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Enterprise Risk Management

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Croydon Consulting, LLC
Croydon Consulting, LLC

Overview of enterprise risk management and process for setting up a program

Economy & Finance
1 of 21
AH&T Nonprofit’s 13 th Annual Risk Management Seminar Leslie T. White CPCU, CIC, ARM, CRM Croydon Consulting, LLC November 10, 2005 Enterprise Risk Management
Risk Management A discipline for dealing with the possibility that some future event may cause unexpected results Dealing with uncertainty . . .
Principles of Enterprise Risk Management ,[object Object],[object Object],[object Object]
Purpose of Enterprise Risk Management ,[object Object],[object Object],[object Object],[object Object]
Dealing with uncertainty . . . ,[object Object],[object Object],[object Object],[object Object]
Dealing with uncertainty . . . ,[object Object],[object Object],[object Object]
Innovation requires risk taking. Taking risks requires informed, fact-based decision making. Why Risk Management?
Risk Management Roles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management Roles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management Program Development Plan ,[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management Program Development Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Risk Management Attitudes ,[object Object],[object Object],[object Object],[object Object]
Risk Management Basics ,[object Object],[object Object],[object Object],[object Object],[object Object]
The first standard that should be in effect for any organization is the safety of its constituents. Goal of Risk Management
Risk Management Cycle Identify risks Evaluate & prioritize risks Select risk management techniques Implement techniques Monitor & improve the program
Risk Management Process 1. Acknowledge and identify risks “ What could go wrong?” ,[object Object],[object Object],[object Object],[object Object],Nonprofit Assets Dimensions of Risk ,[object Object],[object Object],[object Object],[object Object]
Risk Management Process 2. Evaluate and prioritize risks Frequency Severity Risk Analysis
Risk Management Process 3. Select and implement risk management techniques Avoidance Modification Retention Transfer “ What will we do?”
Risk Management Process 4. Monitor and update the program ,[object Object],[object Object],[object Object]
Cost of Risk ,[object Object],[object Object],[object Object],[object Object]
Croydon Consulting, LLC Leslie T. White, CPCU, CIC, ARM, CRM P. O. Box 1414 Severna Park, MD 21146-8414 410-544-0913 Fax 410-544-9913 Email: Lwhite@croydonconsult.com www.croydonconsult.com

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Enterprise Risk Management

  • 1. AH&T Nonprofit’s 13 th Annual Risk Management Seminar Leslie T. White CPCU, CIC, ARM, CRM Croydon Consulting, LLC November 10, 2005 Enterprise Risk Management
  • 2. Risk Management A discipline for dealing with the possibility that some future event may cause unexpected results Dealing with uncertainty . . .
  • 3.
  • 4.
  • 5.
  • 6.
  • 7. Innovation requires risk taking. Taking risks requires informed, fact-based decision making. Why Risk Management?
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14. The first standard that should be in effect for any organization is the safety of its constituents. Goal of Risk Management
  • 15. Risk Management Cycle Identify risks Evaluate & prioritize risks Select risk management techniques Implement techniques Monitor & improve the program
  • 16.
  • 17. Risk Management Process 2. Evaluate and prioritize risks Frequency Severity Risk Analysis
  • 18. Risk Management Process 3. Select and implement risk management techniques Avoidance Modification Retention Transfer “ What will we do?”
  • 19.
  • 20.
  • 21. Croydon Consulting, LLC Leslie T. White, CPCU, CIC, ARM, CRM P. O. Box 1414 Severna Park, MD 21146-8414 410-544-0913 Fax 410-544-9913 Email: Lwhite@croydonconsult.com www.croydonconsult.com