Enterprise Compliance Today

Using Neural Networks for Risk Identification

Posted by Greg Carroll on Tue, Feb 20, 2018 @ 08:55 AM

Although risk identification is a fundamental tenet of ISO 31000, from the GFC to Brexit traditional methods have spectacularly failed.  Neural Network mapping is the first real technique to actually identify risk drivers and their outcomes.

Read More

Tags: corporate governance, risk management, risk identification, decision making, risk analytics, neural network

What Donald Trump’s win tells us about Decision Bias

Posted by Greg Carroll on Sat, Nov 12, 2016 @ 09:36 AM

Just like the Brexit win 2 months ago, Donald Trump’s election as US President beggars belief but has some valuable lessons to learn from both a Risk Management and corporate governance perceptive.

Read More

Tags: corporate governance, risk management, risk identification, decision making

Brexit and the failure of ERM

Posted by Greg Carroll on Mon, Jun 27, 2016 @ 02:27 PM

I have often written on my view that there is an over emphasis these days on Black Swans in risk management. The Brexit vote on Thursday not only shot shockwaves through financial markets but has created a whole new paradigm to world economic stability both short and long term.  And if Risk is defined as uncertainty then as of today, this must be one of our greatest risks.

Read More

Tags: corporate governance, risk management, risk identification

How to Identify Corporate Risks in ERM

Posted by Greg Carroll on Fri, Jun 26, 2015 @ 03:16 PM

An effective Corporate Risk management system (or ERM) requires developing a detailed inventory of all the drivers and influences and how they affect the organisation.  It requires a methodical and introspective commitment to fully understand what makes things tick, but as with most things, a bit of effort upfront produces a lifetime of benefits.

Read More

Tags: corporate governance, risk identification

Time to Revise the ISO 31000 Risk Management Standard

Posted by Greg Carroll on Thu, Feb 19, 2015 @ 09:00 AM

With the recent release of a new British standard BS 65000 on Organisational Resilience, and COSO’s announcement of a review of its 2001 COSO ERM framework, I believe that business is moving ahead of ISO 31000 as a necessary response the evolving business environment and accelerating rate of technical change; therefore there is a strong case for a taking a fresh look at ISO 31000.   

Read More

Tags: risk management, Resilience, risk identification

Resilience - The Evolution of Risk Management

Posted by Greg Carroll on Thu, Feb 05, 2015 @ 09:27 AM

In the last decade we have seen the evolution of Risk Management from an administrative practice to ERM for corporate governance.  But the realization that results come out of action not protection, has started people pursuing a more proactive role for risk management.   

Read More

Tags: risk management, Resilience, risk identification

The Risk Outlook for 2015

Posted by Greg Carroll on Thu, Jan 22, 2015 @ 08:51 AM

It is customary at this time of year for most risk professionals to step back and take a broader look at the risk landscape ahead for the coming year. The normal starting point is the “think-tank” assessments of Global Risks such as Zurich Risk Landscape 2007-2015 and the WEF’s 2015 Global Risk Report.  And Global Warming is at the top of most experts’ lists.

Read More

Tags: risk management, Resilience, risk identification

Emerging Risks II – The Black Swan Syndrome

Posted by Greg Carroll on Thu, Oct 02, 2014 @ 10:10 AM

In part 2 of my analysis of the ISO 31000 forum on “Does anyone really understand Emerging Risks?” I look at the 3rd question: How do you manage the unknown?

Read More

Tags: corporate governance, risk management, risk identification, risk evaluation

Does anyone really understand Emerging Risks?

Posted by Greg Carroll on Fri, Sep 19, 2014 @ 12:00 PM

I recently opened an ISO 31000 Forum discussion on “Does anyone really understand Emerging Risks?”  The discussion proved illuminating so in this week’s post I thought I would share a summary of the forum discussion.

Read More

Tags: corporate governance, risk management, due diligence, risk identification

How to use Strategic Imperatives to focus Corporate Risk Management

Posted by Greg Carroll on Wed, Aug 06, 2014 @ 02:00 PM

Risk exists everywhere - the problem is knowing what to focus on. ISO31000 definition of risk as “the measure of uncertainty in a situation” hasn’t done a lot to clarify what corporate risk means for Directors providing "good corporate governance".

Read More

Tags: corporate governance, risk identification, Strategic Management