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Risk Management Assessment
Company logo for “The ALS Group” featuring a stylized blue and white lightburst graphic
RMA

The ALS Group Risk Management Articles

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

Understanding Your Organization’s Risk Tolerance Levels

A constant struggle for the risk manager of an organization is balancing the profitability expectations of its shareholders and maximizing operational efficiency of the risk management team in order to reduce the organization’s Total Cost of Risk (TCoR). Having a clear perspective of the organization’s appetite for risk and risk tolerance is a fundamental element needed in order to achieve this balance.

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The ALS Group October 15, 2014

Business or Pleasure? Either Could Become a Nightmare without a Mobile Security Policy.

So you are traveling for business or you have finally scheduled a few days away from the office. You pack your bags and are sure to not forget your mobile phone, tablet, and laptop. Now stop for a second and consider the consequences if one of those devices goes missing, is lost, stolen, or even hacked. How much personal or company data would be at risk? Bank account information, e-mails, contact information, confidential business documents. It’s all there for the taking.

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The ALS Group October 13, 2014

ERM: Process or Strategy? Where is the Value?

The recent Enterprise Risk Management (ERM) Workshop held by North Carolina State University was chock full of valuable information. It was attended by seasoned risk and audit professionals all looking for ways to improve the effectiveness of their own ERM programs.

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The ALS Group October 8, 2014

ERM: A Riddle Wrapped Up In an Enigma

While it was never the intent of Winston Churchill that his famous description of Russia’s intentions in 1939 would apply to Enterprise Risk Management (ERM), the analogy applies pretty well. “It is a riddle, wrapped in a mystery, inside an enigma, but perhaps there is a key.” I firmly believe there is a key to a proper, productive and easily understood ERM program.

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The ALS Group October 2, 2014

Insider IT Threats

IT-related threats originate from multiple angles, all of which require proper attention and application of mitigation techniques. Perhaps the biggest threat to a company’s IT security is their internal contacts (staff, vendors, contractors, etc.). Many companies are utilizing heightened IT security measures, but fail to account for the negligible or malicious actions from these internal contacts who often have high-level access to company systems.  Inside access often isn’t monitored and can easily lead to stolen data or corrupted systems.

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The ALS Group September 22, 2014

Safety and OSHA Compliance

As stated in my May Blog, there are many regulations an organization needs to implement and maintain in order to be in compliance with the Occupational Safety and Health Administration (OSHA) and avoid fines and risks associated with not being compliant.

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The ALS Group July 8, 2014

Data Breach – A Complicated Issue Where No Two Attacks Are The Same

When looking at a company’s risk, one of the most overlooked aspects is how it manages its informational security. In their most recent Data Breach Investigations Report, Verizon was able to classify 92% of the millions of breaches over the past few years into nine basic patterns. It would be a reasonable assumption that these nine patterns of attack would be the same across the business landscape. Unfortunately this is not the case as the sophistication of the attacks change depending on a company’s industry. As an example representing both the Financial and the Energy/Utilities Sectors, the highest type of breach was web app attacks. This occurred as the retail

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The ALS Group June 10, 2014

Claims Handling: How to Turn Lemons into Lemonade

One of the most misunderstood areas of the insurance business is claims handling. Often mishandled, this function is the reason companies buy insurance. To be certain the following four key elements are being managed effectively, there are several points to remember when evaluating your claims management program: 1. Do you have an excellent working relationship with your carrier and intermediary [broker or third party administrator (TPA)], including a written agreement on roles, responsibilities (key performance indicators – KPI’s) and communication?

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The ALS Group June 4, 2014

How to have a successful ERM process

A few weeks ago I attended the Enterprise Risk Management (ERM) Roundtable Summit held by NC State University. Although there were many speakers from a number of different industries, the same theme resonated throughout the day. The theme was, in order for any organization to have a successful ERM process it must foster thoughtful discussions between those who are tasked with ERM. As we have mentioned previously, it is easy for ERM to become just another “compliance check-box.” However, encouraging a challenging dialogue among team members can certainly help your organization move past the “check-box” mentality.

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The ALS Group May 27, 2014

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