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Enterprise Risk Management – Trust NO ONE???

A truism of cyber-risk is that most events occur because of actions a person takes, not because of the electronic safeguards in place. My favorite is the "Candy Drop", where a USB drive is dropped in a parking lot outside of HQ and someone picks it up and plugs it...

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CECL – To Pool or not to Pool

That is the question.  The (current) incurred loss methodology strongly encourages pooling loans.  Most financial institutions only conduct an individual evaluation on impaired credits, although technically you can individually evaluate an unimpaired credit and...

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Keeping your risk program fresh and exciting

Risk and marketing share many of the same traits.  You could take the marketing adage, “Half of all marketing works.  We just don’t know which half”, and easily swap out the word marketing for risk.  The big difference comes in the fact that a marketing program gets...

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Enterprise Risk Management – Are the Regulators in Charge?

I was speaking at a conference earlier this year and was serving on an expert panel regarding the changes the Current Expected Credit Loss (CECL) will bring to the world of banking.   One of my co-presenters, responding to a question about the potential impact of CECL...

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Is Inherent Risk Identification Worth the Effort?

First off – What is Inherent?  What does the word mean?  Webster’s defines it as, “Inherent literally refers to something that is "stuck in" something else so firmly that they can't be separated”.  More commonly it is defined as, “belonging to the basic nature of...

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How Certain are you about your Uncertainties?

When you look at how risks are identified you see terms like inherent and residual or impact and likelihood but you rarely see the explicit use of the concept of uncertainty.  Inherent and residual risk, for example, refer to the raw risk before controls and the left...

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Ego and Risk Management

Starting off with the word ego creates an image of people with outsized personalities who are full of themselves and don’t allow others to make decisions.  It is someone saying, “I am right”, and accompanies the demand that their wishes be heeded.  But what I am...

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Practical Risk Management – Falling Doesn’t Mean Failing

Many years ago, when my kids were young, it became my job to teach them how to ride a bike.  Across the street from our house was a baseball field.  We went out in the field and I put them on the bike.  I decided, on my own, to teach them how to fall off of the bike...

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