Al Decker > Quotes

“we should consider the concept of the “black swan,” which has attracted a lot of attention since the crash of the US housing bubble in 2008. In his book, The Black Swan: The Impact of the Highly Improbable,1 Nassim Taleb defines a black swan as a hard-to-predict occurrence that nonetheless has an enormous impact on people’s lives.”
― Al Decker, Enterprise Risk Management - Straight to the Point: An Implementation Guide Function by Function

“Enterprise Risk Management (ERM) involves viewing risk holistically and horizontally across an organization. Both insurable and non-insurable risks are identified across all facets and disciplines of an entity, with the objective to eliminate, ameliorate or transfer such risks—or prepare to accept them.”
― Al Decker, Enterprise Risk Management - Straight to the Point: An Implementation Guide Function by Function

“The SWOT component of strategic planning is the first point where strategy and risk management intersect. The product of the ERM process (the identified risks and mitigation plans) can inform the strategic planners—and vice versa. ”
― Al Decker, Enterprise Risk Management - Straight to the Point: An Implementation Guide Function by Function

“There are two widely recognized frameworks for putting ERM into practice: the COSO (Committee of Sponsoring Organizations of the Treadway Commission) Enterprise Risk Management Integrated Framework and the ISO (International Organization for Standardization) Standard 31000: Risk Management Principle and Guidelines. There are some differences between these frameworks, and each has its share of proponents. Regardless of their differences, however, they both provide meaningful structure for ERM within the organization.”
― Al Decker, Enterprise Risk Management - Straight to the Point: An Implementation Guide Function by Function