RISK AND PERFORMANCE MANAGEMENT. Copyr i g ht 2012, SAS Ins titut e Inc. All rights res er ve d.

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1 .

2 TODAY S DISCUSSION What is Risk Management? Emerging Trends Risk and Performance Management Synergies

3 WHAT IS RISK? RISK RISK Co-ordinated activities to direct and control an organization with regard to risk. (ISO 31000) Risk is the effect of uncertainty on objectives. (ISO 31000)

4 RISK TYPES AND GROWTH IN AWARENESS It is not uncommon for best practice organizations to have identified 100+ different types of risks to meeting their organizational objectives.

5 NON-FINANCIAL RISKS CHARACTERISTICS The Challenge How to effectively integrate risk management with business strategy? Context rich and data poor Difficult to build effective models Require subject matter expertize There are too many risks Risks exist everywhere in your organization

6 TOP STRATEGY ISSUES Execution: When strategies fail, most fail not because the strategy was wrong, but because it was poorly executed. Management by objectives works if you know the objectives. Peter Drucker Alignment and Validation: Strategy is a Hypothesis! Lack of a common language; the budget is a poor tool to enforce alignment Metrics: Too many metrics, conflicting metrics, metrics and incentives do not reinforce corporate objectives Forward Looking: You cannot change the past it is history -- and not necessarily a good predictor of the future. Not understanding future potential impacts of risks results in lost opportunities.

7 : BEST PRACTICES First 85% - Transactional One Version of the Truth Financial, Operational, Cost, Human Resources Scorecards, Dashboards, KPI s Operational Planning Rolling Forecasts Top 15% - Transformative Integrated Business Planning Strategy Development (upfront) Cost and Profitability Scenario Planning Analytical Forecasting Risk Management Cross-Functional Coordination

8 EMERGING TRENDS IN RISK 1) Holistic Approach 2) Tick Box Integrated 3) Technology 4) KPIs Plus KRIs 5) Quantification 6) Interconnectivity 7) Forward Looking 8) Integration of ERM and EPM

9 1) HOLISTIC APPROACH Move from current siloed approach Risk Factor A Risk Factor B Risk Factor C Risk Factor XXX Risk A Risk B Risk C Risk XXX Impact A Impact B Impact C Impact XXX to a holistic approach. Risk Factors Risk A Risk B Risk C Risk XXX Risk exposure

10 2) TICK BOX TO INTEGRATION

11 WHAT WAS NO LONGER NEEDS TO BE! Drowning in data but starving for information

12 3) TECHNOLOGIES SUPPORT METHODOLOGIES Its not about monitoring the dials on a dashboard.. Its about moving the dials!! Tools enable Objectives: Greater predictability Fewer surprises Link risk metrics (KRIs) and business strategy (KPIs) for alignment Interconnectivity Forward looking Execute and monitor Exploit risk for advantages

13 SAS ENTERPRISE GRC SOLUTION

14 SAS ENTERPRISE GRC SOLUTION COVERAGE

15 DATA + CONTEXT = BUSINESS INTELLIGENCE how the organization is measured and managed, *not* how the data is stored in a database

16 DATA + CONTEXT = BUSINESS INTELLIGENCE Context-relevant metrics

17 4) CHECKLIST for KPI S and KRI S Best practice manageable number (15-20 per manager): Rationalize for best metrics; not same measure X3 What if you re wrong? How will you find out? Quantified correlations Use the strongest 2 approaches: Strategy-driven or Context within each level Compromise: Layers, levels, functions Exec/Enterprise, Process, Operational/functional Progress, not just pass/fail Benchmarks, thresholds Incorporate external data Emphasis on leading versus lagging indicators Drivers and levers Moving the needle

18 5) ANALYTICS A RANGE OF CAPABILITIES What s the best that can happen? PROACTIVE What will happen next? What if these trends continue? Why is this happening? REACTIVE What actions are needed? Where exactly is the problem? How many, how often, where? What happened?

19 INTELLIGENT SCORE CARDING Custom-designed scorecards to fit your organizational goals From the corporate scorecard level to detailed operational metrics A library of hundreds of industry-specific KPI s Correlation analytics to ensure you are using the right metrics

20 6) INTERCONNECTIVITY: STRATEGY MAPPING Strategy starts with proper development, not with metric / KPIs Define Objectives and Initiatives Connect Objectives Internally and Externally

21 TEST AND VALIDATE THE CAUSAL RELATIONSHIPS Fully integrated correlation analytics Rationalize for best metrics; not same measure X3 Quantified correlations Use the strongest

22 CRA RISK INTERCONNECTIVITY MAP No risk is an island Extracting and interpreting information Risk Interconnectivity: Innovative Risk Management for Public Service Presented to the Enterprise Risk Management 2013 Conference (January 28, 2013) Brian Philbin and Valerie Bournival

23 7) FORWARD LOOKING What happened? SAS provides The Power to Know When did it happen? When should I react? How many? How often? Where? What opportunities am I missing? What will happen next? What if these trends continue? How do we do things better?

24 STRESS TESTING THE STRATEGIC PLAN What are the risk drivers in your organization s plan?

25 8) WHY INTEGRATE ENTERPRISE RISK AND ENTERPRISE Combining the disciplines of enterprise risk with performance management results in better decisions and actions. Why integrate ERM and EPM? Monitoring performance and risk as separate issues is not adequate for driving value. Stakeholders expect results that are in proportion to the risks that the organization if taking. This entails understanding how risk impacts strategic direction and decision making, as well as, processes such as planning, forecasting and financial analysis.

26 SYNERGIES OF RISK AND Management Processes: Identify Measure Assess Monitor Manage Control Infrastructure Requirements: Information Management Analytics Business Intelligence Workflow People Governance OBJECTIVES

27 WHERE ARE WE?

28 WHERE ARE WE?

29 WHERE ARE WE?

30 INTEGRATED IMPLEMENTATION Start with Strategy Where do you want to go? Are you tracking the right indicators to get there? What risks could be lurking behind each objective? Score risks in simple terms: Likelihood + or impact on Cost Quality / compliance Stakeholder satisfaction Strategy Brand / reputation Map out risk dependencies Prioritize which you will focus on Leverage technology to evolve the organization

31 KEYS TO EFFECTIVE RISK ADJUSTED STRATEGIC PERFOMANCE It all starts with understanding the strategy The Power to Know Holistic approach is best practice Understanding interconnectivity is key Knowing potential impacts of risk on future objectives improves both the quality of decision making and the timing of the decisions Forward looking analysis provides opportunities Transparency and communications

32 QUESTIONS?

33 THANK YOU WES GILL, P.ENG., CMA, MBA EXECUTIVE LEAD GOVERNANCE, RISK (ERM) AND COMPLIANCE

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