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ENTERPRISE RISK MANAGEMENT

ENTERPRISE RISK MANAGEMENT. MCCI – BLOEMFONTEIN 29 OCTOBER 2013.

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ENTERPRISE RISK MANAGEMENT

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  1. ENTERPRISE RISK MANAGEMENT MCCI – BLOEMFONTEIN 29 OCTOBER 2013

  2. ARTHUR ELS – Enterprise Risk ActuaryManaging Director and Senior Actuary at Arthur Els and Associates; a medium-sized firm of Consulting Actuaries and Enterprise Risk Actuaries based in Johannesburg. Clients of the Company include a number of the Top 100 Companies in South Africa.Arthur is one of the few qualified Enterprise Risk Actuaries in the country. His Company is one of only two practices currently in South Africa offering clients actuarially-based Enterprise Risk Management expertise which is underpinned by the advanced CERA qualification.

  3. isconstantly evolving and GROWING morecomplex The business world everyday.

  4. the approach to MANAGING RISK So shouldn’t evolve as well?

  5. The post-9/11 business world is one of • Increasingly stringent regulatory standards • a rapidly globalising marketplace and • more demanding and active stakeholders Organisationswill increasingly rely on high level risk professionals who are independent, impartial to assure stakeholders of their sustainability

  6. and OPTIMISE risk to meet the company’s mission and objectives / goals.

  7. ENTERPRISE RISK MANAGEMENT

  8. ENTERPRISE RISK MANAGEMENT / CERA • Compile a detailed risk register • Apply statistical techniques for quantification of the risks • Risk based modelling of future scenarios

  9. EXAMPLE OF RISK REGISTER

  10. The age of information has come and gone, replaced by the age of business intelligence, which heralds the age of innovation …

  11. * CERA ~ Chartered Enterprise Risk ACTUARY The (CERA) credential encompasses the most comprehensive and rigorous demonstration of enterprise risk management (ERM) expertise available.

  12. CERACERA’S complete a rigorous curriculum that covers probability, financial mathematics, micro / macro economics, construction of actuarial models, advanced finance and enterprise risk management, financial reporting and operational risk.

  13. CERA represents insight, creativity and integrity. The “CERA” letters after someone’s name indicate to the business world that there is no other type of risk professional better equipped to take a 360-degree view of an organisation’s risk profile.

  14. CERAS ARE ADVANCING THE ERM FIELD • Enable organisations to be more transparent • Help companies adequately meet strict financial reporting and control requirements

  15. ADDRESS SECURITY AND TECHNOLOGY ISSUES • Prepare for disaster and business continuity in a post-9/11 world • Help companies remain competitive in the globalised marketplace

  16. THE TOP FIVE CONSTRAINTS* TO ACHIEVING BUSINESS OBJECTIVES • Cost of doing business • Currency volatility • Macroeconomic uncertainty • General skills shortage • Labour unrest * Source – www.barloworld-logistics.com 2013 Supply Chain Foresight

  17. THE TOP FOUR CONSTRAINTS* TO ACHIEVING SUPPLY CHAIN OBJECTIVES • Cost of transport • Available supply chain skills • Labour unrest • Efficiency of ports and harbours * Source – Barloworld Logistics 2013 Supply Chain Foresight

  18. CERAS focus on how operational risk, investment risk, strategic risk, and reputational risk collectively impact an organisation.

  19. CERAS ARE QUALIFIED FOR POSITIONS AS RISK ANALYST, RISK MANAGER AND CHIEF RISK OFFICER IN FIELDS SUCH AS:

  20. CERAS ARE ALSO QUALIFIED IN FIELDS SUCH AS: • Transportation • Media • Technology • Manufacturing • Construction • Healthcare

  21. Enterprise Risk Management / CERAThe determination of economic capital taking steps to mitigate undesirable risk likelihood of "black swan" events i.e. APPLYING extreme event theory

  22. … The business world is constantly evolving ~ growing more complex – in terms of KING III code of governance - ethical leadership, responsible corporate citizenship, the governance of risk, the governance of information technology (IT) …..

  23. OPPORTUNITY to MANAGING RISK … a window of

  24. “The penalty for not having an intelligent strategy as a business is no longer slower growth. It is death. Innovation has become an even more important element of a Company’s life cycle, since to grow somebody else has to shrink. Competition in being original has just undergone a quantum leap” ~ Clem Sunter

  25. “ ….. challenges become opportunities when the right people join together.”

  26. LETS TALK

  27. Arthur Els and Associates E-mail : arthur.e@arthurels.comWebsite : www.arthurels.com Contact number : +27 11 441 2700

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