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Our Most Popular Risk Management Articles in 2015

05/01/2016 - Security Risk Management Risk Culture

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Happy New Year! 2016 has arrived and at Protecht we wish to take the opportunity to go back in time and share our most popular blogposts from 2015.

We invite you to enjoy these articles for the first time or reading them again. Just click the article title for the full view.

1. Compliance Risk Management

  • Analysis of the relationship between Compliance Management and Risk Management. Do you think that compliance is a subset of risk management?
  • See the difference between the Management Processes in each standard: ISO 31000 and ISO 19600.
  • Compliance risk management should form an integral part of the overall enterprise risk management (ERM) framework, and risk professionals should consider compliance risk as part of their overall portfolio of risks.

2. Enterprise Risk Management - The Blurring of the Lines

  • The discipline of Enterprise Risk Management (ERM) is developing rapidly. The industry is awash with consultants, software providers and trainers together with an ever expanding language and acronyms. 
  • Where does ERM stop? When it stops, what then takes over? What is the difference between risk management and internal controls, audit, performance management and the like? 
  • We see the leveraging of risk management capabilities, especially from your ERM system, as an excellent way to maximise the return on your ERM investment.
  • As a Risk Manager, you may even be able to “sell” your capabilities to the business and truly turn risk management from its often perceived position of “overhead” to a recognised “value creator”.

3. The 7 key ingredients for successfully transforming and maturing your ERM

  • Your people, your ERM methodology, roles, responsibilities, ERM System. Are just some of the key ingredients in risk maturity.
  • We would suggest “transforming your risk management through maturity” means to “develop your risk management towards being fully grown by making a marked change for the better in both appearance and character”.
  • Understand that risk management is the responsibility of everyone, not just the appointed “risk managers”.
  • Many employees perceive that risk management involves just filling in forms and collecting and posting data, rather than adding value. 
  • Download the free the eBook. A Practical Guide to Risk Maturity.

4. Risk Velocity - The Third Dimension of Risk?

  • The primary purpose of risk management is to create and preserve value. Rather than it being a chore or a regulatory demand, risk management should be viewed as central to the organisation.
  • There is plenty of criticism levelled at heat map risk analysis in terms of what it does, and does not tell. This article addresses one of those ‘missing’ pieces and suggests how this analysis may be improved through the addition of the third risk dimension — the risk velocity.
  • Using story telling via the Bow-Tie Analysis to fully understand the causes, risk events, impacts, controls and velocity of risk.

5. 10 Great Features of Protecht Enterprise Risk Management Software

  • Enterprise Risk Management has become a must for all organisations, regardless of size, complexity and industry sector.
  • The main modules of Protecht.ERM: Risk and Controls Self-Assessment, Compliance, Key Risk Indicators, Actions Management, incident management, assurance / audit management.
  • Jodie Thomas, Executive Director of the Australian Taxation Office (ATO) shares her experience in implementing Protecht.ERM across the ATO. Bonus Article Here.

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Your opinion is important for us. If you have specific recommendations for topics to be covered during this year, please send us an email to marketing@protecht.com.au

 

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