De-Mystifying (and Explaining the Connection Between) Risk-Related Acronyms and Phrases

One acronym after another. An ice cream headache, for sure, trying to understand the similarities, differences and connectivity between all these terms. You need to do it, however. Simplify, simplify, simplify. Break it down and truly comprehend everything. Get ready for the proverbial elevator speech, if the need for one materializes. Toward that goal, here[…]

Governance, Risk and Compliance (GRC) – Pursuing the “Ideal” Frame of Reference

When it comes to any discussion involving the acronym GRC (Governance, Risk and Compliance), understanding the speaker’s frame of reference is paramount. From a vendor’s perspective, GRC refers to an automated suite of capabilities designed to address a broad range of challenges associated with critical disciplines managed by the client (e.g. compliance, risk management, audit,[…]

Five (5) Pillars of Impactful Enterprise Risk Management (ERM) Reporting

The beauty of enterprise risk management (ERM) is that every one of the discipline’s constituent parts is interrelated. Connected at the hip. Nothing in ERM appears “out of the blue”, therefore. Last month, for instance, we told you that a robust and meaningful ERM program might consider adopting a concise ERM mission statement, one that[…]

The Compelling Case for an ERM Mission Statement

Risk is best defined as the “effect of uncertainty on the achievement of objectives.” The successful management of risk, therefore, is integrally connected to the achievement of the company’s strategic objectives. Enterprise Risk Management (ERM) is an essential discipline that all companies need to install, embed, and inculcate into the organization, in order to: Set[…]

Annual Tune-Up Time For Your Risk Management Program

Like cars, whose investment and value we protect and preserve with regular annual maintenance at the least, your GRC and risk management processes and tools require careful regular service to preserve and extend their value and utility. Business environments are fluid.  Change is a reliable variable from one year to another. Your business may have[…]

A Tale of Two Cases: ERM Resolutions

In our last article, we discussed the value and contribution of the risk register, and how it played into the offering of a pre-populated, fully-integrated enterprise risk management (ERM) solution. We noted that three attributes of a GRC platform (Process, Product, and Content) are essential to delivering the critical services, tools, and capabilities that companies[…]

Building A Risk Management Program—The Risk Register

Subconsciously, we all manage risk throughout our daily lives. We pack an umbrella in case it rains, (unless we live in the Pacific Northwest where that’s considered unnecessary). We check our car tire pressure and fluid levels before a long road trip. We bring along water for a summer hike, and so on. You can[…]

Shopping For a GRC Platform

Almost every blog entry listed here makes some reference to a Governance, Risk, and Compliance (GRC) software tool and how it can help you manage cyber risk. But what if you don’t have one of these? What about spreadsheets? Or home grown database tools you made yourself and are certain are “good enough”? And suppose[…]

cyber security software

When The Cyber War Comes Home

The modern battlefield has a new extension—cyberspace! And the modern battlefield is no longer confined to simple geographies of land masses, airspace, oceans, valleys and mountains. Better (more destructive) bombs, missiles, rockets, guns, and fighter aircraft, weren’t enough for us feisty humans. Just as the global economy has blurred once sharply defined geographical and economic[…]

EBI

Harvesting Information From GRC Data—The Promise of Business Intelligence Tools

Thirty-five years ago, my first article was published in a professional journal. It was the outgrowth of a talk I gave at a business conference on the use of computer generated graphical information reporting. In 1987 those technologies were in their infancy. Computerized business graphics, pie, line, and bar charts, generated using desktop systems and[…]

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DoubleCheck ERM One™

An out-of-the-box tool that delivers an integrated ERM process together with a comprehensive, high-level categorization of exposures (Financial, Core Business, Operational and Strategic), fully loaded with over 60 associated, pre-populated risks to be used as a starting point.

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