On January 15, 2013 PRMIA’s New York Chapter held an event “Big Data – What is its Value to Risk Management?” The audience consisted of a crowd of risk managers, information technology experts, academia, and others data professionals. We all…
Risk Mgmt
Three Steps to More Insight from Key Risk Indicators
By: Brian Barnier As the plane bumped along in choppy air, the pilots scanned their instruments for data – both on the weather and the performance of the plane to its capabilities. As we disembarked at LGA, the pilot remarked,…
Top 10 Risk Management Blogs
Our mission at RiskArticles.com is to promote effective risk management and governance practices in the financial services industry. We do this through our several article posts. As part of our knowledge gathering we read several risk management blogs. Listed below…
Defining Risk Appetite & Risk Threshold
By: Chizubel Egwudo The very basic way to define risk appetite can be likened with eating food. When we think of food, if faced with a choice of whether to go to work on an empty stomach, a number of…
When is a Black Swan Not a Black Swan?
By: Geary Sikich Introduction There seem to be a lot of sightings of ‘black swans’ lately. Should we be concerned or are we wishfully thinking, caught up in media hype; or are we misinterpreting what a black swan event really…
Reputation is Expensive
I have recently conducted a survey to gauge views around which risk is more costly to a firm if completely ignored. Although none of the risk types should be completely ignored, it was interesting to find out what people would…
The High Cost of “ERM Herd Mentality”
By: Tim J. Leech Enterprise Risk Management (“ERM”) as a movement has been around for more than a decade. Unfortunately, a 2010 COSO survey disclosed that only limited progress has been made convincing senior management and boards that ERM is…
Building an Operational Risk System
By: Causal Capital | Martin Davies There are stacks of operational risk reporting systems on the market however, in general many of these risk solutions are overpriced and unsophisticated programs. So, why not build your own operational risk reporting system?…
Compliance Risk – Banking
By: Maria Coppinger-Peters Compliance risk is the current and prospective risk to earnings or capital arising from violations of, or nonconformance with, laws, rules, regulations, prescribed practices, internal policies, and procedures, or ethical standards. Compliance risk also arises in situations…
10 Ways Risk Management Can Recession-Proof Your Brokerage
By: Craig Rowe We aren’t technically in a recession (that we know of), but it’s not looking good! Troubled economic times make your clients and prospects price shop; that increased competition is the icing on the cake for brokers who…