resilience, erm, sustenance What is RESILIENCE and how does it interlude with ERM and SUSTENANCE? There is no one size fits all answer to this question. Consequently, each entity needs to spend some quality time to define the terms. When engaging in this process, it is important to hold this conversation early to avoid confusion… Continue reading 3 Minutes ERM: RESILIENCE
climbing over ERM hurdles You got all the intent, ambition and ERM-skills lined up in your company: and still you are struggling to get much further than the first few hundred meters of the proverbial ERM-marathon? If that sounds familiar to your mental ears, then read on. In this post, I guide you over some… Continue reading 3 minutes: ERM hurdles
background I have blogged about the roll-out of the COSO ERM update back in 2017. In 2018, ISO updated their well-known risk management standard, too. Since then, I’ve spent considerable time studying and using both standards. Hence, I now feel comfortable and confident to share my opinion about those two well-known ERM frameworks. In other words, bienvenu… Continue reading THE COSO vs ISO SHOWDOWN
Dr. Dennis Bessant, Specialist Advisor to Megrow, wrote this article in June 2019. the golden age of the internet Robert K Merton, an American sociologist, popularised the “the law of unintended consequences” in the 20th century; it says that actions always have effects that are unanticipated or not intended. What has a visionary social scientist… Continue reading CyberRisk: To Insure or To Ensure ?
Episodes Released I’m very pleased to announce the release of Episode 1 and Episode 2 of the Megrow Podcast. The Podcast is hosted on Megrow’s YouTube channel. I aptly named it the “Asia Risk and Opportunity Podcast” or “AROC” for short. Episode one is a general, introductory episode explaining the why / what / how: Episode… Continue reading The Megrow Podcast is LIVE!!!
constant dripping wears away the stone I’m constantly praising the tangible business benefits of good ERM. A number of blogposts here and on other social media are testimony to this. Until a few month ago, I felt like the proverbial “lonely prophet”. A lot of ERM-related publications had a distinctive retro- / crisis-touch to it… Continue reading ERM – More on the Benefits
The COSO ERM framework update COSO released a significant update of its well-known ERM-framework in late 2017. An executive summary is accessible on their website. The ERM community, especially the “COSO-istas” most eagerly awaited the update. Additionally, the wider stakeholder community was excited to see how the new framework will benefit businesses. I’m a fan… Continue reading COSO ERM Framework – One Year After the Update
ERM done – so what I’ve shared some technical and practical considerations about ERM in a few previous blogposts. This episode addresses the most important topic: “ERM done – so what”. Whenever I talk about Enterprise Risk Management, I emphasize on its tangible benefits. ERM is about managing downside and creating opportunity. The picture below… Continue reading ERM – The Benefits
part two In an earlier blogpost I wrote about setting risk appetite for insurance companies under the evolving Hong Kong ERM framework. My focus is on firms that develop their own ERM-framework. In this blogpost, I “continue” the journey to building an ERM-framework and ponder about risk mapping. Whilst occasionally making reference to Hong Kong, … Continue reading ERM in Hong Kong – A Practical View
ERM for Insurers in Hong Kong – the Journey has Started This series of blogposts ponders about the ERM in Hong Kong as it unfolds for Hong Kong based insurers. I chose Hong Kong for a number of reasons. First, the Insurance Authority (“IA”) launched the ERM process over the course of 2017/2018, so the… Continue reading ERM in Hong Kong – A Practical View