Sword GRC Blog

Stay up to date on the latest from Sword GRC and best practices from the world of risk management.

What more can we do to save lives whilst increasing productivity?

Whilst mining, oil and gas represent some of the largest markets across the Latin America, they are amongst the most dangerous and technically challenging in which to work and operate.

Risk management to help attain project goals

How can project teams avoid or minimise the impact of potential risks that could impede the project from attaining its goals? ‘Back to basics’ in approach, this short post outlines some key steps that can help keep your critical projects on track through effective risk management.

Why prioritize third-party risks within project and enterprise risk management?

This short blog takes a look at what kind of risks can arise from working with third parties and considers why third-party risk management should be prioritized within an organization’s wider enterprise risk management (ERM) framework.

How the Risk Manager can be relevant to the C-suite

In a popular Sword GRC webinar entitled ‘Making Risk Management Relevant to Executive Management’, GRC thought leader Jason Breton explored the importance of the Risk Manager role in 2022 within a context of organizational design.

“How can you make effective decisions if risk cost data is derived by sticking a finger in the air?”

Risk Cost Impact Formula – one of many innovations within Sword GRC’s 2022 Active Risk Manager solution set – solves the problems that stem from inaccuracy when calculating the cost impact of risks within project risk management.

Enhanced data visualization deepens understanding and strengthens risk intelligence

Jenny Ritson Smith, Global Marketing Manager explains how the innovative new risk data visualization tool within ARM 2022, Sword Visualizer, takes depth of understanding to whole new levels.

Viewpoint Risk Reporting

Shedding light on risk oversight

Risk oversight is widely considered to fall within the remit of the board, but do organizations feel that their risk management processes are supporting strategic decision-making?

How effective is your cyber security posture?

Last year Sword GRC invited risk management and cyber-security risk expert, Jane Teh from training and consultancy specialists, Reds11, to present a webinar exploring how a well approached and comprehensive cyber risk posture can bring value to organizations.

Integrating ESG risks within your organization’s risk profile

ESG may bring new dimensions to risk management, but are the principles – identifying risks and systematically managing them to mitigate negative impact and maximize opportunity – any different?

12 tips for evaluating risks

In this short blog, Sword GRC Marketing Manager, Jenny Ritson-Smith provides 12 risk evaluation tips to help risk professionals assess ‘uncertainty’ and determine the threats that should command the most attention in order to make the best decisions around mitigating them.

‘Changing the narrative’ around risk management

Keith Ricketts, VP of Marketing recently enjoyed a virtual ‘catch-up’ with Simon Levy, CEO of the Risk Management Institute of Australasia (RMIA) – the region’s leading professional organization for Risk Managers.

Traditional Risk Management and Enterprise Risk Management – same difference?

Traditional risk management (TRM) and Enterprise Risk Management (ERM) have much in common – they’re both methods of identifying, assessing and reaching decisions that minimize the adverse impact of risks within the organization. They both follow...

6 ways to foster a positive compliance culture

Meeting compliance requirements may be viewed by some as ‘box ticking’, simply to keep regulators happy or to avoid penalties for non-compliance. Yet as is the case with risk management, where risk data can greatly inform decision-making...

Risk-welcoming or risk-averse - which approach proved best in 2021?

Considered risk-taking or a risk averse corporate culture? Which approach stood organizations in good stead last year as thanks to the pandemic, uncertainty continued to prevail?

Project outcomes – how to support success with effective risk management

Sword GRC VP of Operations North Americas, David Emanuel and Solution Consultants, Karl Magnuson and Mike Balut explored why projects fail and perhaps more importantly, the proactive risk management best practice that can help achieve more successful project results.

Gain a ‘helicopter’ view of enterprise risk with risk management software

Inspired by the film, ‘No Time to Die’ in which, true to form, 007 adeptly uses situational awareness of opportunity, uncertainty and risks to his advantage, GRC Pundit, Michael Rasmussen suggests that taking a leaf out of Bond’s book is something that all organizations could benefit from when it comes to risk management.

Operational risk management - helping your C-suite to see opportunity

Internationally recognized speaker, writer and advisor in Operational Risk Management, Dr Ariane Chapelle addressed the issue of convincing the greater executive team to buy-in?

Occupational health and safety risk management

Occupational health and safety risk management – how effective are your risk controls?

In an occupational health and safety context, it goes without saying that effective interventions should be in place in order to manage or mitigate workplace hazards, particularly within working environments that are deemed to be ‘high risk’.

Governance, risk management and compliance - the benefits of joined-up thinking 

It’s widely accepted and well documented that taking a collaborative approach to risk management, internal audit and compliance processes brings organizations a whole host of benefits.

Risk management: Seven habits for highly effective projects

In this blog post, we reveal the seven behaviours that if not already in use, may be worth driving into your risk management processes for better project outcomes.

Risk management software - providing essential ‘visibility’ in supply chain risk

Commenting in an article entitled ‘Chain Reactions’, published in Enterprise Risk*- the magazine produced by the Institute of Risk Management - Greg Schlegel, Founder of the Supply Chain Risk Consortium in New Jersey suggests that the issue centers upon supply chain visibility.

Relevant Risk Signals

What to look for in risk management software

In this blog post, David Emanuel, VP of North America Operations at Sword GRC highlights what he believes should be the key considerations when researching and comparing risk management solutions.

Building bridges between risk data and informed decision-making

Most organizations appreciate the benefits of data-driven decision making – reaching solid decisions based on actual data rather than relying on observations, past experiences, or worse, trusting intuition or ‘gut feel’...

A ‘single source of truth’ for risk management within Financial Services institutions

The 12th edition of Deloitte’s Global Risk Management Survey was completed by 57 financial organizations across the world from March to September 2020...

Drive more value from risk management in insurance

This post features highlights from Lisa Cosentino’s insightful webinar, ‘Top 10 ways to drive more value from risk management in insurance’.

Risk management – read all about it!

Type ‘risk management’ into any search bar and you’ll find there’s a lot of reading matter out there! To help you navigate the content, we’ve put together a round-up of some of our preferred risk management blogs...

Risk management - why centralize your GRC data?

Governance, risk and compliance (GRC) data provides vital business intelligence, but one of the greatest obstacles that GRC professionals face when it comes to risk management is the ability to access the right information...

Where there’s risk, there’s opportunity

For many, the concept of risk is far removed from any positive connotation. It’s often associated with fear and negativity, the threat of financial loss, disruption and lack of confidence. But what if risk wasn’t just associated with...

Plan for project success with risk management

Why do so many projects fail to deliver? Delays in schedules, overruns in budgets, creep in project scope, failure to meet business requirements… they’re by no means unusual, but why do they keep happening?

Can the value of risk management be evidenced?

It may not be easy to assess and communicate the value of risk management, but according to Dr Arianne Chappelle, risk expert and Managing Partner at Chappelle Consulting...

Can we link risk management to project success?

Ask any project manager and they will tell you that managing risk plays a significant role in successful project delivery. It’s widely accepted that risk management strategies...

Exploring the role of risk management in a post-pandemic world Our survey said…

Has response to the COVID-19 pandemic reshaped how organizations view and manage risk? Sword GRC reached out to both...

How to attain Operational Resilience

“The need for operational risk management is more acute than ever” claims the Institute of Operational Risk (IOR) in its ‘Operational Resilience’ white paper. Geared at helping risk professionals to improve the practice of...

5 good reasons for centralizing GRC data

No-one could have predicted the impacts - health wise, financially, economically - caused by COVID-19. Organizations of all sizes and across every sector have had to...

Time for a collective re-think on Operational Resilience?

No-one could have predicted the impacts - health wise, financially, economically - caused by COVID-19. Organizations of all sizes and across every sector have had to...

How well defined is your organization’s risk appetite?

“Risk appetite is often referenced in organizations, without clearly defining what it is” states the Government Finance Function’s ‘Risk Appetite Guidance Note’.

Account for risk in quantitative analysis and decision making with Monte Carlo Analysis

Also known as the Monte Carlo Method - is used to solve complex problems in a diversity of scenarios...

Project Risks- who's in control?

Does it sometimes feel as if risks within your projects are beyond your control? You’re unsure about risk exposure levels? Unclear about the controls...

Top tips for effective project risk management

Does your organization’s approach to risk impact the success of delivering critical projects?

Why keep internal audit firmly in the ERM frame

Many organizations adopt a ‘Three Lines of Defence’ model for risk management and compliance and for this to be effective, operational leadership, compliance...

Emerging risks… how can we tackle what’s on the horizon?

In unpredictable times, can we identify risks that we don’t yet know? David Lannoy, Associate Director of Risk Training & Practices at Chappelle Consulting...

Risk management software recognised for technology excellence and customer impact

Following a detailed analysis of the global GRC software market, Quadrant Knowledge Solutions...

SPARK Matrix™: Governance, Risk, and Compliance (GRC) Platforms, 2021

Market Insights, Competitive Evaluation, and Vendor Rankings.

Risk management’s pandemic response - 5 key learnings

In December 2020, the Institute of Risk Management (IRM) conducted the second of its Risk Management Response to Covid-19 surveys, looking into the impact...

Risk Appetite and Key Risk Indicators

“The financial industry has demonstrated exceptional resilience in the wake of COVID-19 and should be praised for that. Much is, however, still to be strengthened at all levels, and learnings from the past year should be built upon..."

Empower your internal audit team with Audit Management Software

The ability to work within defined auditing project deadlines? Check. Exceptional organizational skills? Check. A passion for problem-solving? Check.

Good risk governance – how business leaders can bounce back from the pandemic

“COVID-19 has helped more people than before understand that a single root-cause issue can totally trigger risk at an enterprise level...”

The business case for Enterprise Risk Management

While it may be easy enough for risk professionals to appreciate the benefits that ERM can bring in driving robust risk management processes within an organization, it may be trickier to put the case...

Policy Lifecycle Management - the lowdown

Whether they are corporate, risk or regulatory orientated, they provide guiding principles or set out the latest legislative requirements, policies are part and parcel of corporate life.

How managing risk at the enterprise level supports business performance

In an ever-changing risk environment, risk managers can find themselves under mounting pressure to manage the multitude of risks that...

How learnings from Operational Loss Events can enrich your risk management framework

How learnings from Operational Loss Events can enrich your risk management framework.

Using Scenario Analysis to Assess Operational Risk

Assessing operational risk accurately is not without challenge, particularly when only limited data is available on risk probability and impact. And even if trend data can be accessed, who’s to say that risk events will repeat themselves?

Must-have metrics for effective Enterprise Risk Management

“Management is blind without access to the right metrics”. Risk data provides organizations with the opportunity to leverage information that will help to drive a more robust...

Key Risk Indicators – the right metrics for management

Key Risk Indicators – the right metrics for management. “It is impossible to drive a car without access to metrics on factors like speed or temperature. Similarly, management requires metrics to support effective decision-making and...

The A-Z on operational risk governance

The A-Z on operational risk governance. With stringent demands placed upon organizations from regulatory bodies and ever-changing legislation to contend with, a robust operational risk framework provides a basis from which an organization can ensure …

Risk Categorisation – your FAQS answered

Risk Categorisation – your FAQS answered. According to the Institute of Risk (IOR), “A workable risk taxonomy – often referred to as risk categorisation – can be regarded as the foundation upon which an effective operational risk management framework is …

Risk and Control Self Assessment – demystifying the methodology

Risk and Control Self Assessment – demystifying the methodology. No operational risk management framework is complete without Risk and Control Self Assessment (RCSA). This empowering technique, utilised by staff at all levels and across a …

Eight good reasons to manage operational risk appetite

Eight good reasons to manage operational risk appetite. Risk appetite. Risk tolerance. You’ll be familiar with the terms, but how do they differ? Are they in fact interchangeable, since both can influence business decision-making?

Embedding your Operational Risk Management Framework as a business imperative

Time to embed your Operational Risk Management Framework as a business imperative. Data, business controls, employee conduct, ethics, new technologies…

Why cultivate your risk culture?

Why cultivate your risk culture? Can having an appropriate risk culture help in the attainment of business goals and avoidance of potentially destructive surprises? The answer is ‘yes’ according to the Institute of Operational Risk …

Policy management matters – exploring the role of policy management software

Policy management matters – exploring the role of policy management software. Policies are fundamental …

Maximize Business Performance with Risk Management Software

Maximize Business Performance with Risk Management Software. In navigating the Covid-19 pandemic, businesses have had …

ERM – Supporting Environment, Social & Governance Risks in Mining

ERM – Supporting Environment, Social & Governance Risks in Mining. People. Planet. Profits. It’s widely acknowledged that ERM (Enterprise Risk Management)...

What is Policy Management Software

What is Policy Management Software? What is one vital tool all compliance-focused companies, big or small, should have? Policy management is the holding place and life cycle of a company’s important policy and procedural paperwork, …

Five risk-management priorities to safeguard shareholder value in the mining industry

Five risk-management priorities to safeguard shareholder value in the mining industry.

Risk Management – a maturity approach is challenging the old company view

Risk Management – a maturity approach is challenging the old company view. We recently held a roundtable event in Toronto where we…