Remove Retail Remove Risk Management Remove Strategic
article thumbnail

Macy’s $154M Lesson: Why Every Company Needs Separation of Duties

LogisManager

Macys, one of Americas most iconic retailers, revealed that an internal accounting fraud had distorted its financial results for years ( New York Post ). And when risk management processes are siloed or superficial, the opportunity for misconduct expands. While the U.S. Separation of Duty isnt just about compliance.

Retail 52
article thumbnail

The Difference Between Strategic and Operational Risk

Reciprocity

Understanding these risks can improve business practices and decision-making, and allow risk managers to implement wise risk mitigation and management controls. This article addresses common questions about strategic and operational risk, such as: What are strategic risks and operational risks?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management (ERM) is critical for success in the modern business landscape. Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters.

article thumbnail

What Is Enterprise Risk Management & Its Importance

Reciprocity

You must find ways to manage, mitigate, accept, or transfer these risks. Here’s where enterprise risk management (ERM) comes in. It helps you manage, minimize, and in some cases eliminate risks, to keep your organization safe and in business. What Are the Components of Enterprise Risk Management?

article thumbnail

5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management is critical for business success. ERM is the process of methodically identifying and dealing with any potential events that threaten the achievement of strategic objectives or competitive advantage opportunities. When establishing an ERM program, risk mitigation is a paramount concern.

article thumbnail

Strengthening security resilience: A proactive approach to evolving threats

everbridge

Organizations must take a proactive approach to supply chain risk management, ensuring they have redundancy plans in place. Civil unrest and public safety risks Social and political movements have increasingly led to disruptions, affecting businesses, city infrastructure, and workforce mobility.

article thumbnail

Dynamic Risks: Working Definitions and Implications for Risk Management Teams

On Solve

As our OnSolve leadership team reflects on 2020 and 2021, we note a trend in our conversations with Business Continuity (BC), Enterprise Risk Management (ERM), Physical Security (PS), Travel Risk Management (TRM) and Supply Chain Risk Management (SCRM) leaders. Dynamic Environment vs Dynamic Risks.