Norman Marks

JULY 14, 2022

My thanks go to Professors Mark Beasley and Bruce Branson of North Carolina State University’s Poole College of Management (the Enterprise Risk Management Initiative). They recently published 2022 The State of Risk Oversight: An Overview of Enterprise Risk Management Practices – 13th Edition.

Risk Management 58

Risk Management Management Compliance Government 58

Norman Marks

SEPTEMBER 18, 2024

But I am going to take one CFO, share what he has to say about risk management, and talk about how dangerous his views and practices are. It is far too easy to generalize about all CFOs from the example of one. The Wall Street Journal recently published an article provided by Deloitte, Frank D’Amelio, […]

Risk Management 49

Risk Management Management Compliance Government 49

Norman Marks

JULY 25, 2022

My thanks to Alex Sidorenko, who recently wrote about The Directors and Chief Risk Officers Group (DCRO) on his blog in Companies need intelligent risk-taking to survive according to DCRO Institute. I really like the shift from talking about risk management to risk-taking.

Government 58

Government Risk Management Management Compliance 58

Norman Marks

APRIL 4, 2024

I congratulate José David Pino for his brave attempt to call attention to ineffective risk management in his article for the IIA’s magazine, On the Frontlines: How Mature is Your Risk Management?

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

JULY 5, 2022

I commend Marco Nutini for his recent LinkedIn post, Risk and decision: egg or chicken? He asks: In your opinion, which of the two alternatives best represents the Enterprise Risk Management process?

Risk Management 49

Risk Management Management Compliance Government 49

Norman Marks

NOVEMBER 13, 2024

My good friend, Brian Barnier, is a brilliant individual with excellent insights into financial and cyber risk management His personal website has a challenging sidebar. It says: Good risk management is… Building value Always having a Plan B (and C, D and …) The laser eye surgery of business — it sharpens focus.

Risk Management 40

Risk Management Management Planning Compliance 40

Norman Marks

JULY 1, 2022

Nick Sanna, the CEO of RiskLens, a software company specializing in cyber risk management, recently issued a wake-up call for risk managers in a presentation at a Professional Risk Managers’ International Association (PRMIA) conference. He “encouraged risk managers […].

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

AUGUST 7, 2024

On the same day that I published my last blog post, Important survey results for internal audit, boards, and management, explaining how internal audit can help their organization upgrade risk management processes, I saw the IIA President and CEO, Anthony Pugliese, announce: UPDATED GLOBAL PRACTICE GUIDE: Assessing the Risk Management Process, 2nd Edition (..)

Risk Management 52

Risk Management Management Compliance Government 52

Risk Management Guru

SEPTEMBER 20, 2021

Whether you’ve just started in Risk Management or you’re already a professional in this arena, this article will interest you. We are highlighting some of the reference professionals we follow who are seasoned Risk Managers, each in its own area of expertise. Linked In. Website / Blog. Linked In. Steve Burns.

Risk Management 59

Risk Management Government Management Compliance 59

Risk Management Guru

NOVEMBER 23, 2023

The regulatory landscape for risk management in financial services is constantly evolving, presenting a formidable challenge for firms and Banks striving to comply and manage their risk profiles effectively. This engagement fosters a collaborative environment and enhances regulatory awareness.

Compliance 52

Compliance Risk Management Financial Services Management 52

Norman Marks

NOVEMBER 7, 2022

I want to thank the 102 people who responded to my survey. The results are quite interesting. First, there is an inherent bias in the responses. These are all people who are reading my posts and are therefore more likely (I believe) than the general population to agree with what I have been advocating. Having […].

Risk Management 56

Risk Management Management Compliance Government 56

Risk Management Guru

OCTOBER 24, 2022

The RBI Grade B Mains Exam’s Finance & Management portion includes a subsection on Risk Management in the Banking Sector. A bank may make more money by taking on greater risk since the relationship between risky assets is direct. What Does Risk Management Mean In The Banking Industry? Conclusion .

Risk Management 40

Risk Management Banking Management Assets 40

Norman Marks

JULY 17, 2023

Professors Mark Beasley and Bruce Branson of the North Carolina State University’s Poole College of Management have shared with us for 14 years the results of their surveys of risk management practices.

Risk Management 40

Risk Management Management Compliance Government 40

Norman Marks

JULY 21, 2023

Anthony Pugliese (President and CEO of the IIA) said in a recent webinar that GRC stands for Governance, Risk Management, and Compliance-slash-Control. I am sure he said that because the IIA has the C meaning Control while the rest of the universe has C for Compliance.

Compliance 40

Compliance Risk Management Government Management 40

Norman Marks

JUNE 20, 2022

PwC has shared with us the results of their 2022 Global Risk Survey. It has some interesting stuff, although (as usual) doesn’t go far enough for me. Their food stuff includes: In this turbulent business environment, many executives find the need to revise and adapt their strategies and operating models at a rapid pace. They […].

Risk Management 53

Risk Management Management Food Compliance 53

Good Financial Cents

DECEMBER 14, 2022

The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. They may work in various industries, such as investment firms, accounting firms, banks, or the government. Chief Compliance Officer. Financial Examiner.

Budgeting 88

Budgeting Compliance Accounting Insurance 88

Norman Marks

MARCH 18, 2022

For example, the traditional way of thinking about responses to risk includes the expression “accepting risk”. A single word can change so much. The options are avoiding, transferring, or mitigating. The idea of taking more (!) is ignored.) That is so passive!

Risk Management 40

Risk Management Management Compliance Government 40

Norman Marks

SEPTEMBER 19, 2022

Today, I will review two very different sources for perspectives on risk management. The first is an interview with Robert Finocchio on ‘Risk Oversight and Assessment’. Then I will provide a link to a paper by a law firm of relevance for board members and CROs. If you look at his background, you will see […].

Management 81

Management Risk Management Compliance Government 81

Norman Marks

NOVEMBER 9, 2023

My congratulations to my good friend, Jim Deloach, and to James Lam for their contributions to Board Risk Oversight in the Age of Disruption, published by the (US) National Association of Corporate Directors (NACD). The article captures some of the content of an NACD webinar that was hosted by Protiviti with James Lam as a […]

Risk Management 49

Risk Management Management Compliance Government 49

Norman Marks

SEPTEMBER 9, 2024

My good friend and fellow OCEG Fellow, Michael Rasmussen, has shared some of his views/rants about the practice of risk management.

Risk Management 49

Risk Management Management Compliance Government 49

Norman Marks

DECEMBER 8, 2022

Earlier this week, I enjoyed a conversation with Joshua Rosenberg, Executive Vice President and Chief Risk Officer of the Federal Reserve Bank of New York. I was great to chat with a gentleman who has a prominent position, and whose thinking on risk management appears to be well aligned with mine (with a few exceptions, […].

Risk Management 58

Risk Management Banking Management Compliance 58

Norman Marks

MARCH 28, 2024

I have written a lot over the years about risk appetite and the value of risk appetite statements, both here on this blog and also in my books, especially World-Class Risk Management (2015) and Risk Management in Plain English: A Guide for Executives, Enabling Success through Intelligent and Informed Risk-Taking (2018).

Risk Management 49

Risk Management Management Compliance Government 49

Norman Marks

OCTOBER 23, 2023

I have some video events coming up, including: Risk Awareness Week 2023, where I am speaking on risk-taking. An Institute of Risk Management panel discussion on “How Risk Practitioners Can Earn Trust and Respect as Valued Partners”. The Risk Management Association’s annual conference.

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

MARCH 11, 2024

Today, let’s talk about their second demand, which follows on from their first: Express an overall opinion on the effectiveness of risk management and controls by “connecting the dots”. Let’s […]

Risk Management 53

Risk Management Management Compliance Government 53

Norman Marks

NOVEMBER 27, 2023

He wisely says: If we wanted to really make a difference to decision makers we would switch from risk reporting to risk-adjusted performance reporting instead. Risk managers always have a choice: generate own risk reports or use the outputs of […] It’s an excellent question.

Risk Management 53

Risk Management Management Compliance Government 53

Norman Marks

JULY 3, 2023

A few days ago, Lose Luiz Valentim commented on my post, Auditors need to understand risk management. He pointed out that banks and other financial institutions are required by their regulators to have a risk appetite statement, and asked my views on assessing their effectiveness.

Risk Management 53

Risk Management Banking Management Compliance 53

Risk Management Guru

AUGUST 12, 2020

A continual culture of compliance is successfully achieved through using compliance software along with a healthy mix of risk assessments, inspections, and ongoing trainings all directed from the top down. The post 7 Risk Assessment Blind Spots (and How to Beat Them) appeared first on Risk Management Guru.

Insurance Coverage 52

Insurance Coverage Compliance Risk Management Communication 52

Norman Marks

FEBRUARY 15, 2024

I read a recent post on LinkedIn (now deleted, fortunately) that asserted that the job of the risk manager is to quantify every risk. Of course I replied that their job is to help the organization and its leaders succeed by helping them get the right information at the right time to make the right […]

Risk Management 49

Risk Management Management Compliance Government 49

Brown Advisory

DECEMBER 5, 2023

Yet a whole slew of relevant environmental, social, and governance-related information has been panned by political agendas that are far removed from the purview of investment managers. All of these potential outcomes of a company’s ability to manage its environmental, social, and governance issues should be of interest to investors.

Fiduciary Duty 52

Fiduciary Duty Government Clients Investing 52

Norman Marks

MARCH 22, 2024

This may be an odd question to ask, but as a leader of internal audit and risk management it was an important issue for me. While there is so much talk about artificial intelligence, I believe it is far more important to optimize human intelligence! Where we sit affects: Our ability to know what is […]

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

NOVEMBER 2, 2023

First, we had the Wells Fargo case, where the CRO and CAE have both been charged with negligence or worse, a crime for not reporting risk management deficiencies to the board and the regulators. I discussed it earlier. Now the SEC is charging a CISO with fraud! Their press release says, with my highlights: The […]

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

JUNE 19, 2023

Lisa Young has a lot of experience in cybersecurity and cyber risk management. When she says something about cyber and cyber risk, we should listen. Recently, she wrote a piece for ISACA, Getting More Value from Risk Assessments. Look at her impressive LinkedIn profile.)

Risk Management 45

Risk Management Management Compliance Government 45

Norman Marks

AUGUST 5, 2024

A new report from AuditBoard, Internal Audit’s Expanding Role: The Foundation for Connected Risk, written by an old friend (Tom O’Reilly), makes three important points: Internal audit functions are not efficient. Leaders are looking […]

Management 40

Management Risk Management Compliance Government 40

The Big Picture

DECEMBER 6, 2022

People in Spain when I was growing up in the ‘80s and ‘90s, they expect to just retire and have the government give them like a paycheck every month. But when you factor in, you know, legal costs, compliance, portfolio management, trading, there is a lot that goes into launching an ETF. You also have an S&P 500 Covered Call.

Clients 163

Clients Investments Investing Management 163

Norman Marks

MARCH 22, 2022

My good friend, Michael Rasmussen, has shared an article that was recently published by the Institute of Risk Management. (I These are three of today’s buzzwords. I am an Honorary Fellow of that institute and Michael has received other honors from them.) I like what he has to say about agility: Agility is a thing of […].

Risk Management 40

Risk Management Management Compliance Government 40

Good Financial Cents

AUGUST 12, 2023

Understanding these rules or consulting a tax professional is vital to maximizing after-tax returns and compliance with tax laws. Whether it’s investment in different market sectors, rental properties across various locations, or a mix of bonds and stocks, diversification is a fundamental risk management strategy in financial planning.

Risk Tolerance 58

Risk Tolerance Taxes Compliance Retirement 58

WiserAdvisor

MARCH 13, 2024

It serves as a fundamental risk management strategy. Retirement accounts, such as 401(k)s and IRAs, are essential components of income planning, but navigating the rules governing withdrawals and RMDs can be complex. Diversification lies at the heart of investment planning.

Retirement Planning 105

Retirement Planning Retirement Planning Estate Planning 105