Description: Hear from the editor’s on the March 2018 issue of Risk Management published by the JRMS.

Description: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.

Description: Companies are exposed to a variety of risks related to the development and implementation of their business strategy. There is an extensive amount of literature about enterprise risk management (ERM), yet it is still possible to find a new opportunity to analyze how different kinds of risk information can be objectively considered by senior management to enhance corporate governance and strengthen sound decision-making processes. Strategy formulation is the main part of the strategic planning process. A robust ERM framework must provide relevant risk information for decision-makers so as to reduce the possibility of selecting a mistaken strategy or overlooking an important one. Most common strategic planning tools do not even take risk into account, which worsens the situation. Subsequently, it is time to identify and measure strategic risks. They can leverage, hinder or prevent the fulfillment of the strategic objectives. Risk management may also support the development of institutional actions so as to increase the likelihood of reaching expected results. Furthermore, strategic risks should be monitored through key risk indicators to allow the identification of conditions that could lead to a risk event. This paper aims to introduce a new comprehensive model that integrates risk management into strategic planning. A number of risk tools, improvements to be made by risk managers and a practical application of the model are presented to make possible the establishment and deployment of an effective strategy by the organization.

Description: Hear from the editor’s on the December 2018 issue of Risk Management published by the JRMS.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: This article describes methodologies for detection and deterrence of Medicare fraud. It also describes the validation of PRIDIT for fraud detection in Medicare.

Description: Information on the JRMS e-Library.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: Other articles that will be of interest to readers.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.