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Posts Tagged ‘ERM’

Guest Column: COSO at a Tipping Point?


Nearly 30 years ago as young bank auditor, I learned about a private sector initiative known as “The Committee of Sponsoring Organizations of the Treadway Commission,” or more simply, “COSO.” It was the mid-1980s. The savings & loan crisis was raging. COSO was, and continues to be, a joint effort of five private sector organizations…

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Podcast: New COSO Chairman Sobel


Internal control and risk management enthusiasts, listen up: we have a new podcast with incoming COSO chairman Paul Sobel, who talked about his desire for COSO to publish more guidance to help companies understand how to put its internal control and risk management frameworks to good, practical use. As always, you can listen to the…

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SEC Looking for Chief Risk Officer

compliance jobs

Audit and risk professionals with a yearning for public service at a good salary, you have a new option: the Securities and Exchange Commission is looking for its first-ever chief risk officer. The agency posted the job this week. Salary is $185,000 to $245,000, which is on par with what CROs earn in the private…

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COSO Debuts Final ERM Framework

COSO unveiled its new framework for enterprise risk management this morning, a trimmed down version of the original draft that still places a heavy emphasis on embedding risk management across the whole enterprise and tying it deeply to corporate strategy. The framework is available at It’s the result of nearly three years’ work and…

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SEC DERA, We Love You!


Let’s all be honest: the Securities and Exchange Commission is not known for a sense of humor. This is too bad, because at least some individual SEC employees I’ve met over the years have been quite funny. Their inner comedian yearns to break free in a litigation release or SEC comment letter, only to be…

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More Details on COSO ERM Framework

erm framework

More news on the COSO framework for enterprise risk management: the final framework will consist of 20 principles rather than the originally proposed 23; the “ERM rainbow” graphic will be replaced with a more DNA-like image; and yes, COSO intends to have the complete framework ready for public consumption by sometime in July. That’s the…

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Update to COSO’s ERM Framework Update

erm framework

COSO plans to simplify its forthcoming framework for enterprise risk management, paring back some of the 23 proposed principles and renaming some of the framework’s five components, according to a project summary PwC has been circulating lately. A friend of the cause passed along that presentation to me earlier this week, and the framework’s development…

Read More Launching New ERM Effort


Spotted on the Internet this weekend: is looking for a program manager to join a newly formed enterprise risk management team—which means, of course, that Amazon has a newly formed ERM team. That’s news to me. The job description says Amazon wants to create a new, centralized ERM function that acts as an adviser…

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ERM Framework: Govt. Sector Calls for Unity

erm framework

One of the sleeper issues this year, that could become a larger issue for risk and compliance officers next year, is the COSO draft framework for enterprise risk management. Compliance officers in the private sector might want to watch what your brethren in the government sector are saying about ERM, since the points they are raising…

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TEC 2016, Day 2: A Focus on Focus (and ERM)


The show-stopper for Day 2 of Workiva’s TEC 2016 user conference was a talk by Carey Lohrenz, the first female fighter pilot for the U.S. Navy. She gave an excellent keynote presentation Thursday morning about achieving high performance. Much to my surprise, however, Lohrenz’ comments also struck lots of chords with another TEC 2016 session that preceded…

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