552 words, 2.0 minutes read.

ISO 31000 Risk Management 1 big thing: Gather risk related data and conduct research on identified risks and mitigation strategies.

The big picture: Warrant that your group utilizes various corporate systems to research, monitor, and report on the resolution of risk management and compliance related information and inquiries.

Why it matters: Partner with line of business (lob) management and business continuity coordinators (bcc) to create, maintain and test bc, dr, and cm plans, strategies.

Yes, but: Facilitate the risk governance processes to ensure risks are identified, assessed, and classified following a defined ERM program framework, and are communicated and mitigated consistent with defined risk tolerances.

Go deeper: Establish the enterprise risk management program framework for your organization to identify, assess, mitigate, monitor, test and report on risks faced by your organization, consistent with industry best practices.

State of play: Certify your company is responsible for implementing strategic financial and risk management analyses and econometric modeling reflecting internal statistics and external industry benchmark data.

Under the hood: Ensure your organization enhances ERM policies, practices, and tools to analyze and report risks, and to manage risks according to the enterprise risk management framework.

A MESSAGE FROM THE ART OF SERVICE

Through using your assessment book and toolkit you know now that this is the better way to learn, assess and implement.

Top thinkers are using The Art of Service Critical Capabilities Analysis, the report that’s helping leaders stay ahead of what’s next.

Here’s how: now that you own your assessment, stay one step ahead with the ISO 31000 Risk Management Critical Capabilities Analysis.

This Analysis will help you plan your roadmap. This Critical Capabilities report enables leaders to shortlist hundreds of appropriate results across the seven RDMAICS typical use cases.

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

The backdrop: Build a mature Enterprise Risk Management framework, including risk appetite, risk tolerance and limits, risk identification, assessment, and aggregation, and risk mitigation strategy.

Between the lines: Propel risk reviews Coordinate and perform 2nd line risk reviews as well as detailed risk and control assessments to better understand exposures; evidence effectiveness of control design, related monitoring and reporting processes; and to assess residual risks.

What to watch: Drive enterprise risk management responsibilities into the organizations regional and individual business units, ensuring management understands their risk owner roles as first lines of defense in operational control.

What we’re hearing: “Ensure your company monitors the organizations compliance with the non-financial risk management framework by identifying and contributing to strategies to mitigate risks, identifying emerging issues, contributing to the development of processes and controls to manage risks.”

How it works: Make certain that your organization Informs/influences key stakeholders on significant business or client risks even when others are responsible for course of outcome.

On the flip side: Make sure the cross disciplinary nature of the projects that the ERM team engages in makes for a rewarding and multifaceted work environment.

The bottom line: Ensure your always on learning agenda drives the continuous improvement through building and transferring digital skills, expertise, and ideas from your innovation ecosystem.

What’s next: Develop deep dive analysis and key risk indicators to monitor risk trends and work with your organizations to identify mitigation plans to better manage risk.

ICYMI: Make sure your group develops and revises Enterprise Risk Management (ERM) policies, practices, and tools to analyze and report enterprise risks, and to manage risks according to the ERM framework.

A MESSAGE FROM THE ART OF SERVICE

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

568 words, 2.1 minutes read.

ISO 31000 Risk Management 1 big thing: Be sure your personnel is infusing quality of service characteristics scalability, manageability, maintainability, etc.

The big picture: Assure your design develops new risk policies and strategies; contributes to ERM tools and methodologies to measure, monitor, and report risks; ensures proper application of risk management framework and controls.

Why it matters: Make headway so that your operation performs quality reviews to identify any changes required to enhance program effectiveness expand capabilities, and ensures local Business Unit risks are appropriately assessed, managed and escalated into the larger enterprise program.

State of play: Drive innovation with new and emerging technologies such as modern authentication standards, multi-factor authentication, quantum-safe certificates, public cloud security services, and other emerging technologies.

On the flip side: Make headway so that your operation analyzes enterprise capabilities and IT opportunities in enterprise business processes; provides resolutions for enterprise architecture improvements by utilizing new technological applications.

Between the lines: Make headway so that your staff is working closely with the enterprise risk management leader for organizational resiliency, oversee the technology business continuity planning and testing activities to enhance the overall technology resiliency and disaster recovery capability.

Be smart: Work with business lines and support teams to ensure effective risk monitoring programs are in place or developed for new and revised products.

Meanwhile: Apply strategic thinking and quantified risk analysis to ensure a well-managed ERM Program and support management in developing, implementation and continuous improvement of Enterprise Risk Management tools, practices, policies standards and documentation to analyze and report enterprise risks, and to manage risks.

Go deeper: Lead and promote the development of an enterprise risk management strategy to support effective identification, assessment, measurement, control, monitoring, and communication of corporate risks, especially those risks having the potential to exceed corporate tolerances and disrupt the achievement of strategic initiatives.

What they’re saying: “Participate in the design, development, delivery and maintenance of a best-in-class risk identification and assessment program to ensure risks associated with business activities are effectively identified, measured, monitored, and mitigated.”

Under the hood: Advise on new processes products, initiatives and strategies from a risk and control perspective; guide the business unit(s) through the various governance approvals related to new initiatives ensuring proper controls.

A MESSAGE FROM THE ART OF SERVICE

Through using your assessment book and toolkit you know now that this is the better way to learn, assess and implement.

Top thinkers are using The Art of Service Critical Capabilities Analysis, the report that’s helping leaders stay ahead of what’s next.

Here’s how: now that you own your assessment, stay one step ahead with the ISO 31000 Risk Management Critical Capabilities Analysis.

This Analysis will help you plan your roadmap. This Critical Capabilities report enables leaders to shortlist hundreds of appropriate results across the seven RDMAICS typical use cases.

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

What we’re hearing: “Collaborate with other security teams to integrate security metrics unto a single dashboard to provide leadership with insights in making risk based business decisions.”

The bottom line: Be certain that your workforce works closely with Technology teams, risk partners, and business lines to provide feedback and prioritization recommendations for infrastructure and application vulnerabilities.

What’s next: Invest in the development, implementation, and management of the overall process for enterprise risk strategy and policies, standards, and guidelines related to corporate risk.

ICYMI: Secure that your operation supports the management and enhancement of a community of risk champions and risk liaisons across corporate functions and business units.

A MESSAGE FROM THE ART OF SERVICE

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

573 words, 2.1 minutes read.

ISO 31000 Risk Management 1 big thing: Support the ERM framework, including risk appetite, operational risk, risk taxonomies, and reporting.

The big picture: Partner with other stakeholders (Enterprise Risk Management, Procurement, Information Security, Legal) to effectively coordinate the execution of third-party controls and identify technology integration opportunities and lead proof of concept engagements.

Why it matters: Assure your organization lowers risk group provides comprehensive enterprise risk management solutions to organizations operating in high risk, highly regulated environments valuing risk mitigation.

The backdrop: Make sure the client services partner has enterprise wide responsibility for ensuring quality delivery and maintenance support of all products and services to assigned (internal) clients.

What we’re hearing: “Drive execution of the M and A goals, developing an end-state vision and strategy, track progress on objectives, identify areas needing additional support, identifying potential risks, proactively manage and resolve any blocker to deliver goals.”

How it works: Oversee and recommend appropriate risk management and mitigation controls for property, casualty, and non-employee benefit insurance requirements, including the development and monitoring of associated procedures.

Under the hood: Manage a portfolio of projects being designed and implemented by a team of security engineers, ensuring that status is regularly and clearly reported and that projects are delivered on schedule.

A MESSAGE FROM THE ART OF SERVICE

Through using your assessment book and toolkit you know now that this is the better way to learn, assess and implement.

Top thinkers are using The Art of Service Critical Capabilities Analysis, the report that’s helping leaders stay ahead of what’s next.

Here’s how: now that you own your assessment, stay one step ahead with the ISO 31000 Risk Management Critical Capabilities Analysis.

This Analysis will help you plan your roadmap. This Critical Capabilities report enables leaders to shortlist hundreds of appropriate results across the seven RDMAICS typical use cases.

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

Be smart: Oversee that your operation has involvement with the technology lifecycle and identifying and managing technology risks including cybersecurity, information security and resiliency risks.

State of play: Make sure the enterprise risk analyst supports the chief risk office and risk control enterprise risk management group (erm function) by analyzing and reporting on organizational business risks and opportunities.

Between the lines: Safeguard that your team is administering employee relations, performance management, training/development and compliance programs with a balanced focus on enterprise sales, product engineering and core business functions.

What to watch: Certify your process is developing, maintaining, and continually improving key aspects of an ERM program, such as enterprise risk reporting (board level reporting), risk appetite, risk identification and measurement, enterprise issue management, risk assessment methodology, emerging risk, and risk committee structures.

What they’re saying: “Create reports on loss trends and work with department leadership to support action plans to optimize risk reduction resources and self insured accounts.”

The bottom line: Oversee the development and update of risk programs, principles, tools, approaches, action plans, and processes to proactively analyze, manage, mitigate, control, and report enterprise risks.

What’s next: Collaborate with business and IT leaders to determine a strategic view of your organizations risk tolerance and maintain a risk portfolio that demonstrates an aggregated view of risk for IT processes and systems as well as risks from third parties the firm conducts business with such as vendors and (internal) clients.

ICYMI: Make sure your operation is evolving or developing and implementing plans for the infrastructure of risk management systems, processes, and personnel designed to accommodate the growth objectives of the Adviser and associated regulatory compliance responsibilities.

A MESSAGE FROM THE ART OF SERVICE

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

542 words, 2.0 minutes read.

ISO 31000 Risk Management 1 big thing: Collaborate with compliance on ongoing risk monitoring effort of merchants, agents, retailers.

The big picture: Be sure your strategy assists organizational leadership with the evaluation of existing processes and uses growing industry involvement to appropriately address control gaps and assess, monitor and report on risks inherent to the industry and with broad consequences across the organization.

Why it matters: Work with event sponsors to evaluate risks associated with events and mitigate potential risks through modifying events or encouraging that higher risks events not take place.

What we’re hearing: “Assure your operation leads the oversight of Third Party Risk Management to ensure appropriate oversight of vendor and other third party due diligence, onboarding, monitoring and reporting.”

What they’re saying: “Warrant that your process maintains an understanding and record of Company, Franchisee, Service provider, and Partner responsibilities and determine efficient methods to leverage business and security, risk and compliance requirements.”

The backdrop: Warrant that your process is researching and evaluating proposed cloud and business solutions for adherence to documented organization standards, policies, and regulatory responsibilities.

Between the lines: Communicate risk status, trends, significant exposures and events, and other high level information for corporate leadership and management to track the enterprise risk position.

Be smart: Assure your team has significant responsibility for the enterprise-wide approach to addressing the full spectrum of the organizations significant risks by considering the combined array of risks as an interrelated portfolio.

Yes, but: Make sure the risk landscape is continuously changing due to market volatility, geopolitical crises, wide spread economic changes, regulatory reforms and cyber threats.

How it works: Make headway so that your personnel interviews business leaders to inform them of the ERM mission and solicit the input on business line risks, severity, and potential remediation measures.

State of play: Make headway so that your operation lowers risk group provides comprehensive enterprise risk management solutions to organizations operating in high risk, highly regulated environments valuing risk mitigation.

On the flip side: Assure your company evaluates issues and risks of various severity, complexity, and controls to ensure compliance with risk based policies, procedures, and controls, and related governance and reporting frameworks.

The bottom line: Make headway so that your staff is participating in one of a number of internal working groups where AOC has a presence (might include: Internal Communications; Data Responsibility; or Enterprise Risk Management).

What’s next: Be confident that your organization manages electronic information database for investigative activity; utilizes data from trend analysis for the identification of opportunities to strengthen internal processes and minimize risk areas.

ICYMI: Warrant that your personnel participates and represents your organization in industry meetings; interacts with subordinates, supervisors, other departments and Operating Units to facilitate safety compliance.

A MESSAGE FROM THE ART OF SERVICE

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

586 words, 2.2 minutes read.

ISO 31000 Risk Management 1 big thing: Develop effective working relationships to support cooperative responses to risk management matters and issues.

The big picture: Make certain that your staff helps with administering your organizations Governance, Risk and Compliance (GRC) platform, including user administration and support, risk module development, and reporting processes.

Why it matters: Invest in facilitating the identification of risks throughout the organization, developing, reporting and monitoring formats on risk management issues and developing methodologies for the assessment of risks throughout the organization.

What they’re saying: “Make headway so that your strategy develops and recommends creation and improvements to risk management policies, procedures and practices to reduce costs and or improve internal controls.”

Between the lines: Be certain that your process is communicating regularly with other departments and key participants to resolve intra departmental process gaps or breaks, fostering the building of strong, trusting relationships.

What we’re hearing: “Make sure the regulatory compliance team facilitates adherence to internal and external regulatory requirements and standards through control automation, control monitoring and embedding requirements into modern engineering practices.”

Go deeper: Ensure you also support your (internal) clients in understanding, identifying, and assessing risks associated with the strategic objectives and in designing risk response plans to manage those risks.

State of play: Assure your personnel is directing and managing the ERM risk assessment processes, requested risk reviews, and issue management, developing associated policies, programs, systems, and processes.

How it works: Monitor the risk management framework to ensure processes are in in place to identify, measure, monitor, mitigate and report on risks and associated mitigation strategies consistent with risk tolerance levels.

The backdrop: Safeguard that your strategy provides direction for gathering, reviewing, analyzing, and summarizing risk-related data, information, and processes to ensure adherence with the enterprise-wide risk appetite and overarching/state requirements.

Under the hood: Provide guidance and consultation to (internal) clients to help them develop their risk management framework, including risk identification documentation, master risk register, risk heat maps and profiles, information systems and/or analysis software.

A MESSAGE FROM THE ART OF SERVICE

Through using your assessment book and toolkit you know now that this is the better way to learn, assess and implement.

Top thinkers are using The Art of Service Critical Capabilities Analysis, the report that’s helping leaders stay ahead of what’s next.

Here’s how: now that you own your assessment, stay one step ahead with the ISO 31000 Risk Management Critical Capabilities Analysis.

This Analysis will help you plan your roadmap. This Critical Capabilities report enables leaders to shortlist hundreds of appropriate results across the seven RDMAICS typical use cases.

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/

Meanwhile: Ensure you are able to lead a team of consultants in the completion of one or more solution requirements, architecture, or implementation deliverable.

Be smart: Lead business risk managers and business partners in determining the root cause of issue(s) identified during testing, developing appropriate corrective action plans and documenting in erms.

Yes, but: Be sure your group is coordinating participation and collaboration with ET key contacts to inform, educate and invest in risk awareness and mitigation activities.

The bottom line: Manage the enterprise risk assessment process, including consolidation of  functional and regional risk assessments and enterprise risk register as well as increasing the ability for real-time risk automation.

What’s next: Make sure your company is supporting development of methodology and procedures for the periodic risk assessment of corporate and business unit risks across your organization.

ICYMI: Make certain that your company suited to manager who has client or broking, revenue earning and operational involvement in a dynamic and international business.

A MESSAGE FROM THE ART OF SERVICE

Get started: store.theartofservice.com/ISO-31000-Risk-Management-critical-capabilities/