internal audit planning

Managing Uncertainty: Escalating Unknown Knowns (Part 2 of 2)

ERM Software in Action As discussed in part 1 of this blog series, many businesses do not formally recognize their critical risk networks. Without proper acknowledgment, fundamental risks remain essentially invisible. That being said, it’s vital to create conditions that enable a useful risk management network to be formed and used across the enterprise. So, how…

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connecting risk information

Managing Uncertainty: Escalating Unknown Knowns (Part 1 of 2)

Risks are known far in advance by at least one employee – and typically by several – on the front lines of every business. However, problems arise when managers lack mechanisms to escalate and connect their risks with the concerns shared by colleagues in other parts of the organization. When critical business interdependencies are not formally…

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ISO 19600: A Risk-Based Approach to Compliance Management

LogicManager has long believed that an Enterprise Risk Management methodology, also known as a risk-based approach, is the best way of accomplishing any type of organizational governance. With risk as the common factor, governance activities become standardized and comparable, enabling better decision making. As it turns out, the International Organization for Standardization, or ISO, agrees.…

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Credit Union Industry

Five Reasons Your Company Hasn’t Adopted ERM Software, and Five Reasons it Should

The Risk and Insurance Management Society (RIMS) has released two executive reports, “Why a Mature ERM Effort is Worth the Investment” and “Testing Value Creation through ERM Maturity.” Together, these reports look at recent findings that detail the benefits of investing in enterprise risk management. Despite evidence that mature ERM programs add significant value, many…

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Choosing an Enterprise Risk Management (ERM) Software

Enterprise Risk Management (ERM) software, unfortunately, is a poorly defined (and often poorly executed) concept. But, by structuring vendor selection around the core concepts of Enterprise Risk Management, Risk Managers can mitigate the inherent risks that accompany a software implementation.   Common Pitfalls of ERM Programs The common maturity process of ERM programs looks something…

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