Norman Marks

JUNE 22, 2023

Earlier this year, IIA Norway shared Good Practice Guidelines for the Enterprise Risk Management Function. They explain: The target group for these guidelines is organisations that would like to either establish an Enterprise Risk Management function or develop their existing risk management function further.

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Norman Marks

MARCH 14, 2023

There’s a political battle going on as well, with people blaming federal government administrations, regulators, and so on. I have seen some unfortunate postings on social media and in the news. Self-appointed experts telling us what happened, why, and whose fault it was. I’m not going to get into that. But I think it is […]

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Norman Marks

APRIL 17, 2023

That doesn’t mean you have to be an expert with years of experience as a risk practitioner. But you have to know enough about risk management to be able to assess whether it is effective. You can’t audit what you don’t understand. X What does “effective” mean? It means, in my opinion, that it meets […]

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Norman Marks

JULY 17, 2023

Professors Mark Beasley and Bruce Branson of the North Carolina State University’s Poole College of Management have shared with us for 14 years the results of their surveys of risk management practices.

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Norman Marks

JULY 14, 2022

My thanks go to Professors Mark Beasley and Bruce Branson of North Carolina State University’s Poole College of Management (the Enterprise Risk Management Initiative). They recently published 2022 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices – 13th Edition.

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Norman Marks

JUNE 29, 2023

The current internal auditing standards from the IIA (not the draft update) require internal auditors to assess the adequacy of management’s risk management processes. In this case, the reason is that if management […] That sounds fine, but why?

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Risk Management Guru

OCTOBER 24, 2022

The RBI Grade B Mains Exam’s Finance & Management portion includes a subsection on Risk Management in the Banking Sector. A bank may make more money by taking on greater risk since the relationship between risky assets is direct. What Does Risk Management Mean In The Banking Industry? Conclusion .

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Norman Marks

MARCH 6, 2023

The majority of speakers didn’t seem to understand enterprise risk management (the big […] While they have produced some excellent pieces of thought leadership (under the leadership of Carol Fox), I was struck at the time by the dominance of people with a background in insurance.

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Norman Marks

JULY 1, 2022

Nick Sanna, the CEO of RiskLens, a software company specializing in cyber risk management, recently issued a wake-up call for risk managers in a presentation at a Professional Risk Managers’ International Association (PRMIA) conference. He “encouraged risk managers […].

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Norman Marks

AUGUST 12, 2022

I have been talking (OK, preaching) about the need to manage the likelihood of achieving objectives (i.e., success) rather than limiting yourself and the organization by managing or mitigating risks. You need to take risks if you ever want to achieve objectives; the key is taking […].

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Norman Marks

JULY 5, 2022

I commend Marco Nutini for his recent LinkedIn post, Risk and decision: egg or chicken? He asks: In your opinion, which of the two alternatives best represents the Enterprise Risk Management process?

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Norman Marks

JULY 11, 2022

The IIA published a Practice Guide, Assessing the Risk Management Process, in 2019. It is recommended guidance and not mandatory. What is mandatory in the IIA Standards is performing an assessment, and this Practice Guide (PG) is intended as helpful advice on how to do it. While the Standards say that you must perform an […].

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Norman Marks

NOVEMBER 6, 2023

For many years, the ERM Initiative of North Carolina University, in partnership with the AICPA & CIMA, has surveyed organizations about their assessments of the maturity of “risk oversight[1]” at their organizations. The two authors, Professors Mark […]

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Norman Marks

NOVEMBER 7, 2022

I want to thank the 102 people who responded to my survey. The results are quite interesting. First, there is an inherent bias in the responses. These are all people who are reading my posts and are therefore more likely (I believe) than the general population to agree with what I have been advocating. Having […].

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WiserAdvisor

SEPTEMBER 8, 2022

Interest rate risk, inflation risk, recession risk, and others can surface from time to time and affect your investments as well as peace of mind. This is why portfolio risk management can be very critical. However, it is crucial to understand how to manage portfolio risk and what can trigger it.

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Brown Advisory

FEBRUARY 14, 2023

Sustainable Sovereigns: Integrating ESG Analysis into Government Debt Research ajackson Tue, 02/14/2023 - 10:39 Brown Advisory has championed Environmental, Social and Governance (ESG) research and sustainable investing for more than a decade. Historically, ESG analysis of sovereign debt was primarily focused on governance issues.

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Brown Advisory

FEBRUARY 14, 2023

Sustainable Sovereigns: Integrating ESG Analysis into Government Debt Research ajackson Tue, 02/14/2023 - 10:39 Brown Advisory has championed Environmental, Social and Governance (ESG) research and sustainable investing for more than a decade. Historically, ESG analysis of sovereign debt was primarily focused on governance issues.

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Brown Advisory

SEPTEMBER 6, 2022

Investing for Purpose: A Governance Perspective on Mission-Aligned Investment Strategy. And because liquidity is usually a sensitive issue for organizations, we believe that positioning the portfolio for success will require investment strategies that can effectively balance traditional risk management against mission-aligned criteria.

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Norman Marks

SEPTEMBER 13, 2022

The world in which we live is turbulent, with so much happening all the time. That applies to our business as well as our personal lives. Naturally, we try to simplify the complex. Hard to survive otherwise! Our brains are (at least for most of us) unable to fully grasp everything that is happening, so […].

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Norman Marks

AUGUST 15, 2022

Several internationally recognized authors have already addressed a recurring theme in the Risk literature: if a company does not […]. Earlier this year, Marco Nutini asked this challenging question in a newsletter he shared on LinkedIn. He starts with: Calm down, I don’t want to ruin my source of daily bread, let alone create a fuss.

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Brown Advisory

OCTOBER 22, 2021

Sustainable Sovereigns: Integrating ESG Analysis into Government Debt Research ajackson Fri, 10/22/2021 - 14:56 Brown Advisory has championed Environmental, Social and Governance (ESG) research and sustainable investing for more than a decade. Historically, ESG analysis of sovereign debt was primarily focused on governance issues.

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Brown Advisory

OCTOBER 22, 2021

Sustainable Sovereigns: Integrating ESG Analysis into Government Debt Research. Brown Advisory has championed Environmental, Social and Governance (ESG) research and sustainable investing for more than a decade. FROM CORPORATE CREDIT TO GOVERNMENT DEBT FUNDAMENTAL AND ESG RESEARCH. Fri, 10/22/2021 - 14:56.

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Norman Marks

SEPTEMBER 25, 2023

There have to be some that understand how the effective management of risk helps boards and management teams achieve enterprise objectives through informed and intelligent decisions. It enables people to take the right level of the right risks for success. There are thousands of PwC employees around the world.

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Norman Marks

JUNE 20, 2022

PwC has shared with us the results of their 2022 Global Risk Survey. It has some interesting stuff, although (as usual) doesn’t go far enough for me. Their food stuff includes: In this turbulent business environment, many executives find the need to revise and adapt their strategies and operating models at a rapid pace. They […].

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Risk Management Guru

SEPTEMBER 20, 2021

Whether you’ve just started in Risk Management or you’re already a professional in this arena, this article will interest you. We are highlighting some of the reference professionals we follow who are seasoned Risk Managers, each in its own area of expertise. Linked In. Website / Blog. Linked In. Steve Burns.

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The Big Picture

MARCH 20, 2023

What are the differences between insured depositors getting their cash back, a private sector rescue orchestrated by the Fed or the Swiss government, and a taxpayer-funded bailout? This is the government financially rescuing people despite—or perhaps because of— their own enormous recklessness and incompetence.”

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The Big Picture

MARCH 22, 2023

But the government-orchestrated deal has angered many investors. Financial Times Alphaville ) • Why Job Reshoring Is Merely a Trickle : U.S. manufacturing can’t compete on cost, but it has a leg up in some areas. ( A Wealth of Common Sense ) • What is a Bailout?

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Norman Marks

NOVEMBER 9, 2023

My congratulations to my good friend, Jim Deloach, and to James Lam for their contributions to Board Risk Oversight in the Age of Disruption, published by the (US) National Association of Corporate Directors (NACD). The article captures some of the content of an NACD webinar that was hosted by Protiviti with James Lam as a […]

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Risk Management Guru

SEPTEMBER 22, 2021

This event is considered to be the biggest virtual conference about Risk Management topics, delivering more than 50 interactive workshops with more than 30 speakers, including the best Risk Management professionals in the planet. Don’t miss this great opportunity. Don’t miss this great opportunity.

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Risk Management Guru

NOVEMBER 23, 2023

The regulatory landscape for risk management in financial services is constantly evolving, presenting a formidable challenge for firms and Banks striving to comply and manage their risk profiles effectively. The post Regulating Risk: Adapting to the Changing Landscape appeared first on Risk Management Guru.

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Integrity Financial Planning

JULY 3, 2023

The national debt ceiling is the amount of money that the United States Government is allowed to borrow to pay for its expenses. Military and government-funded jobs would also likely see a freeze in pay. [3] Even the average person’s interest rates on home loans, business loans, and credit cards are all tied to government bond rates.

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Norman Marks

MARCH 24, 2023

Originally posted on Norman Marks on Governance, Risk Management, and Audit : I am in the midst of writing a new book and decided I needed to define my core principles for effective internal auditing.

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Norman Marks

JULY 21, 2023

Anthony Pugliese (President and CEO of the IIA) said in a recent webinar that GRC stands for Governance, Risk Management, and Compliance-slash-Control. I am sure he said that because the IIA has the C meaning Control while the rest of the universe has C for Compliance. This is just one of the reasons that I […]

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Norman Marks

MARCH 28, 2024

I have written a lot over the years about risk appetite and the value of risk appetite statements, both here on this blog and also in my books, especially World-Class Risk Management (2015) and Risk Management in Plain English: A Guide for Executives, Enabling Success through Intelligent and Informed Risk-Taking (2018).

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Norman Marks

MARCH 11, 2024

Today, let’s talk about their second demand, which follows on from their first: Express an overall opinion on the effectiveness of risk management and controls by “connecting the dots”. Let’s […]

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Norman Marks

OCTOBER 23, 2023

I have some video events coming up, including: Risk Awareness Week 2023, where I am speaking on risk-taking. An Institute of Risk Management panel discussion on “How Risk Practitioners Can Earn Trust and Respect as Valued Partners”. The Risk Management Association’s annual conference.

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Norman Marks

MARCH 22, 2024

This may be an odd question to ask, but as a leader of internal audit and risk management it was an important issue for me. While there is so much talk about artificial intelligence, I believe it is far more important to optimize human intelligence! Where we sit affects: Our ability to know what is […]

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