Keeping steady hands on the corporate tiller, risk managers have very specific traits that can flourish in contrasting yet complementary ways
Keith Ricketts - vice president of Sword Active Risk.
Much like risks themselves, risk managers come in all shapes and sizes. However, in terms of character inflections and outlook, there is, in fact, a stereotypical risk-manager mentality – and our research shows that about 60% fall broadly into this category.
We call them “technicians”.
As you may expect, people who fall into this category demonstrate certain traits, along with what Liam Neeson might call a very particular set of skills. They tend to be:
3. Naturally cautious
4. Attentive to detail
5. Stick to facts/follow rules
6. Able to ignore emotionally charged arguments
7. Serious and responsible
8. Suspicious of others
9. Brief and to the point
Many risk teams also include two other types, which we call “evangelists” (about 30%) and “drivers” (about 10%).
“Evangelists” tend to be inspiring leaders, very optimistic, diplomatic and persuasive. They can be verbose and prone to exaggerate. Sometimes they may appear over familiar and lacking in gravitas.
“Drivers”, on the other hand, are very pragmatic, outcomes driven, focused and determined – preferring results to facts. They can be demanding and impatient, with no time for complaints of “too much detail”, and feel the end justifies the means.
The most successful risk teams have a mix of personality types, because you need a wide range of skills to be truly effective.
While “technicians” – the archetypal risk manager – are analytical, cautious, numerate, precise and principled, capable of gathering, recording and analysing large amounts of data, they are not necessarily so good at communication or in persuading other departments of the importance of providing risk data.
“Technicians” need “evangelists” to help them sell the benefits of risk management to other departments and to the board. The risk management team also needs some “drivers” to ensure that objectives are achieved, projects stay on track and are brought to a successful conclusion.
Having a mix of those different personality types could cause friction, however. One critical facet of running a successful and highly effective risk-management team, which could help an organisation through the current tricky business climate, involves learning how to deal with the other personality types – possibly with specific training.
As with many situations, the right blend of people and skills, all supported by good communication, is what makes a really great risk management team.
source : managers.org.uk
Rivo today announced it has been named in its second Gartner Magic Quadrant report of 2014, recognized as a global player in Operational Risk Management (ORM).
Rivo, the leader in enterprise software-as-a-service based safety, security, sustainability, supply chain and analytics solutions, today announced it has been named in its second Gartner Magic Quadrant report of 2014, recognised as a global player in Operational Risk Management* (ORM). On May 6th of this year, Rivo was positioned in Gartner’s Magic Quadrant for Environmental, Health & Safety Management Systems. For the ORM report, seventeen different vendors were included in Gartner’s research with each evaluated for completeness of vision and ability to execute with their operational risk management offering in the marketplace.
There are gaps and different viewpoints on internal audit versus risk management. It begins by recognizing that there should be a relationship between the two areas.
In theory, everyone in the company should be concerned with risk management, but not all support or plan risk management, unlike in internal auditing, says Jo Willaert, Corporate Risk Manager at Belgium's Agfa-Gevaert Group.
source : cfoinnovation.com
The most widespread challenge facing audit, risk management and compliance professionals is putting their work into a context that speaks to executives. According to the 2014 GRC Technology Pulse Survey, conducted by ACL, the company that is transforming audit and risk, 42 percent of the more than 1,700 finance, audit, risk, and compliance professionals surveyed cited this issue as the largest obstacle they face today.
Avepoint, the established leader in enterprise-class management, governance, and compliance software solutions for next-generation social collaboration platforms, announced today that it won the 2014 Disability-smart award in the category of Products and Services, B2B for its compliance solutions. AvePoint Compliance Guardian and Compliance Guardian Online – part of AvePoint Online Services, used by nearly 2 million cloud users today – offer complete Governance, Risk and Compliance (GRC) platforms that provide comprehensive analysis across information gateways to address and correct accessibility violations.
The awards were presented on Monday, December 15, 2014, to organizations that exhibit leading practice within the ten criteria of Business Disability Forum’s (BDF) Disability Standard. The Disability Standard represents best practices and provides guidance in specific areas to support businesses in their journey to becoming disability-smart by improving performance for disabled customers, employees, and stakeholders. The judging panel included leading experts in the area of disability, representatives from BDF’s Member and Partner organizations, and disabled opinion leaders.
Award winners demonstrated an outstanding commitment to employing, working with, and doing business with disabled people, and were judged based on the ten criteria of the Disability Standard. AvePoint was selected as a 2014 winner due to its ability to identify and address specific web and enterprise system accessibility issues in order to meet and exceed global standards. This includes accessibility risk, which can be measured with out-of-the-box or customized checks that map to a wide range of requirements and legislation, such as the Web Content Accessibility Guidelines (WCAG) as well as other international and industry-specific accessibility guidelines.
“It is an honor for AvePoint to be recognized through this award as a global leader in enabling people to work together no matter what they face on a daily basis,” said Dana Simberkoff, Chief Compliance and Risk Officer, AvePoint. “Our work with Business Disability Forum shows organizations that they can simplify the auditing and reporting process required to ensure business properties – from public-facing websites to intranet portals – accommodate disabled customers, constituents, and members of their workforce at all times.”
"The number of entrants in the awards scheme highlights the increasing importance businesses are placing upon meeting the needs of disabled people – and rightly so,” said Paul Day, Chief of Staff, Business Disability Forum. “Businesses in both the private and public sectors are starting to realize the benefits of measuring and improving their disability performance, which extend not only to the business itself but also to employees and customers.”
With robust compliance, governance, infrastructure management, and productivity solutions, as well as global 24/7 live support, AvePoint today helps more than 13,000 organizations enable enterprise collaboration with confidence. AvePoint is a corporate member of the International Association of Privacy Professionals as well as the Identity Ecosystem Steering Group, and the company’s Compliance and Risk Management practitioners participate in International Standards bodies including the W3C and United Nations Internet Governance Forum in addition to providing privacy guidance and expertise to a wide range of domestic and international government agencies and corporate organizations.
Read more @ virtualstrategy.com
As 2014 comes to an end, it is important that we look back and reflect, as well as prepare for what is yet to come in 2015. Our world is increasingly risky, regulated, mobile, social, global, cloudy, interconnected and data-driven. All of this, taken together, has significantly and fundamentally changed the way individuals live and work, and the way organizations conduct business.
The year 2014 has come and nearly gone, and it's clear that enterprise risk management will not go quietly into the night. Following a 2013 that saw Edward Snowden NSA leaks, a Carnival Cruise line generator fire, and Target's credit card heist (to name only a signature few), this year has proven to be no slouch: FINRA has disciplined thousands of companies with over $34 million in fines, Home Depot and Sony fell victim to IT security threats, and GM issued one of the largest recalls in automaker history.