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INSIGHTS ON RISK & COMPLIANCE, BUSINESS IMPROVEMENT & PERSONAL DEVELOPMENT
Discover insightful articles on Risk Management, Compliance, Business Improvement, and Personal Development at ERM guru.
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All Blog Posts
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Managing Operational Risk of Insurance Companies – Part 4
Operational Incident & Loss Data, and Capital Calculation Internal loss data: Types of operational risk incident An operational risk incident is a result of an operational risk event i.e., failed or inadequate internal processes, people and systems or an external event. The following are some key types of operational risk incidents: Operational Loss or Gain […]
4 min read
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Managing Operational Risk of Insurance Companies – Part 3
Key Risk Indicators Key indicator definitions Risk, Control and Performance Indicators are common but distinct metrics used in the industry. All can play a valuable role in the measurement of the risk profile – as long as it is understood that each measures a different aspect of the business process and will indicate changes at […]
4 min read
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Joint study between Hubei University of Economics China and the Institute of Risk Management into the maturity of Risk Management Education in China
The Institute of Risk Management (IRM) is delighted to announce the release of a research report undertaken in partnership with Hubei University of Economics in Wuhan, China. The risk management center at the university, led by Distinguished Professor Ming-Che (Martin) Sung, has undertaken a study of risk management education across the universities of China. It […]
4 min read
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Managing Operational Risk of Insurance Companies – Part 2
Operational Risk framework To help manage operational risk, insurance companies are increasingly looking to build or modify their existing operational risk management framework. A commonly seen model includes seven components, which are Governance: vision, guiding principles, risk strategy, risk appetite, organization structure, risk glossary Risk assessment and management processes Capital: regulatory and economic capital modelling […]
4 min read
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Managing Operational Risk of Insurance Companies – Part 1
This article will examine the basics of operational risk management for insurance industry; although definition and the type of operational risks facing financial services companies share similar attributes, insurance industry in Vietnam has been more vulnerable to these than other companies in the financial services sector. We will look at the basics and followed by […]
4 min read
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Digitalisation: The 4th industrial revolution for risk management
Cyberattacks and data breach are amongst the top threats facing any business – the news is constantly highlighting global organisations (including well known trusted household names) that have suffered attacks at the hands of cyber criminals. Not only does this affect the personal data and credit card details of millions of customers, it also affects […]
4 min read