Risk Management Insights

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08/11/2018 / Enterprise Risk Management, ERM, Risk in Motion, Protecht.ERM system

Enterprise Risk Management - Connecting the Dots

Connecting the dots (in this case, the risks).

It has been a bit of a journey over the last 15 years. At Protecht, we started with the vision of a SaaS enterprise risk management solution that allowed connection of risk to the core components of what was back then, considered an ERM framework. This meant that our central library of risks was not only used in the risk and control assessments but also linked to key risk indicators, attestations and incidents. This enabled our client base to get a more fluid picture of risk and was the genesis of the RiskInMotion™ concept.
 

What was missing back then was the business intelligence engine to bring it all together.

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12/09/2018 / Enterprise Risk Management, Risk Analytics, Compliance Management

Managing Risk with the Second Line of Defence Launchpad

The Second Line of Defence Launchpad within the Protecht.ERM system is an effective and interactive visualisation designed specifically for the Line 2 Risk and Compliance Management teams to use in their role of reviewing and challenging Line 1, together with independent reporting and escalation. Read on to find out more.

Why a Launchpad?

A Launchpad can be configured as the first screen a user sees when they log into Protecht.ERM. This ensures that users first see the most important and relevant information to carry out their responsibilities.

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28/06/2018 / Enterprise Risk Management, Risk Governance

Risk Governance and the Three Lines of Defence

Effective risk management requires governance structures and processes commensurate with the organisation’s context. Regardless of the organisation’s size and complexity, implementation of the three lines of defence should be the first principle of an effective risk management framework.

At each line of defence there needs to be risk governance to support and provide oversight to the risk management framework

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18/05/2018 / Enterprise Risk Management, Risk Analytics, Risk Intelligence

Improving your insights into Risk with Historical Models

Enterprise Risk Management (ERM) software manages the processes and the risk related data that drive risk behaviour, including Risks, Controls, Issues and Actions, Incidents, Key Risk Indicators (KRIs), Audit Findings, Compliance Obligations, Risk Control Self-Assessment (RCSA), Compliance Questions, and Compliance Attestations to name a few.

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03/05/2018 / Compliance Management, Enterprise Risk Management

Understanding Compliance Risk

Today, corporations and government agencies are facing an unprecedented wave of regulatory obligations and increased penalties for non-compliance. The financial services sector, as an example, needs to comply with a myriad of prudential regulations, federal privacy, AML/CTF, consumer credit and protection laws to name a few. Obligation registers now contain over 1,000 entries for compliance teams to deal with. In smaller organisations, these teams are often under-resourced due to compliance being a cost centre.

In this blog, we will discuss issues around some of the complexities of effective compliance risk management.

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27/03/2018 / Enterprise Risk Management, Risk Management, Risk Management Training

Enterprise Risk Management made Personal

PRM and ERM – use it in your Personal life

PRM? As we haven’t got enough acronyms in risk management already, I thought another one was required– right?  So, what is PRM? I just made it up – Personal Risk Management! 

They say charity starts at home – so why don’t we look at ERM, sorry PRM, in our personal lives? We can learn a lot from what we do well in our own lives and apply the same principles to our work lives and, bingo, we have good ERM working in our business!

One of the objectives of most people in their personal lives, I hope, is: To live a long and healthy life.

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02/03/2018 / Enterprise Risk Management, ERM, Risk Culture

How to promote Risk Culture in your team

In a recent discussion with a colleague on preparing for 'black swan' events, we concluded that regardless of the size, type and structure of an organisation, it was having the right risk culture that was the key success factor in preparing for and surviving an improbable event.

Our view is that getting the right culture to support risk management across the business is the most important ingredient for success. But what actually is this thing called 'risk culture' and where can you get it? We believe that risk culture is the system of values and behaviours that are present in an organisation and guides all the decisions related to risk, made by management and employees. 

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15/02/2018 / Enterprise Risk Management, Risk Management, Risk Analytics, Protecht.ERM system

Seven ways to improve your Risk Management Process using Protecht.ERM's latest features

This article is written with all the Risk and Compliance professionals like you in mind. Are you a junior, an analyst or a Chief Risk Officer? Your title really doesn't matter - we are sure you will relate to at least one of the challenges, questions, frustrations, and solutions we are sharing here - at least that is our goal!

My colleague, Stéphane Seguin, Head of Development at Protecht, and I are part of a team that develops technology responses to the problems and frustrations our clients face every day. We are constantly working to make their life easier by improving Protecht.ERM to make the risk management process smoother and simpler.

How do we do this?  By making the interface more user-friendly and improving the design every day.

This article explains the latest features we have added to Protecht.ERM and real scenarios that show how these changes can impact your job in a positive way. 

We have created seven features that respond to specific challenges you might be facing. Can you relate to some of the situations below? Have you ever experienced these issues? 

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06/10/2017 / Enterprise Risk Management, Risk Culture, GRC

Making Risk Sexy

This article was written by Vicki Wilder , Board Director, Governance Professional. Edith Cowan University. We are sharing it with the Protecht Risk Management Insights Blog readers. 

sexy
ˈsɛksi’
adjective

1. Sexually attractive or exciting. "Sexy French underwear". Synonyms: sexually attractive, seductive, desirable, alluring, inviting, sensual, sultry, slinky, provocative, tempting, tantalizing; more

2. Informal - very exciting or appealing.
"business magazines might not seem like the sexiest career choice"
synonyms: exciting, stimulating, interesting, appealing, intriguing. Source here.

Have I got your attention?

As our team barrelled down the road in an SUV on our way to a team builder last year, a sign blared “Sexy Salmon Fillets” near a fishmonger. The mind boggles. Sexy (definition No. 1) , I’m pretty sure they weren’t, but topic of conversation they remained for months, so hats off to the advertiser - they had our attention. Given the apparent multiple definitions perhaps they meant that the fillets were appealing?

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14/09/2017 / Enterprise Risk Management, Risk Culture, Protecht News & Events

Risk and Compliance Conference Season 2017

The Protecht team is looking forward to this year's conference season. Our focus will be on industry specific conferences where we will showcase how Protecht's full suite of risk management training, advisory and software services map to the needs of each industry sector.

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