The idea for this blog was conceived by Marshall Ma, who joined The ALS Group as a Risk Management Intern and now provides support on client accounts as Technical Analyst, based on the Chinese ideogram for “crisis”. It just happens that Marshall is fluent in Mandarin and is passionate about risk management. She is an Enterprise Risk Management Graduate and Lecturer at Columbia University. While at Columbia, Marshall spent a lot of time working on campus educating her peers and supporting industry outreach. She also participated in risk assessment and mitigation for the campus’ internal Career Design Lab.

Topics: Enterprise Risk Management (ERM), Human Capital Risk, Risk management, Risk Management Blog, Total Cost of Risk (TCoR), what is total cost of risk, what is erm, what is risk management, risk management internship

As companies think about their supply chain and the risks that are inherent with that area, a good place to start is with your contract terms with the supplier – what are the terms you want? What are the terms you have agreed to?

With the unsettling state of affairs of the world today, a manufacturer or distributor has to be properly vetted and the terms of supply carefully considered. What is an acceptable delay or non-delivery? 

Topics: Compliance, Enterprise Risk Management (ERM), Risk management, supply chain, Total Cost of Risk (TCoR), risk transfer

Notaries are essential. You may know one or may be one yourself, and chances are, you will need one in the course of your life. There has been some form of a Notary Public in Ancient Egypt, proving that this job has been universally agreed upon as a noble public service undertaking for thousands of years. 

Topics: Enterprise Risk Management (ERM), Risk Mitigation, Strategic Risk Management, notary public, Notary Risks

In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program.

ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Total Cost of Risk, Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition, what is erm, erm insurance

In our latest posts on Enterprise Risk management (ERM), we addressed the three phases of Risk Assessment: Risk Identification and Risk Analysis and Risk Evaluation. In this post, we turn our attention to Risk Treatment.

Topics: Enterprise Risk Management (ERM), ERM, Risk Register, Strategic Risk Management

In our two most recent posts in this series, we addressed the first two phases of Risk Assessment: Risk Identification and Risk Analysis. This post looks at the final phase, Risk Evaluation.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, ERM Framework

Errors and even outright fraud in certificates of insurance is a growing problem. We encounter a 70% noncompliance rate on initial documents.

The certificate of insurance compliance function protects a company by ensuring that its contractors have appropriate types and amounts of insurance coverage. The burden of this compliance process is often underestimated.

Topics: Enterprise Risk Management (ERM), Insurance, Strategic Risk Management, COI Compliance, what is total cost of risk, what is compliance, vendor insurance

Risk Analysis is the second of three phases that make up a Risk Assessment.

What are the other two phases?

Topics: Enterprise Risk Management (ERM), ERM, Risk Register

More than 80% of companies don’t manage risk effectively. Is yours one of them?

A 2014 survey by a non-profit business research firm found that fewer than 20 percent of executives say their companies effectively manage risk. Companies will often have a process in place to identify and monitor risks. But they fall short when it comes to actually implementing practices to manage those risks as part of the overall strategic plan.

Topics: Enterprise Risk Management (ERM), Risk Management Blog, Strategic Risk Management, Total Cost of Risk (TCoR)

Risk Identification is the first of three phases that make up a Risk Assessment.

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk Identification, Risk management, Risk Management Assessment, Risk Management Blog