All posts by Steve Mallory

Top Risks You Need to be Concerned About in 2021

Most boards and executive teams review, at least annually, the corporate Risk Registers prepared by their organization’s management. To ensure proper prioritization, a Risk Register should be regularly updated to capture new and emerging risks and to reflect changing internal and external conditions. Senior leadership will benefit from a quick review of the new 2021 Allianz Risk Barometer to compare their company’s Risk Registers with the risks identified by 2,769 risk management experts from 92 countries and territories who participated in the study. The Allianz Risk Barometer identifies important corporate perils for the next 12 months and beyond, and of interest to you will be the new and emerging risks identified.

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COVID-19 Resource Centre for Canadian Businesses

It an honour to be chosen as a member of the GPC Advisory Panel (Governance Professionals of Canada) for Navigating Covid-19 Governance and Recovery matters. What does this mean for you? To help Canadian businesses manage through this crisis, the GPC is offering an open exchange for members and non-members to submit questions and get answers from professionals in various fields on key governance matters. Connect to the COVID-19 Resource Centre page below and ask questions (anonymously if you choose) on subjects including on: COVID-19 Government Measures, ESG Corporate Law, Executive Compensation, Enterprise Risk Management, Commercial Insurance, Employment, Tax, Banking and Financing, Litigation and Contractual Obligations, Crisis Communications, and many other subjects. This page also provides you access to COVID-related webcasts, relevant articles, links and other useful resources. 

I hope you’ll utilize this valuable resource. Click here to visit the GPC COVID-19 Resource Centre

COVID-19: Governance, Risk Implications, and the Role of the Board

I was pleased to be Moderator for this important session held on Friday March 20, 2020 @ 10:00-11:30am EST, hosted by the Governance Professionals of Canada. What are the risks facing businesses? What is the level of preparedness organizations should have, and what questions should boards ask? Now is a time for directors to avoid the weeds and carefully craft questions focussing on the key strategic issues. How should you govern, recognizing the steps prescribed for Canadian businesses in “An open letter from business leaders on limiting coronavirus’s spread” (March 17, 2020 Globe and Mail). Click below for a recording of this important Webinar, and to review the Open Letter from Business Leaders.

Experts Identify the Critical Business Risks for 2020

Three of the world’s top risk management firms have surveyed thousands of board members, C-Suite executives and operational practitioners from around the world to determine the most critical issues ahead for 2020. As your organization rolls out its strategy for 2020, it’ll be key to understand the risks which global leaders agree might impact your corporate objectives. This paper compares two leading “Top 10” lists, highlights common themes, and provides data for use in comparison to your organization’s risk register.

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YouTube Series: Protecting Officers & Directors Against Personal Liability

Click top left corner of screen below to choose your episode:

Coca Cola on Risk Identification & Risk Resources

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Of the many things that effective leaders can do to reach their goals, properly identifying risks is one of them. Education is another. In this issue of Commentary, we look at how Coca-Cola identifies their corporate risks, and how they educate their people on risk management. Finally, we refer to resource rich research which provides access for you and your team to hundreds of papers and videos, to help you better manage risk. Read more…

Lessons from U of Calgary’s Cyber Ransom: How to Protect your Organization

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Why would a sophisticated university need to succumb to paying a ransom to petty cyber thieves? According to Linda Delgetty, University of Calgary’s Vice-President of Finances and Services, “…. we did that solely so we could protect the quality and the nature of the information we generate at the university.”1 In other words, the university was not prepared for the attack and risked losing years of research data, so it chose to barter with criminals risking that the data may never be retrieved. What can we learn from this incident and how should Canadian business leaders protect their organizations? Read more…

Taking Calculated Business Risks in a Volatile 2016

Images- Calcualting Global Meltdown stock board

As the dust from 2015 settles, Canadian business leaders return to their desks facing a daunting list of new and emerging risks in 2016. The big winners will be those executives and boards who work collaboratively to select the best growth opportunities, and take calculated risks pursuing them. How will they do this?

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Staying Current on Leading Risk Management Practices

IMages- best practices in risk from bingI was honoured to be included on a panel  at this years FEI Canada’s annual conference held in Winnipeg in June 2015.  A large audience attended the session on Leading Practices in Implementing Risk Management. This subject is evidently top of mind at many organizations in Canada. In writing this article which appears in the FEI Newsletter, I have summarized the key takeaways in a format that will be useful for busy senior executives and board members looking to stay current on best practices in formalized risk management. Read more…

Protect Yourself: Snapshot of Directors & Officers Duties, Liabilities, and Insurance

Protect Yourself
Oversight of protection for directors & officers against litigation may be one of the most important actions a business leader undertakes, yet this function is often overlooked. As a guest speaker at the Canadian Society of Corporate Secretaries (CSCS) annual conference in Montreal in August 2015, I outlined a key rule which surprised some attendees: D&O’s must personally take the time to ensure that they are properly protected from litigation. Many busy business leaders mistakenly believe that is the job of others to protect them, failing to rigorously oversee the various processes which must be in place. The intent of this paper is to provide a quick summarized snapshot for busy business leaders on: the basic duties of D&O’s; current litigation and trends; the basics in D&O insurance and common mistakes; and common best practices. This quick read could save you from scrambling if and when you are named in litigation later.  Read more…