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The Risk Management Monitor is the official blog of Risk Management magazine
The Risk Management Monitor is the official blog of Risk Management magazine and provides daily stories, commentary, interviews, podcasts and videos related to the world of risk management and insurance. The primary editors of the Risk Management Monitor are Jared Wade and Emily Holbrook with Morgan O'Rourke and Bill Coffin also contributing their own insights frequently.
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Risk management for private equity under scrutiny soon
Risk management for private equity under scrutiny soon
By Christian Diller and Thomas Meyer
Published: October 4 2009 09:48 | Last updated: October 4 2009 09:48
With few interruptions – and we see the current downturn as an interruption – private equity has experienced a boom period over the past decades. In parallel, the role of financial risk management has steadily increased. But the intersection of the two is still “terra incognita”, into which most investors in private equity have not yet ventured.
They may be in for a rude awakening: quite soon, regulators will be knocking at the doors of all institutional investors. We expect that a lack of understanding about the management of risks and determination of regulatory capital for private equity portfolios will become a significant and growing obstacle to attracting funding to this asset class.
Banks Regulators Should Encourage the Use of Social Media as a Risk Management Tool
Regulators and bankers generally agree that there is no more elusive, difficult to manage, and feared risk than reputation risk - particularly in today's hyper-sensitive banking environment. As such it is of critical importance for bankers to establish within a bank's overall risk management program, a defense against reputation risk. Read more...
Top experts on Identity Management and Compliance at the European Identity Conference
More than 100 speakers at the most important IAM and GRC conference. Read more...
Kuppinger Cole presents the European Identity Conference (EIC) 2009
Our Partner, Kuppinger Cole & Partner (KCP), and leading Europe-based analyst company for all topics around Identity Management and Digital Identities presents the European Identity Conference (EIC) 2009 in the Forum of the Deutsche Museum in Munich from May 05-09, 2009. Read more...
Project Risk Symposium 2009 takes place in London
SGS invites you to attend the Project Risk Symposium 2009, the first ever event dedicated solely project risk issues on 17 June 2009 at the Gibson Hall in London, UK. Read more...
The G20 summits: the outcomes for financial sector enterprise risk management
The communiqué published after yesterday's (2nd April 2009) G20 Summit in London built upon ERM-related decisions made at the November 2008 Washington G20 Summit. Read more...
GAO: Regulators' Oversight of Large Financial Institutions is Lacking
New Report Faults Agencies for Failing to Assess Risk Management Systems. Read more...
Actuarial profession calls for risk management
by Andrew Sheen, Global Pensions
GLOBAL - The actuarial profession must make efforts to strengthen transparency and accountability in light of the global economic crisis, the International Actuarial Association (IAA) has said. Read more...
The Knowledge Congress Has Scheduled a Live Webcast on Risk Management II - Practical Guidelines
The Knowledge Congress, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast on Risk Management II - Practical Guidelines. This two-hour event is scheduled on Tuesday, March 17, 2009, at 12:00 PM to 2:00 PM (ET - New York). Read more...
Viewpointe Test Demonstrates Improved Risk Management, Accuracy With Image Integrity Solution
Viewpointe(R), a leading provider of check image exchange and archive services, today announced key test results of its risk mitigation tool, Viewpointe Image Integrity(TM). Viewpointe Image Integrity is designed to help financial institutions manage the risks associated with check image and data mismatches that can occur during check processing. Read more...
The analyst group Kuppinger Cole has presented a new report dealing with Key Risk Indicators (KRI), that is data measuring the risk in businesses. KRIs help businesses recognise and address risks. Risk management is becoming more and more important at all company levels, especially in hard times. Read more...
Risk management key to survival
by Sara Hamdan
Companies need to streamline their internal risk management policies over the coming year as lending conditions are expected remain tight, according to treasury officials. Read more...
Risk management's failure in the credit crunch
“How did the last 20 years of progress in risk management fail so many institutions so spectacularly given the current financial turmoil?” Marsh & McLennan Companies asks in its latest issue of Viewpoints. Read more...
www.CanadianUnderwriter.ca
The Risk and Insurance Management Society (RIMS) released an executive report today titled "The 2008 Financial Crisis: A Wake-up Call for Enterprise Risk Management," petitioning a call to action for enterprise risk management. Read more...
Download report
Risk management practices of Middle Eastern companies need closer scrutiny: Survey
by Michael Bradford, BusinessInsurance.com
Large regional financial services companies in the Middle East are being prompted by the global financial crisis to take a closer look at their risk management practices, a new survey reveals. Read more...
Risk management overhaul tops bank agendas for 2009 - KPMG
This latest survey, conducted by the Economist Intelligence Unit on behalf of KPMG, reveals that banking executives named an aggressive profit based incentives and remuneration system (52%), followed closely by lack of risk governance (50%) and risk culture (48%) as leading contributors leading up to the credit crisis. Read more...
CFO's, treasurers and financial professionals worldwide voted Reval, a global leader in financial risk management and hedge accounting solutions and services, "Best Technology Provider of Hedge Accounting Solutions" for the third consecutive year in Treasury Management International's 2008 Awards for Innovation & Excellence in Treasury Management. Over 1600 industry professionals participated in the voting process. Read more...
Students finding market for skills in risk, insurance
by Jeff Casale, BusinessInsurance.com
The role of insurance and risk management is evolving at the college level, with universities offering more courses and putting greater emphasis on such fields' role in business — and students are taking note.
Significant problems in financial markets, weeks of job losses and mounting economic uncertainty have some colleges and universities using this time to highlight the need for better risk management and the opportunities the field provides. While a major in actuarial science, insurance and risk management may not have been broadly appealing to students three to five years ago, professors and curriculum directors say that is changing. Read more...
Risk Management Agenda: 9 Steps to Success in '09
January 5, 2009 - Linda McGlasson, Managing Editor Bank Info Security
Amidst the Turmoil, be Sure to Manage Your Institution's Risk - and Your Own Career
OK, welcome to the first full work week of the New Year. Holidays are over, 2008 is behind us, everyone is back at work this week. What's on the agenda? Following is a list of seven key priorities - your Risk Management Marching Orders for 2009. Read more...
Middle East corporations to witness substantial rise in risk management initiatives
SAS, the leading provider of business intelligence and analytic software and services, has forecasted that the Middle East is set to witness a substantial rise in risk management initiatives among regional corporations, as more organisations focus on aggregating and controlling risks to drive their business’ development. Read more...
The IRM (Institute of Risk Management) developed a Risk Management Standard and translated it in 14 languages. Find the newest version in your language for download here.
The Institute of Risk Management (IRM) is risk management's leading international professional education and training body. The Institute provides high quality education, training and professional development in risk management at a range of levels, from introductory to expert.
A new white paper published by Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, and Aite Group LLC has found that managing counterparty risk is a much more critical component of a hedge fund's overall business operations today than it has been in previous years. Read more...
Top 3 Trends Affecting Enterprise Risk Management
In this new global reality of companies rushing to exploit the opportunities of service-oriented architectures (SOAs), clouds and other distributed models of computing, determined outsiders and insiders may seek to exploit vulnerabilities. Consequently, the pervasiveness of these technologies marks a fundamental change in how organizations should approach the accompanying security challenges-especially the top three challenges identified by many organizations as being fundamentally important in the next year.
Identity
Every day billions of people are connecting to one another and therefore identity has taken on a new focus. Applications are no longer secured behind a firewall; more and more they are composites and mashups created from sources inside and outside the enterprise. Transactions depend on the level of trust each party places in the other's credentials and the systems supporting them. Yet considering the rising instances of identity theft and fraud, it is clear that without instituting policies, processes and best practices, that trust can be misplaced, unauthorized or uncertain. Read more…
ORX Deploys IBM and OpenPages to Help Transform Operational Risk Analysis
The Operational Riskdata eXchange Association (ORX), the world's leading operational risk loss data consortium for the financial services industry, today announced that it has selected IBM (NYSE: IBM) and OpenPages to help transform and web-enable its operational risk loss data capture and analytic capabilities.
The transformation to a web-enabled system will allow ORX to improve the service that it provides to its 51 member banks, providing ORX with an automated platform for loss event collection and distribution. ORX holds operational loss data from across the banking industry in order to improve its members’ collective capacity to understand and quantify operational risk. Read more...
Kuppinger Cole about integration of IT Risk Management
There is no need for IT Risk Management
01.12.2008 by Martin Kuppinger
OK, that sounds a little provocative. And it should. But in essence, it is true, at least as there is no need for a IT-only Risk Management. What we need is an integrated Risk Management, which covers “enterprise” risks and IT risks. Why?
Let’s start with the types of risks. Risks might be divided in three categorie
- Strategic risks, e.g. the risks of wrong (strategic) decisions, like entering a market with products no one wants to buy, changes in the market themselves and so on.
- Operational risks. That is what the vendors of ERM tools (Enterprise Risk Management) usually name “enterprise” risks, to distinguish from the (from their perspective) low-level IT risks. Operational risks are the risks in day-to-day operations, from trading with stocks and derivatives to guarantee risks when producing goods.
- IT risks. These are risks from the perspective of IT systems, e.g. from non-working IT systems to missing access controls and Segregation of Duties.
But if you analyze IT risks, you will always end up with operational risks. IT risks are a part of operational risks. On the other hand, virtually any operational risk is tied to an IT risk, because most operations in organizations heavily build on IT and IT can help in managing, measuring, and mitigating operational risks - like it is frequently done with approaches like attestation and SoD controls.
That leads to the question why we should buy IT Risk Management solutions - and, the other way round, why we should buy Enterprise Risk Management solutions that doesn’t cover IT risks... to read the answer please click here.
INSEAD and Aon create new chair in international risk and strategic management
INSEAD, the leading international business school and Aon Corporation, the world's leading provider of global risk management and consulting services, today announced the creation of the Aon Dirk Verbeek Chair in International Risk and Strategic Management.
The chair is endowed in honour of Dick Verbeek, who led Aon’s operations in Europe for almost 20 years and completed his MBA at INSEAD in 1976. Research will focus on the importance of risk in strategic decision making. The first incumbent will be Professor Javier Gimeno, Professor of Strategy at INSEAD. Professor Gimeno’s research interests centre on competitive strategy and entrepreneurship. He has published in leading journals on both subjects, and is a former Chairman of the Business Policy and Strategy Division of the Academy of Management.
Announcing the endowment, Greg Case, president and chief executive officer of Aon, said: “Risk affects all areas of strategy, and the interaction between the two is an area that we believe merits further research. We are delighted to be building on our relationship with INSEAD, and I can think of no finer way to honour the career and achievements of Dick Verbeek, a leader in our firm and in our industry for many years. We look forward to bringing the results of the research program to benefit our clients around the world.”
J. Frank Brown, Dean of INSEAD, commented: “Aon’s commitment in creating this chair will enable us to extend our research in areas that are critical to the future success of global organisations. Professor Gimeno will be engaging the expertise of our faculty in Europe, Singapore and the Middle East to deliver world-class research which we believe will have direct practical implications for firms around the world.’
Dick Verbeek said he was honoured by the endowment, saying “The current turmoil in financial markets demonstrates the pressing need to incorporate leading edge risk thinking into strategic decision-making. As a former student I am delighted and honoured that Aon has chosen to fund research at INSEAD in this vital area.”
Professor Gimeno explained: ‘There is today a unique opportunity to integrate the insights of strategic management and risk management. Strategy involves making decisions under uncertainty and competitive pressures, and risk management techniques can help us to develop more robust and flexible strategies, and to avoid failures.’
For more information:
www.insead.edu
www.aon.com
Risk Management Failures: What are They and When Do They Happen?
A paper written by René M. Stulz from the Ohio State University - Department of Finance; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)
Abstract:
A large loss is not evidence of a risk management failure because a large loss can happen even if risk management is flawless. I provide a typology of risk management failures and show how various types of risk management failures occur. Because of the limitations of past data in assessing the probability and the implications of a financial crisis, I conclude that financial institutions should use scenarios for credible financial crisis threats even if they perceive the probability of such events to be extremely small.
Click here to get on the Social Science Research Network website and download the paper.
OpenPages Survey Reveals Organizations Plan to Invest More in Risk Management in 2009
Fortune 1000 Respondents Expect Increased GRC Spending, Convergence Challenges in Year Ahead
OpenPages, the leading provider of enterprise GRC management solutions that optimizebusiness performance, today announced survey results that highlight currentrealities and future concerns regarding risk management and other GRCactivities for 2009. The survey, which polled over 150 strategic risk,governance and finance professionals from such Fortune 1000 companies asAIG, Carnival Corporation, TD Ameritrade and Duke Energy, was conducted atOPUS 2008 -- the 5th Annual OpenPages User Symposium in Boston, Ma. Thesurvey results revealed that organizations expect investment in riskmanagement initiatives will increase in 2009 and that a software platformto help integrate and manage all of their efforts will be crucial to theirsuccess.
Survey Results
- While industry experts predict that overall IT spending may be flat ordown next year, over 90% reportedthat investments in GRC technology will increase or at least remain thesame in 2009.
- 90% of those polled expect new laws and regulations to be introducednext year in an effort "to improve corporate risk management oversight."
- Over 50% said thatthe current crisis has increased the priority of enterprise-wide riskmanagement, and nearly 60% said that the crisis has put the risk managementfunction in the spotlight for the CEO and board.
- Companies divulgedthat their biggest GRC challenge next year will be to "converge GRCinitiatives across the enterprise," and 70% characterized their currentstate of GRC management efforts as siloed.
- Companies also revealedthat most are poised for improvement: less than 10% characterized their ERMefforts as excellent, as described by S&P's ERM ratings categorization.
Conclusions:
"The results of this year's survey highlight the impact of the currentfinancial crisis on enterprise risk management efforts: companies arefocused on converging disparate risk management efforts to improve theirvisibility into the risk inherent within the business. Further, despite theeconomic slowdown, companies are willing to invest in technology to improverisk management capabilities," commented Gordon Burnes, VP sales andmarketing, OpenPages.
"Furthermore, as companies continue to be asked to do more with less,our customers have made it clear that convergence of GRC activities is oneway to save money, without compromising performance," said Burnes.
Supporting Quote from Michael J. Duffy, CEO & president, OpenPages
"This is a defining moment for our economic system that underscores thecritical importance of enterprise risk management not just within thefinancial services sector but across all industries. Not only will GRCspending emerge as one of the few areas of investment in 2009, but weexpect that more companies will take a more programmatic approach to riskmanagement in 2009. We look forward to helping our customers meet thischallenge and through it solidify their standing with their customers,employees, investors and shareholders."
Lesson from the Crisis: Risk Management Has Limits
David Champion, October 28
The financial crisis is cruelly exposing the limitations of banks' risk management. For all their fancy modeling, some of the top names are going cap in hand to the taxpayer for good old-fashioned equity capital. So what went wrong? A good analysis of the risks of risk management can be found in a forthcoming Harvard Business Review article by René Stulz, a professor at Ohio State University. He describes five ways in which financial risk management systems can break down, all exemplified in the current crisis and other recent ones:
Mismeasuring known risks. This usually involves underestimating the correlations between different risks, misjudging the shape of probability distributions, or relying too much on past data. With the subprime crisis, you could not really measure the likelihood of a major fall in prices because there was no historical data of a downturn in the real estate market when a large amount of securitized subprime mortgages was outstanding.
Ignoring knowable risks. Often a company will recognize and hedge against one risk but in the process expose itself to another risk that it fails to account for. Many banks had hedged their ruble exposures in 1998 when the Russian economy went into a tailspin. Trouble was, the hedge counterparties were Russian banks.
Failing to communicate risks. Risk managers have to ensure that strategic decision makers understand the company's exposures. Not all do this well. As UBS admitted to its shareholders: "Attempts were made to present Subprime or housing related exposures. The reports did not, however, communicate an effective message for a number of reasons, in particular because the reports were overly complex... read further on the "Harvard Business Publishing" website by following this link.
A regular dispatch from the front lines of management by the editorial team at the "Harvard Business Review".
Contributors include: Sarah Cliffe, Diane Coutu, Bronwyn Fryer, Paul Hemp, Julia Kirby, Lew McCreary, Steve Prokesch
eFinancialCareers Career Guide 2008-09 now available
Careers in Financial Markets
Your guide to finding a job in banking and finance
Download the English Guide by clicking on the picture:
By Robert J. Schneider, Managing Principal, Risk Management, ISO Oct. 27, 2008
Risk in the evolving supply chain process
Over the last decade, the globalization of busiess and the manufacturing industry in particular, has made it imperative for executives and risk managers to reassess how they manage the growing number of risks facing their organizations, especially those affecting supply chains. Effective supply chain risk management in the manufacturing organization… read further on the "Industry Week" website by following this link.
Written by Marsh Insurance
Monday, 13. Oktober 2008
How UK firms can improve liquidity, free up cash and continue operating profitably.
A new paper by Marsh Insurance Brokers, shows how insurance and risk management strategies can help UK firms improve liquidity, free up cash, strengthen their financial resilience and continue operating profitably during deteriorating economic conditions.
In its newly published executive briefing, Improving Working Capital and Business Resilience, Marsh explains how organisations can release working capital by reducing their insurance and risk costs, while managing changing risk factors such as supplier liquidity, customer default and increasing production and transportation overheads.
Martin South, Chief Executive Officer of Marsh Ltd, said: “Most businesses are only too aware that high prices for fuel, food and commodities are creating significant upward pricing pressures, while at the same time the global credit crunch is producing downward pressure on demand.”
“Businesses should welcome the news that there are some simple actions that can be taken around insurance and risk management. These can free up cash for use in the business. Insurance can also be used as an additional security to facilitate either greater borrowing or cheaper cost of borrowing, or as a solution to offset liability on the balance sheet.”
Marsh’s recommended actions include:
Manage insurance costs to create additional working capital: The cost of insurance should not be viewed as a written-off commodity spend but managed to create additional working capital. Marsh recommends firms review how much risk they retain and how much insurance they buy, taking account of the likely loss profile of the business and the appetite for retaining risk... read further on the “Director of Finance” website by following this link.
eFinancialCareers Risk Management News
Go to eFinancialCareers website to read more about the latest Risk Management News
Risk managers hoofing it across to hedge funds
Treasury & Risk: 100 Most Influential People in Finance
In a year of upheavals and sudden surprises, Treasury & Risk’s list of the 100 most influential movers and shakers in finance is a true reflection of the times. Adversity brings out the best in the best. In some cases, the CFOs, treasurers and risk managers on this year’s list face the greatest challenges of their careers. We chose Fed chief Ben Bernanke for the cover because views on the U.S. economy, which were so negative earlier this year, have lately taken a turn for the better. If that holds—and the worst of the subprime and credit market crisis is behind us—we could be at the start of a new era at the Fed and for the economy. Other important themes include XBRL and international accounting convergence, which are expected to keep rising in importance for U.S. corporations in the year ahead, bringing massive changes to the old ways of doing business. Read more...
About Treasury & Risk:
Treasury & Risk providse need-to-know updates on the trends, best practices and tools that are defining the future of finance and treasury. By profiling the leading treasuries and finance departments across the nation, they create a window for senior finance executives into the strategies their peers are employing to meet the challenges that companies of all sizes are facing today.
Strategic Insights and Tactical Solutions
Treasury & Risk meets its readers' needs through an editorial blend of strategic insights and tactical solutions on the topics that matter most to today's financial executives. More than just a magazine, T&R is a multi-platform professional community-a nexus where finance leaders can exchange ideas, share problems and develop solutions together.
GERMAN News: Risk Manager gehoeren zu den Gewinnern der Finanzkrise
Risk Manager gehören zu den Gewinnern der Finanzkrise
In jeder Krise steckt eine Chance und jede Krise hat auch ihre Gewinner. Für Risk Management und die Finanzkrise gilt dies in besonderer Weise: Einerseits haben Schwachstellen im Risk Management die Finanzkrise (mit) ausgelöst; gleichzeitig gehören Risk Manager zu den Gewinnern der Krise und sind stärker gesucht denn je. Was auf den ersten Blick wie ein eklatanter Widerspruch wirkt, ist auf den zweiten Blick durchaus nachvollziehbar und sinnvoll. Aber der Reihe nach.
Beginnen wir mit den Defiziten im bisherigen Risk Management. Große Krisen sind in der Regel multikausal, da ist die Finanzkrise keine Ausnahme. Eine Reihe von Schwachstellen sind aus heutiger Sicht eindeutig: Die bisher eingesetzten Risk Management Systeme waren in vielen Fällen unzureichend, um die Komplexität der Produkte abzubilden. Dazu kam die streckenweise fehlende Erfahrung beziehungsweise die fehlende Autorität von Mitarbeitern und Führungskräften in den Risk Abteilungen und Schwächen in der Governance. Zusammen mit dem Kurzsichtigkeit der Bonussysteme und dem psychologisch motivierten Herdentrieb war das ein fataler Cocktail....Lesen Sie weiter auf RiskNET
GERMAN: Neuer Masterstudiengang > Risikomanagement und Compliancemanagement, FH Deggendorf
Die Fachhochschule Deggendorf bietet zum Sommersemester 2008 (ab Juni 2008), zusammen mit dem Kooperationspartner TÜV SÜD sowie dem Portal RiskNET, einen weiterbildenden Masterstudiengang Risikomanagement und Compliancemanagement (M. A.) an.
Ziel des Studiengangs "Risikomanagement und Compliancemanagement":
Der Weiterbildungs-Masterstudiengang Risikomanagement und Compliancemanagement soll Hochschulabsolventinnen und -absolventen, die ihr Leistungspotential schon unter Beweis stellen konnten, vermitteln, wie Risikomanagement- und Compliancemanagementkompetenzen erlangt werden können.
Dieser Studiengang konzentriert sich auf die Gebiete des Risiko- und Compliancemanagements, mit denen nahezu jedes Unternehmen inklusive Mitarbeiterinnen und Mitarbeiter in den unterschiedlichen Abteilungen und Branchen konfrontiert werden.
Die Teilnehmerinnen und Teilnehmer lernen dabei auch, ihren Verantwortungsbereich zukünftig risiko- und chancen- sowie ergebnisorientiert zu steuern.
Im Rahmen Compliancemanagement erfolgt eine Sensibilisierung für die vielzähligen Vorgaben, Regelungen und Normen, die Mirbeiterinnen und Mitarbeiter sowie Unternehmen zu kennen, zu beachten und deren Befolgung sie zu dokumentieren haben.
Durch einen ganzheitlichen Ansatz wird gewährleistet, Probleme nicht nur aus einer fachspezifischen Sicht anzugehen, sondern den Gesamtnutzen für das Unternehmen zu optimieren und gleichzeitig bestandsbedrohende Gefahren abzuwehren.
Dieses Studium soll die Absolventinnen und Absolventen für eine Position als Führungskraft qualifizieren.
Für das Unternehmen stellt der Absolvent aufgrund der erworbenen Kompetenzen einen potenziellen Risikomanagement- oder Compliancemanagement-beauftragten dar, der sich um Pflege bzw. Implementierung der Systeme kümmern kann.
Weitere Informationen finden Sie hier.
BearingPoint: Implementation of a Risk Management System for Credit Risk
BearingPoint has assisted an international bank in meeting the requirements of the Basel II regulatory framework and integrating appropriate risk management tools on subgroup and groupwide level.
The client
The client is one of the largest German banks with several thousands employees engaged in several hundred of branches Case Study | Risk Management
Implementation of a Risk Management System for Credit Risk around the world. Multi millions of clients are registered in the core businesses of retail and corporate banking, wealth management, investment banking and real estate.
In order to meet Basel II capital requirements, financial institutions are required to develop a solid credit risk and overall risk management system.
Meaning there is a demand for precise risk quantifi cation cycles, that are severely controllable and reproducible.
Download the case study here
BearingPoint's German Risk Management Site can be accessed here
RiskNET eLibrary (German news)
RiskNET eLibrary - Tomorrow's Risk Management Knowledge Today
In der e-Library können Sie Fachbeiträge, Abstracts und Whitepaper im pdf-Format einstellen. Zuvor müssen Sie sich kurz registrieren, damit Sie Zugang zu Ihrem persönlichen e-Library-Bereich erhalten.
RiskNET's eLibrary ist ein kostenloser Knowlegde Pool zu allen Themen des Risk Managements.
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IRMI - International Risk Management Institute
Company Profile
International Risk Management Institute, Inc. (IRMI), was founded in 1978 to provide important risk and insurance information to business, legal, risk management, and insurance professionals. In the years since it was founded, IRMI has published the most comprehensive library (45,000+ pages) of practical manuals, books, and newsletters available. IRMI also sponsors seminars and conferences, and the annual IRMI Construction Risk Conference is the premier national symposium devoted exclusively to the management of construction risks. To maintain objectivity and avoid conflicts of interest in its research, IRMI does not offer insurance sales, consulting, expert witness, underwriting, or similar services. It is based in Dallas, Tx (USA).
Have a look at their Seminars and Conferences in the US.
IRMI Update Newsletter Details
IRMI Update is for everyone interested in insurance and risk management issues. IRMI Update will bring you practical risk tips, commentary on industry issues, summaries of additions to IRMI.com, and updates on our plans for the next Construction Risk Conference. IRMI Update is free and is published twice each month. With over 31,000 readers, this is our most popular newsletter.
Here you can suscribe their free bi-monthly newsletter "IRMI Update".
Global Risk Management Survey 2007 (Aon)
Aon’s Global Risk Management Survey 2007 provides insight into organizations’ key risk concerns around the world. Successful organizations seek to proactively identify and understand the risks faced and turn them into opportunity. Dealing constructively with risk, even after an event has occurred, can make all the difference. Yet many survey respondents indicated they are not prepared to effectively manage certain of these risks. How do you compare?
Get the complete survey from AON
About Aon
Headquartered in Chicago, Aon Corporation is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting, with an employee base of 43,000 people working in 500 offices in more than 120 countries.
RiskCenter.com - web-based syndicated news service
RiskCenter is the first Web-based syndicated news service devoted exclusively to providing financial risk professionals with the inside scoop on breaking economic, political and financial stories, as well as the risk strategies required to measure and manage these risks. Acting as the eyes and ears for risk professionals, RiskCenter provides an information filter so that viewers do not have to search through a myriad of sources to find the key news that has been researched and written from the point of view of a risk manager.
RiskCenter sources its information from both official sources-federal banks, treasury units, and international agencies, for example-and internal sources. Whether its breaking a new story on a bankrupt corporate or a new issue specific to risk management, RiskCenter differentiates itself from other news sources by researching and writing stories from the risk management viewpoint. In other words, each story states the event and issue, indicating why this is important to RiskCenter viewers, and offers alternative views on how to measure and manage those risks.
The targeted audience is financial professionals whose responsibility is to measure or manage the risks inherent in their firm's business. These duties could fall within one or more job functions, including:
* Risk control and audit
* Credit, market or operational risk management
* Balance-sheet management
* Portfolio management
* Quantitative analyst
* Legal
* Enterprise-wide risk management
* Asset/Liability management
* Treasury
* Model risk control
* Chief Financial Officer
* And others
The reason for the wide range of duties is that risk management is evolving from the traditional control or policing function, to a more offensive goal of using risk-adjusted information in determining asset allocation strategies. The risks faced by most corporations relates to the impact the markets might have on a financial instrument, the corporation itself and its counterparties. In general, the targeted firms include financial institutions, corporations, asset management firms, hedge funds, pension and endowment funds, consultants, insurance companies, rating agencies, regulatory agencies, educational institutions, professional associations and risk management vendors.
Here you can watch their videos.
GERMAN Risk Management Books from Bank Verlag Medien, Cologne
For all German speaking Risk Managers, the publisher "Bank Verlag Medien" offers a wide range of related books, such as "Risiko Management Lexikon" from Frank Romeike (RiskNET.de).
Lexikon Risiko-Management
Tagtäglich werden wir mit verschiedensten Fachausdrücken rund um den Themenkomplex Risk Management konfrontiert. Das Risk-Management-Lexikon vermittelt dem Leser anschaulich alle wesentlichen Begriffe von A (wie Abschreibungsrisiko) bis Z (wie Zufallsrisiko). Hierbei stehen nicht nur die reinen Begriffserklärungen im Vordergrund, sondern auch die Einordnung in den Gesamtzusammenhang.
Übersichtliche Grafiken, leicht lesbare Textblöcke und optische Hervorhebungen erleichtern das Nachschlagen, Verstehen und Anwenden. Darüber hinaus werden die aktuellen Diskussionen in der Finanzwelt aufgegriffen und in Schwerpunktbeiträgen fortgeführt.
Ein transparentes Verweissystem macht dieses Lexikon zu einer wertvollen Arbeitshilfe für jedermann.
Sigma is published approximately eight times a year by Swiss Re’s Economic Research & Consulting teams. The sigma publication series provides comprehensive information on the international insurance markets and in-depth analyses of economic trends and strategic issues in insurance, reinsurance and financial services, covering life and non-life business. The sigma chartroom on the Swiss Re Portal offers a broad selection of indicators for the global insurance industry, including data download options.
Download the latest editions
There are some quite interesting blogs out there, have a look:
- David Rowe’s Risk Management Blog
- Operational Risk Management
- Forrester Security & Risk Management Blog
- Steven Minsky's Enterprise Risk Management Blog
- Risk Management World Blog
You want to be listed? Let us know and email us: info@riskmanagertalentpool.com
Discounts - Risk Management Books from Incisive Media
Risk Books is a world leader in specialist books on the financial risk management and derivatives markets. Their mission is to produce books that truly add value by delivering the very best information on specialist subjects. And with over 110 different titles currently in print, Risk Books covers a wide range of technical subjects, from trading and valuing derivatives, to coverage of the energy markets and regulatory issues, with books for experts and students alike.
Here a short-list:
"An Introduction to Hedge Funds" by Mark Berman: This new introductory text, clearly explains what a hedge fund is, how it interacts with service providers, how it operates and – particularly appropriate to today’s markets – what happens when things go wrong. Buy one get one half price!
"Risk Management for Insurers" by René Doff. A timely risk management guide to help the insurance industry to get prepared for Solvency II.
Exzellente Karrieremoeglichkeiten im Risikomanagement
Risikomanager stehen zur Zeit hoch im Kurs. Mehr als die Hälfte aller vom Personaldienstleister Robet Half International befragten Finanz- und Personalmanager (56 Prozent) hat Schwierigkeiten, qualifizierte Mitarbeiter zu finden. Zu einem ähnlichen Ergebnis kommt auch die internationale Personalberatung Boyden, die einen wachsenden Bedarf an Risikomanagern sieht. Neben spezifischen Fachkenntnissen braucht ein guter Risikomanager vor allem Softskills wie analytisches Denken und die Fähigkeit, komplexe Sachverhalte zu verstehen. Das anspruchsvollere Anforderungsprofil für Risikomanager hat sich auch auf die Gehälter ausgewirkt, die in den letzten Jahren entsprechend gestiegen sind. ,,Noch vor fünf Jahren haben Risikomanager zwischen 200.000 Euro und 300.000 Euro verdient. Heute dagegen variieren Gehälter von 250.000 Euro bis 450.000 Euro je nach Ausbildung und Erfahrung", weiß Rolf E. Stokburger, Managing Partner von Boyden Global Exectuive Search.
An ERM Update on the Global Insurance Industry
According to the third Tillinghast biennial survey of risk and capital management practices, insurers around the world are moving ahead to make integrated risk and capital management a strong driver of success. In particular, 'economic capital' has taken center stage as an important tool for quantifying risk and making risk-based decisions. To download the full survey, visit RiskNET:
http://www.risknet.de/Tillinghast-Adding-Value-Through-Risk-and-Capital.282.0.html
The Economist: Best practice in risk management
In February 2007, The Economist Intelligence Unit surveyed 218 executives around the world about their
approach to risk management and their perception of the key challenges and opportunities facing the
function. The survey was sponsored by ACE, IBM and KPMG. Respondents represent a wide range of industries
and regions, with roughly one-third each from Asia and Australasia, North America and western Europe.
Approximately 50% of respondents represent businesses with annual revenue of more than
US$500m. All respondents have influence over, or responsibility for, strategic decisions on risk
management at their companies and around 65% are C-level or board-level executives. Get the survey on RiskNET:
Download the Survey from our Partner RiskNET
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