An angry black tribe leader went to the priest to complain about his 10th child being white, after all the others were black. The priest who was the only white man for 200 miles said "some things are made by god and we cannot explain them". He went on to point out that there was one black sheep in the flock of white ones and no one knows why. The Tribesman‘s mood quickly changed and he said, “Father I will keep quiet about the white baby of you keep quiet about the black sheep, Ok?
Sunday, August 28, 2011
Tuesday, August 23, 2011
Wednesday, August 10, 2011
Enterprise Risk Management: Mitigation Strategies
Researches shows that the primary drivers of ERM are
- Corporate Governance requirements and other regulatory pressures
- Management and investor’s demand of strategic and operating risk.
The benefits of full ERM implementation are increased management accountability and better governance practices, greater managerial understanding of and consensus about corporate strategy, and, in some cases, higher credit ratings and hence a lower cost of capital.
The tools and techniques to measure the impact of strategic risks appear to vary, depending on the stage of ERM implementation. For advanced ERM companies, the most frequently used tools and techniques are key risk indicators, self-assessments, and scenario analysis. A general framework widely used among banks is COBIT developed by ISACA. COBIT was used effectively for managing risk within the technology teams to ensure that appropriate IT governance and IT assurance processes were utilized throughout the bank. A case study in included with this post to demonstrated the steps and benefit obtained from the implementation.
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