Description: A discussion about the increasing risks associated with the National Flood Insurance Program in the U.S., including discussion of its history as well as key issues associated with its continuation in its present form.

Description: The author suggests ways to strengthen a company's enterprise risk management process, including the development of an "effective resilience factor," a risk metric that reflects an organization’s exposure and response to an adverse event, and measures the ability of the organization to mitigate the reduction in its operating level.

Description: The article focuses on findings from EY's survey in 2017 of CROs at 40 insurers in North America. Changing roles in the age of disruption are investigated.

Description: Although crisis management remain often seen through a “communication lens”, it has in reality more in common with risk management than usually thought. Both crisis and risk management are anticipatory endeavors, with most of the work being carried out in peace time; both require a deep understanding of the organization’s activities and ecosystem; both have the same overarching objective to enable the organization to survive a brutal change to its usual operating conditions. Developing integration between the two functions would thus go a long way toward a more resilient organization.

Description: The five words for ERM are transparency, discipline, alignment, adaptability and resilience. This article focuses on transparency, discipline and resilience.

Description: This article summarizes the highlights of the 2014 Emerging Risk Survey. This is the 8th survey and this short article focuses on trends and top risks selected.

Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: The paper discusses the arguments supporting the need for risk culture to transition into ERM culture to be embedded across financial organizations. Creating and maintaining strong ERM culture is paramount to a lasting and meaningful ERM program. It is essential for organizations to understand what ERM culture is, how it gets established and in what way affects the process of ERM implementation. Often, the implications of financial enterprises not focusing on the significance of ERM culture manifested in severely compromised ability to generate sustainable value and market competitive advantage. This paper calls for rethinking the role of ERM culture in the context of managing risks.