There are many ways to describe risk and ISO 31000's Clause 5 risk assessment through to treatment steps is ideal. It can be applied to most risk disciplines without compromising the way in which uncertainty is measured, modelled and treated. Risks from Market risk, credit risk or operational risk can be fitted into the Clause 5 steps of ISO 31000 even though these risks are measured using not only different datasets but alternate techniques. All this said, the following stat
An interesting comment from one of our customers today in respects to risk management standards or frameworks specifically is worth pondering on. “Martin, when I look at these different risk management frameworks; COSO, AS/NZS 4360 and others, they all appear on the surface to be very similar, well they do look the same to me in the way they work. Is there a best of breed Enterprise Risk Management framework, which one should we adopt in our business?” Many risk management st
One of the biggest problems risk managers face in their work is selling a target risk treatment for correcting potential threats stakeholders may suffer from. Treating risk generally comes at a cost and stakeholders need to prioritise where best they expend their valuable resources so that they can maximise future potential outcomes. In a logical world and a world without politics, it would seem obvious that we should focus risk control and treatment efforts on threats that
There are growing trends in Supply Chain Management that are putting increasing pressure on many managers in firms today to enhance their Treasury Services with a Structured Trade Finance solution. However, effective success in such strategies appears to be predicated on solid risk management coupled with strong forecasting and reporting functions. Risks and Supply Chain Finance Whitepaper | LINK Many managers in businesses often don't have a multifaceted skill set required t
Risk management at an enterprise level sits in several states of completeness. There is the 'before state' where risks might be controlled by business unit staff but the management of them is not specifically formalised. To think about this differently, Risk Framework Architects and consultants generally Design, Build, Operate and then Transfer their work outputs and, they should be tracking 'completeness positions' across their projects. The tracking of risk management cover
To our valued customers and followers, we are continually making improvements to the Causal Capital knowledge centre and it is about time that we needed to overhaul our blogging space. The original Causal Capital Blog [LINK] is to be retired and replaced with a new and improved blogging interface that is cleaner to read, easier to access on mobile devices and we thought we might as well give ourselves a facelift while we had the hood up. Nothing else changes and why would it?