing across all BRICS countries
Aon Risk Solutions has published its latest Political Risk Map which identifies an increased risk rating for all five emerging market BRICS countries.
New IPCC report sets out the risks and opportunities related to climate change
Adapting to a changing climate is a risk management challenge.
New research report: Roads to Resilience
Cranfield School of Management and Airmic identify the five Rs of resilience that successful organizations display.
The top business risks 2014
Business risk consultancy Riskskill has highlighted what it sees as the main areas of increasing business risk for UK companies in 2014.
Survey shows that cyber crime and terror risk are under-rated threats
The risks of a hyper connected world: Aon.
Corporate responsibility risk not sufficiently tied to remuneration, says KPMG
Most large companies acknowledge risks from environmental and social ‘megaforces’ but few link corporate responsibility to remuneration.
FERMA moves ahead with plans to create a pan-European certification for risk managers
By February 2014, FERMA intends to have a first draft prepared for each of the four pillars of certification: knowledge, experience, ethics and continuing professional development.
ISO 31000 guidance document now available from ISO
ISO/TR 31004:2013 ‘Risk management: Guidance for the implementation of ISO 31000.’
Risk or resilience? Airmic stirs up a debate
Airmic technical director, Paul Hopkin, has started a debate about whether risk managers should be rebranded as resilience managers.
Social media challenging traditional approaches to managing political risk
According to a new report from Marsh.
FERMA explores climate change and risk management
Analysing and mitigating the effects of climate change have become pressing issues for risk managers.
Poor collaboration undermining risk management: KPMG
Many UK organizations are struggling to manage the threats they face because of inconsistencies in the way different teams communicate, share and interpret information.
Risk management increasingly the focus of top management
European companies are prioritising risk management as never before, although some weaknesses remain.
Enterprise risk management gaining ground: Deloitte survey
Alongside increased spending, risk management has also significantly risen up the agenda in the boardroom.
Total cost of risk jumps five percent: RIMS Benchmark Survey
Study provides information from more than 52,000 insurance programs from almost 1,500 organizations.
New COSO enterprise risk paper looks at managing sustainability risks
'Demystifying Sustainability Risk: Integrating the triple bottom line into an enterprise risk management program.'
Expectations of risk management outpacing capabilities
Increasing threat complexity means that challenges are growing faster than most organizations' abilities to respond: KPMG repor
The state of risk-based security management
The Ponemon Institute has published the first results from an extensive survey into the subject of risk-based security management.
KPMG survey looks at c-suite views on top risks
70 percent of c-suite executives say that regulatory changes have caused either substantial or moderate changes in their risk management and reporting processes in the past two years.
Natural catastrophes: business risks and preparedness
A new study by Zurich study has looked into how well companies are prepared to cope with natural catastrophes.
Risk leaders struggling to identify and manage major risks
Survey points to a significant decline in risk readiness among many of the survey respondents.
Risk in Review
A new PwC survey report outlines the imperative to strengthen risk management techniques around resilience, people, technology, and next-generation risk analytics.
IT risk factors survey
Protiviti survey finds top risk priorities for IT departments in 2013 driven by concerns surrounding mobile commerce and social media.
KPMG survey identifies concerns over companies’ risk management and crisis readiness programmes
Risk management programmes need to become more dynamic.
Compliance: audit committees face challenges in 2013
Complexity, speed of changing global business and risk environment will test audit committees in 2013.
Global Risks 2013 report launched
World Economic Forum report highlights emerging risks.
Social media is often a reputation management ‘blind spot’
Some companies are completely ignoring online crises finds the Zeno Digital Readiness Survey.
ASIS and RIMS to develop joint risk assessment ANSI standard
Associations call for experienced professionals to join risk assessment standard technical committee.
Risk Assessment in Practice: new ERM thought paper
COSO paper aims to capture the latest thinking on risk assessment approaches and techniques.
Majority of major companies are failing to manage future water risks
According to a KPMG report.
Supply chain continuity advice issued by Marsh
‘Taking an Investment Portfolio Approach to Supply Chain Risk Management.’
Innovative strategies for dealing with unexpected risks
PwC report looks at ‘Coping with the unknown: Risk management strategies for an uncertain world.’
The evolving role of the risk professional
New RIMS report explores risk management’s move from protective to value-creating.
‘Enterprise risk management for cloud computing’
Managing the risks of cloud computing is the focus of COSO’s latest thought leadership paper.
Risk monitoring is not yet being widely embraced
According to a Deloitte survey.
The Fifth Emerging Risks Survey
Eighty-Four percent of risk managers have C-Level Input and the power to influence strategic business opportunities.
Cultural factors are a key challenge for consistent global risk management: Aon Risk Maturity Index
Organizations must consider cultural differences when setting the risk management framework strategy.
Exploring Risk Appetite and Tolerance
New RIMS report explores risk appetite terms, practical applications and examples.
Risk: boards demand integration
Senior executives are demanding convergence with governance and compliance, according to a KPMG survey.
US private companies and risk resilience
PwC's Private Company Trendsetter Barometer looks at attitudes to risk and preparedness in US private companies.
Attitudes to risk are changing
The business world is on ‘the cusp of a major revolution’ in its understanding of disaster risk reduction, according to Rowan Douglas.
COSO issues risk appetite thought paper
‘Enterprise Risk Management - Understanding and Communicating Risk Appetite.’
Water-related risks not being given the attention they deserve
Over half of companies report exposure to water-related risks such as flooding, scarcity, and reputational damage; but management of these risks trails climate change on the boardroom agenda.
Companies need to consider the virtual as well as physical supply chain: FERMA president
Impacts of cloud computing on supply chain risk management among various emerging issues discussed at the opening reception of the 2011 FERMA Risk Management Forum.
PwC survey looks at risks faced by B2B companies in the social media world
A new report by PwC,‘Uncovering B2B social media: Value, innovation and engagement’ has surveyed companies attitudes to social media in order to show the levels of ‘social media maturity’.
ISO/IEC 27005:2011 standard now available
Provides a framework for implementing a risk management approach to managing threats to information security management systems.
BSI publishes new risk management code of practice and guidance
‘BS 31100:2011: code of practice and guidance for the implementation of BS ISO 31000’.
Glass ceiling keeps non-execs in the dark about corporate risks and increases risk of business failure
An invisible glass ceiling is preventing vital risk information from getting to non-executive directors and other board members.
Does your company suffer from risk blindness?
Research identifies seven types of underlying risk that companies often overlook.
UK companies at risk from inadequate social media policies
The majority of UK employees have not been provided with clear guidance on using social media networking sites, according to a new study from Protiviti Inc.
Strategic risk management: an emerging discipline
‘RIMS has attempted to define what is meant by ‘strategic risk management’ (SRM).
Attitudes to risk management explored
Few organizations are effective at anticipating and measuring emerging risks.
UK commercial insurance ‘not fit for purpose’: Mactavish/PwC report
UK companies are exposing themselves to significant and unnecessary losses due to serious flaws in the way their corporate insurance policies are arranged.
Not all business interruption insurance policies can be relied on...
Insurers are making it more difficult to make a claim under BI says Aon.
COSO releases results of two surveys on the current state of enterprise risk management and risk oversight
Studies suggest that there is room for enterprise risk management improvement in many organizations.
Black swans, grey swans, white swans… By Geary W. Sikich.
CPNI issues supply chain risk management advice
The UK Government’s Centre for the Protection of National Infrastructure (CPNI) has published a new document which gives advice on handling supply chain vulnerabilities.
App risk management advice
Espion urges organizations to tackle the growing threat posed by apps in the workplace.
Shortlist published for 3rd IRM Global Risk Awards
The Institute of Risk Management’s Global Risk Awards will be presented on 19th February 2015 at the Park Lane Hilton hotel in London.
Don't treat climate change as a ‘Doomsday’ scenario: climate scientist tells risk managers
“The biggest risk in dealing with climate change is to treat it as Doomsday and think there is nothing we can do about it…”
Managing Reputational Risk to Drive Strategic Performance
A new RIMS Report offers a step-by-step approach for successfully managing reputational risks.
Companies with a higher Risk Maturity Rating and greater board oversight realize superior operational financial performance
According to an Aon/Wharton School report.
Risk responsibility lies with the board: Financial Reporting Council
Airmic has welcomed revised guidance from the UK Financial Reporting Council (FRC) which makes clear that ultimate responsibility for risk management and internal control lies with the board.
Airmic to work with Reputation Institute to ‘tackle the complex subject of reputational risk’
The two organizations aim to develop a framework setting out an agreed definition of reputational risk and an understanding of its drivers and what can be done to mitigate and insure against it.
Rise in cloud app data sharing exposes enterprises to greater risk
Netskope report finds that, on average, 508 cloud apps are in use per enterprise, yet 88 percent are not enterprise-ready.
FERMA plan for European certification of risk managers gets the go-ahead
The general assembly of the Federation of European Risk Management Associations has agreed a framework and funding to create a European certification for risk managers.
Five Lessons for businesses from the latest fraud statistics
Organizations worldwide lose 5 percent of revenues to internal theft; fraud risk needs to be directly managed.
Cyberspace in 2025
How is cyberspace likely to change over the coming decade and what things should business continuity managers be prepared for? Microsoft has released a new report that aims to provide some answers.
Climate change related resilience planning has become crucial for all corporations
S&P 500 companies are seeing climate change related risks increase in urgency, likelihood and frequency: CDP report.
Transitioning To Enterprise Risk Management: new RIMS report
Report highlights steps for risk professionals to transition from traditional risk management programs to enterprise risk management.
New ISACA guide shows how the updated COSO Framework relates to COBIT 5
A new guide released by ISACA shows how the latest versions of the COSO Internal Control - Integrated Framework and COBIT relate and helps professionals who use both frameworks to create business value for enterprises in all industries and geographies.
New COSO thought leader paper demonstrates how enterprise risk management and internal control frameworks improve organizational performance and governance
‘Improving Organizational Performance and Governance: How the COSO Frameworks Can Help.’
Why social media is moving up the risk register and why risk managers should be worried
Social media is here to stay with some analysts predicting that by 2016 as many as 40 percent of enterprises will utilize social media as a customer service channel. So why should this worry risk managers? Surely social media is the responsibility of the marketing department and aren’t there policies and procedures in place to prevent anything from going wrong? Think again.
Executive perspectives on 2014 US organizational risks
Overall, the majority of executives rate the business environment as significantly risky, but see the risk landscape as improving relative to 2013.
Maplecroft publishes its Political Risk Atlas 2014
Since 2010, almost 10 percent of countries worldwide have seen a significant increase in the level of dynamic political risk.
Information security and risk management moving up the boardroom agenda
Security and risk management are now regularly included on the agenda for UK company board meetings, according to a Vanson Bourne survey.
Reputation becomes the top strategic risk
Company reputation and the fallout from reputational damage are the highest priority strategic risk for large companies, according to the results of a global survey report by Deloitte.
FERMA to start risk management certification project
Aims to create a European certificate of professional competence for risk managers.
Enterprise risk management gaining traction
The 2013 RIMS Enterprise Risk Management Survey has found that more than 60 percent of participating organizations have implemented ERM programs.
Draft supply chain risk management published by NIST
NIST Special Publication (SP) 800-161 provides guidance to federal departments and agencies on identifying, assessing, and mitigating ICT supply chain risks at all levels in their organizations.
Research finds that resilient firms are those that eliminate internal barriers
Resilient companies do not depend solely on processes or compliance; they create an environment where everyone is risk-aware and barriers between senior managers and their staff are reduced to a minimum.
Culture more important than strategy when it comes to risk management
Culture is more important to your organizations' future success than your strategy, a keynote speaker said at the Institute of Risk Management’s recent Forum in Ashford, Kent, UK.
Aon launches guide to risk management information systems
Includes a calculator to demonstrate ROI.
The 10th annual Terrorism and Political Violence Map
Forty-four percent of countries measured have identifiable terrorism risk in 2013: Aon.
Location risk report
New York, Singapore, Toronto, London and Montreal ranked as the top five lowest-risk cities in the world.
Australian Securities and Investments Commission consults on risk management for responsible entities
ASIC has released a consultation paper and proposed regulatory guidance on risk management practices for responsible entities in the managed funds sector.
Geomagnetic storms and extreme solar weather threats should be considered
A new Aon Benfield report says that geomagnetic storms and extreme solar weather are a realistic threat to three critical areas of modern infrastructure.
Risk management: top risk areas for 2013
Geary Sikich’s top picks for emerging crisis issues and high impact risks in 2013.
How 'black swans' and 'perfect storms' become lame excuses for bad risk management
Stanford risk expert recommends engineering principles to assess catastrophic risk.
FERMA developing risk manager certification road map
Plan for European certification scheme will be ready by September 2013.
Risk management maturity is linked to better corporate performance
According to FERMA's 2012 Risk Management Benchmarking Survey.
New guidance on risk culture
The Institute of Risk Management has issued two guidance documents on the subject of risk culture.
UK Centre for the Protection of National Infrastructure introduces ‘HoMER’
Guidance on the ‘holistic management of employee risk.’
PwC study looks at boardroom attitudes to risk management
More than one-third of survey respondents say their boards have no clear allocation of specific responsibilities for overseeing major risks among the board and its committees.
Prospering in an era of uncertainty: the case for resilience
A new white paperlooks at the subject of resilience and how organizations are starting to include it as one of the core aspects of enterprise risk management.
New guide to business risk published by the Institute of Directors
‘Business Risk – A practical guide for Board members’ aims to improve board members’ understanding and management of risk in order to successfully deliver growth and prevent future crises.
Supply chain risk is a key concern for manufacturers
Near shoring seen as an effective mitigation route.
FERMA launches pan-European risk management certification project
The Federation of European Risk Management Associations (FERMA) has launched a project to work towards the creation of a pan-European certificate of professional competence for risk managers.
The Mission Risk Diagnostic Method
The Carnegie Mellon Software Engineering Institute has developed a new method of assessing risk in ‘interactively complex, socio-technical systems across the life cycle and supply chain’.
Many boards show ‘risk blindness’: Airmic
Risk blindness is a recurrent threat to UK businesses.
Aon 2012 Terrorism & Political Violence Map
37 countries are downgraded in the 2012 Terrorism & Political Violence Map.
Risk managers and senior leaders differ on role of risk management
According to Marsh-RIMS survey.
Risks are increasing in quantity and severity
According to the 2012 State of the Internal Audit Profession study.
PwC report identifies a ‘fundamental shift in risk management’
Widening global risk landscape driving risk management change.
Research shows strong link between risk management investment levels and financial performance
Financial performance is highly correlated with level of integration and coordination across risk, control and compliance functions.
KPMG highlights ten sustainability ‘megaforces’ that businesses need to consider to ensure long-term survival
A new KPMG report, ‘Expect the Unexpected: Building Business Value in a Changing World’, explores how global forces such as climate change, energy and fuel volatility, water and other resource availability and cost, plus population growth spawning new urban centres, may impact businesses.
Moremi: A Legend in Risk Management
New film highlights valuable lessons that risk managers can learn from ancient African stories.
Global Risks 2012
Annual World Economic Forum report highlights a shift of concern from environmental risks to socioeconomic risks.
Supply chain horizon scanning: Strait of Hormuz related issues should be monitored
If Iran follows through on its threat to close the Strait of Hormuz it would have a major impact on global supply chains.
Cultural effects on risk perception
Risk perception is highly subjective and therefore culturally specific: what may be considered a risk in one country may not be in another.
PwC asks: Are black swans turning grey?
New PwC paper says that companies are not prepared for the new risk landscape.
Geolocation risks to enterprises examined
ISACA publishes guidance in ‘Geolocation: Risk, Issues and Strategies’ paper.
KPMG survey finds increasing concerns about information technology risk
Audit committee members see IT risk shortcomings posing threats to companies.
Institute of Risk Management issues new guidance on risk appetite
Document is aimed at board members as well as risk professionals.
Survey results: What makes a great risk manager?
Global survey also highlights issues which could impact the success of enterprise risk management initiatives.
Risk management and corporate governance: FERMA comments on European rules
Federation of European Risk Management Associations opposes moves to require companies to publish more information on their risk appetite.
Future energy risks are ‘top threat’ to UK organizations
Many businesses have identified the risks associated with energy but do not have a strategy in place to manage them.
Changing attitudes to risk management
Corporate risk management, viewed largely as a means of crisis management in the wake of the 2008 global financial crisis, has moved up the corporate agenda as a key to competitive advantage, according to a new report by Accenture.
Bribery Act sends UK plc scrambling for protection from new business risk
BSI developing a new standard that will help prove that appropriate actions have been taken.
Social media: questions that risk managers need to ask
To mitigate their social media exposure, companies need a consistent and integrated risk management strategy.
Intellectual property risks being under-estimated by many organizations
Failure to provide adequate protection for IP has the potential to threaten an organization’s survival.
Risk and the Boardroom Agenda
A new paper from Marsh explores the ‘unprecedented risk management challenges’ that organizations face today and proposes strategies for managing these risks.
IRM launches consultation on risk appetiteThe Institute of Risk Management has released a consultation paper which aims to develop guidance for organizations on the subject of risk appetite.
The top ten current business risks
It is more important than ever for organizations to embrace an enterprise-wide approach to managing risk...
Ten early warning signs of fraud in organizations
Fraud is an increasing enterprise risk but many organizations don't notice the early warning signs that a problem exists. A new checklist provides some help...
Deloitte’s latest financial services risk management survey finds that 79 percent of institutions have an ERM program or equivalent in place.