The importance of current controls in Risk Management
Transcript: Today’s topic is talking about current controls. Now, these are like the red-headed step children of risk management. We tend to ignore the current controls that we have in place within an organisation to deal with risks that might occur. Over time within organisations, things have happened, events have happened. It might be fraud, […]
The Risk Management Paradox
If everything is going well, no one is lining up to pat the risk manager on the back, but when things go wrong, people are lining up to tell you. Rod explains how risk managers can make themselves relevant and ensure that what you are doing is adding value to the organisation. Transcript: Doctor Allan […]
The Inherent Risk Fallacy
“The concept of “inherent risk” is impossible to measure or even define. The idea of looking at risk absent of all hard controls, soft controls or mitigations provides little or no useful information in most cases.” Todd Perkins Lately I have seen a resurgence in the use of the term “inherent risk” and it has annoyed […]
Demystifying Risk Management
Transcript: A lot of organisations seem to think that they need to get experts in from outside or that they need people trained and University educated to understand risk management within their organisation. But this is not the case; the reality is that risk management is simple. I’m going to talk about how we can […]
Welcome to Risk Management Tips
Rod Farrar will be doing a series of videos designed to educate people within the risk management field about some of the things you might have challenges with. The series will include a number of two minute videos addressing some of the challenges that you might face on a day-to-day basis. It will also include […]
Is Risk Based Internal Auditing (RBIA) the “Right” Term or should it be Consequence Based Internal Auditing (CBIA)?
Okay – maybe I am about to open a can of worms here – but I think that RBIA may be a misnomer. Don’t get me wrong, I am a firm believer in the internal audit program being aligned to the risk management program – in fact neither will be as effective if they are […]
What makes a good Risk Manager?
What are the attributes of a good risk manager? Rod talks about how stakeholder management, engagement and relationship management can be the most important elements. Transcript: What are the attributes of a good risk manager? Now, one would think that the most important attribute that they would have is to understand risk management. Well, yes […]
Building Risk Management Culture
Transcript: Today’s topic is building a risk management culture in an organisation. But before I talk about how to build a risk management culture, I want to talk about what a risk culture is. Now it’s something that’s talked about quite often, but I don’t think people have a real understanding of what that risk […]
The Uncertainty Created by the Risk Management Definition
Okay –this might be controversial – but as a risk management professional – I truly dislike the risk management definition. There I said it!!!!!!! I believe the effect of uncertainty of objectives has actually created uncertainty within the risk management fraternity since its release in 2009. Let’s break it down: The effect of uncertainty on […]
