ERM, are we obsessed with the process at the cost of usefulness? - A Case Study on a HR Risk
With most standards and “best practices” focused on the process, are we only doing risk management for compliance’s sake? Making risk management more relevant requires some thoughts and efforts but is entirely feasible and has been so for years. The webinar will illustrate this by showing how tailoring the methodology for a specific problem is generally more useful than trying to apply a generic process. The example concerns VIA Rail, a Canadian Crown Corporation headquartered in Montreal, Canada. The case study is about how a simple Monte Carlo simulation was applied to a Human Resource attrition risk caused by a project impacting employee commute time. This was done to support decision making about mitigation measures in a better way than falling back on risk matrices.
About The Speakers
Senior Adviser, Enterprise risk management, VIA Rail Canada
It’s simple, in matters of risk management we need to go above what most consultants and organisations are proposing. Be it for financial performance, Health and Safety or project portfolio management, the future of risk management does not lie within heat maps and shady formulas, but rather in sound methods. Through Monte Carlo simulations or decision trees, Machine Learning or statistics, we need to make sure that risk management is integrated in the DNA and the process of an organization. It’s also a team sport. What engages me is to leverage technology in order to better risk management as well as contributing to the increased maturity of an organization. Interests : Risk management, Data Science, public safety, result driven management, project management, quantitative analysis and strategic planning.