New Era of Risk Management

The business environment evolves, organizations evolve and people’s roles and contributions must evolve as well. Some risk managers have expressed frustration due to insufficient resources or support from senior management. Risk managers who have an active role in financial reporting... Read More..
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Al Gore received his Nobel Peace Prize on Monday and urged the United States and China to make the boldest moves on climate change or “stand accountable before history for their failure to act.” The cause and effect of global... Read More..
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At the recent Institute of Internal Auditors (IIA) event “2007 Risk and Control Conference Featuring Governance, Risk, and Compliance” one of four tracks was dedicated to Enterprise Risk Management (ERM). The role of internal audit has gained in stature as... Read More..
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The approval by the PCAOB Board to the overhaul of the Sarbanes-Oxley legislation on May 23rd has profound significance for the credibility of Enterprise Risk Management as a discipline and its charter for action within organizations. For nearly a decade,... Read More..
Security of information is critical to all corporations and is one of the many areas of competency established with Enterprise Risk Management. The weakness of traditional risk management is the focus on historical precedence rather than forward looking investigative approach.... Read More..
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Amaranth Advisors lost roughly $5 billion in a week, and this is from a hedge fund that boasted of world-class risk-management systems. The result is a loss of 50% of the company’s asset base best summarized by this USAToday headline... Read More..
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The book “Blink” by Malcolm Gladwell is a must read for risk managers. Chapter one opens with the description of the approach used by the J. Paul Getty Museum to perform due diligence on a famous statue’s authenticity prior to... Read More..
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Whenever there is a disaster or event that causes losses, it is usually proven that someone or several employees in middle management or on the front lines had been forecasting the event years before but no action had been taken.... Read More..
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One of the key challenges within the risk, performance, compliance and business continuity areas of the corporation is the management of data in spreadsheets and other office files, often referred to as unstructured data. Spreadsheet control issues for accounting processes... Read More..
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In every emerging market the question of build versus buy arises. Enterprise Risk Management (ERM) is no different. Why a purpose-built application in this space? What is the role of enterprise content, workflow and process management technologies? What is the... Read More..
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Steven Minsky, a risk expert, highlights the differences between traditional Risk Management and true Enterprise Risk Management, which most importantly is about helping something happen - not preventing something from happening. Steven's blog helps you think about risk in a new way and how to benefit practically from this rapidly evolving new field.

Steven Minsky

Steven Minsky joins the ebizQ blog roll after a year as ebizQ's Executive Vision columnist. Currently the CEO and Founder of LogicManager, Inc. Minsky is a recognized practitioner in the risk, decision and process management industries. He founded RulesPower in May 2001 and as CEO raised venture capital funding and delivered the product through to production customers and industry analyst recognition as the most innovative product in its category. RulesPower was acquired by Fair Isaac in 2005. Prior to RulesPower, at Kodak's Eastman Software subsidiary, Minsky conceived and executed their enterprise workflow software solution for the banking, insurance, brokerage and health care industries that has become Global 360, a BPM industry leader. Minsky graduated with an M.B.A. from the Wharton School of Business and received a B.S. in Engineering from Tufts University. Reach Steven at steven.minsky@logicmanager.com.


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