Risk Management from OpenPages » Video Podcasts

OpenPages Wins 2009 Telly Award!

John Kelly — Wed, 15 Jul 2009 19:30:24 +0000

OpenPages has received a bronze award in the online video category as part of the 30th annual Telly Awards, a program that honors local, regional, and cable TV commercials and programs, video and film productions, and online film and video. There were 13,000 entries, so it was quite an honor to be recognized. Many thanks go to JCSI and SmartMarket Media for their creativity! To learn more about the award, take a closer look at our press release.

Take a look at our award-winning video. And if you’re smart, check out our careers page too!

Barclays Operational Risk Framework

John Kelly — Wed, 01 Apr 2009 17:39:27 +0000

In a recent OpRisk and Compliance Webinar, John Whittaker, group operational risk director at Barclays described how his team has achieved AMA by embedding the Operational Risk Framework. He described how the framework provides a single control infrastructure and common risk language across the Group and supports the effective measurement and management of operational risk.

In support of this initiative, Barclays implemented an operational risk system (built on OpenPages) which replaced separate systems used for Sarbanes Oxley and Operational Risk Management. The OpenPages solution provides Barclays a single repository for data and supports the harmonization of Operational Risk and Sarbanes Oxley risk and control assessment methodologies.

John was joined in the Webinar by Operational Riskdata eXchange Association (ORX) executive director Simon Wills who discussed operational loss data analysis and trends in the banking sector. To listen to this informative and substantive Webinar, check out the archived Webinar presented in its entirety.

Business Intelligence and Risk Management

John Kelly — Tue, 31 Mar 2009 17:34:06 +0000

In 1958, IBM researcher Hans Peter Luhn first introduced the term business intelligence (BI) in an article he contributed to the IBM Journal. He described business intelligence as "the ability to apprehend the interrelationships of presented facts in such a way as to guide action towards a desired goal." Cleary, business intelligence plays a key role in risk management providing executive level decision-makers the ability to look across all categories of risk (in different business units, categories, geographies etc.) and providing a global view into business performance and risk exposure.

Business Intelligence and risk management are linked on two levels. First, when used in conjunction they provide executive level transparency into risks within the organization, and secondly, they provide product planners and corporate strategists a risk-adjusted performance view.

If you’re considering a risk management solution, you might want to listen to a recent IT-Finance Connection podcast on the role of business intelligence in risk management. Additionally, here are some tips on leveraging risk management practices to provide stronger and more introspective BI analysis:

Identify and eliminate risk factors and exposure points within the organization to create a strong foundation/base.
Examine opportunities related to taking strategic risks within the business (new products, launches into new geographies/industries, M&A, etc.).
Asses the potential risk exposures tied to moving forward with strategic company direction and initiatives.
Apply this risk management analysis to your overall business intelligence framework to provide executive management/management board with a clear view of not just the company’s risk exposure (and where risks have been eliminated altogether) but where there is an opportunity to take strategic risks with the added layer of business intelligence needed to make smarter business decisions.

Check out our recent podcast for more details.

A Perspective on Risk Management

Gordon Burnes — Fri, 07 Nov 2008 13:55:05 +0000

Recently, I sat down with Scott Kwarta, the Director of Professional and Advisory Services at OpenPages to hear his perspective on risk management and to discuss how companies are managing governance, risk and compliance (GRC) today. We discussed what some of the drivers have been (Sarbanes-Oxley compliance was a key driver), how companies are leveraging GRC technology, and what he sees on the horizon for GRC.

Take a look at the video of our interview.

Executive ERM Forum video series continues with Sean Culbert of IBM

Gordon Burnes — Tue, 07 Oct 2008 20:45:28 +0000

I had the opportunity to sit down a couple months ago with Sean Culbert of IBM’s Global Business Services. GBS has a strong GRC practice, especially in operational risk and compliance in the financial services space. We’ve worked with them closely in the operational risk space. As the financial crisis plays out, many companies will be looking to expand their capacity in risk and compliance management, and IBM as a strong technology company has a unique perspective on what is the right GRC infrastructure to support a company’s risk management goals.

See the conversation here.

The Third Video Podcast from the Executive ERM Forum

Gordon Burnes — Fri, 19 Sep 2008 21:30:25 +0000

This is the third podcast in our Executive ERM video podcast series and features John Klein, vice president, corporate audit services, Carnival Corporation & plc. As part of his interview John discusses Carnival’s enterprise risk management initiatives and the underlying role Sarbanes-Oxley has played in carrying out these activities. Carnival currently uses OpenPages’ solutions to improve Carnival’s GRC activities, enabling Carnival to develop and commit to a robust, enterprise-wide approach to governance, risk and compliance initiatives.

The Second Video Podcast from the Executive ERM Forum

Gordon Burnes — Fri, 05 Sep 2008 21:26:21 +0000

The next installment in the video podcast series from the Executive ERM Forum is my interview with Rick Lawson, Senior Vice President of Operational Risk at GMAC.

Video podcasts from the Executive ERM Forum

Gordon Burnes — Fri, 22 Aug 2008 21:20:03 +0000

OpenPages recently held an Executive ERM Forum on best practices in enterprise risk management. The forum was one in a series that gather Chief Risk Officers and senior risk and compliance executives from OpenPages’ customer base, as well as industry thought leaders and experts to discuss the latest trends and lessons learned in ERM. Given the current economic environment and losses in the financial services industry, this was a very timely discussion. Also, some of you may have seen press on the recent survey on ERM from Crowe Chizek published in Treasury and Risk. The accounting firm found that more than 65% of CFOs and 70% of audit committee members surveyed said that ERM was their #1 concern. Clearly, ERM is top of mind for risk managers.

Anyway, as part of the event, we interviewed some of the participants and will be posting these interviews here over the course of the next two months. OpenPages advisor Rick Steinberg, who really needs no introduction in the risk world as the father of COSO, hosted the event and writes about the discussion in the latest issue of Compliance Week (subscription required). I had the opportunity to interview Rick before the event which you can watch below.