NC State University’s 2021 State of Risk Oversight Report, Everyone Wants A Chief Risk Officer, Ticker News TV – Business Outlook & Risks, Board Risk Governance – 8 Success Factors, and more
NC State University’s 2021 State of Risk Oversight Report
There are very few universities in the world that focus on Enterprise Risk Management (or for that matter Risk Management more broadly). The Poole College of Management’s ERM Initiative at NC State University in USA is a shining light in the sector, however. Earlier this month, they published their 12th annual 2021 State of Risk Oversight Report.
The report highlights both the significant improvement in risk management practices as well as ongoing challenges to embed risk management across many organizations. Many organisations “believe their risk management oversight is more robust or mature than any of the prior four years … however fewer than half of respondents describe their organization’s approach to risk management as “mature” or “robust”. In addition, the report concluded that “many organizations continue to struggle to integrate their risk management and strategic planning efforts.”
The report has some great insights into what organisations are successfully doing to manage risk. Download the full report here.
Everyone Wants a Chief Risk Officer
Every month or so I get a call from someone telling me their organisation is creating a Chief Risk Officer role (and do I know of any good candidates). It is always heartening to hear of more organisations recognising the need for a CRO.
Elevating the role and importance of risk managers in any organisation yields almost immediate business benefits. I recently came across this great blog article that succinctly summarises three of the benefits https://ceoworld.biz/2021/04/07/three-reasons-to-add-a-chief-risk-officer-to-your-c-suite/ .
Ticker News TV – Business Outlook & Risks
I was back on Ticker News TV last month to talk about the business outlook for the balance of 2021 – and business risks to keep an eye out for. I have recently been talking a lot about the link between Cashflow, Financial Leverage and Liquidity Risks. These three are the ‘grim reapers’ of financial risks when they come together.
Board Governance Webinar / Eight Key Success Factors
John Harte and Therese Kaminski at Integrity Governance invited me to be the inaugural speaker at their Board Leaders Network series last month. I talked about risk management in the boardroom and the eight key success factors to managing risks across an organisation. You read more about the eight key success factors in the blog post here.