Houston, We Have Solutions to Your ERM Problems
The Corporate ERM group will meet in early May at Marathon Oil in Houston to drill into a wide-ranging number of issues on the minds of enterprise risk management professionals at multinational corporations. Here’s a quick look at what’s on tap after members discuss their projects and priorities:
Dance Moves: Dr. Paul Walker of St. John’s University will give another lesson in his series on how companies can turn the “clunky dance” that risk and strategy groups often perform into something resembling a smooth waltz. Underlying the new choreography is a commitment to improving the detection of risk and uncertainty embedded in strategic choices. And we’ll review how organizations view the challenges of uniting risk and strategy, and discuss the best practices to address them. Later, a member will share with the group work done with Dr. Walker involving how to measure and anticipate the risks of unforeseen and surprising events. Call it a black-swan workshop.
Back to B-School: Remember those Harvard Business School case studies? We’ll close the strategy discussion with a workshop where members work through a case study to see what risks could have been avoided and how the situation should best be handled. We’re looking forward to hearing varying perspectives and opinions as members make the case for their take on the topic.
Risky Business: On day two, we’ll tackle how members organize and frame risk, select which risks to analyze (what’s the right number of risks?) and we’ll discuss what other internal teams can support the risk mitigation effort. Later we’ll explore what it takes to have a world-class risk program and which metrics should be used to judge the success of ERM groups. How can programs grow more robust? Read more about risk framing here.
As always at NeuGroup meetings, members will have plenty of time for off-line and informal discussions when they can connect, compare notes, exchange knowledge and, perhaps, discuss their dance moves.
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