Organizations always hope for sunny skies and calm seas when  conducting business. No one wants to be unpleasantly surprised nor exposed to rough weather, especially if such weather causes a  person or an organizations' reputation, financial well being or its very existence to be threatened. However, in the past decade, due to many well publicized scandals involving companies, officers and directors, the study and implementation of risk management has become popular. People are discussing risk management more than ever. (more…)

The other day I was caught in a sudden downpour. It was raining harder in Seoul than I’ve seen it rain in a long time.  It was if the rain was washing away all the dirt and grime, a real spring cleaning.  Looking at the rain it reminded me that sometimes we need to wash our risk management processes to.  Or at least re-examine them. (more…)

As 2015 winds down, everyone starts to think about 2016.  They make grandiose plans that perhaps they cannot keep or are simply to agressive in their planning.  Managing risks, like many other business processes takes planning and careful consideration. (more…)

Reputational risk or the risk of damage to a company’s brand is of course very important these days.  It is of primary importance to executives and risk managers in many multinational companies and is seen as one of the top risks a company may face.  In fact, in Aon’s Global Risk Management Survey 2015, of the top ten risks that are of concern to companies, damage to reputation/brand is listed as number one.  (more…)

Law firms and other service oriented organizations are just beginning to realize that risk management concepts apply to them as well as manufacturing based organizations.  Lately, consultants are advising law firms to implement project control methods, look at legal processes from a six sigma point of view and even apply the basics of marketing 101 or sales 101 to increase business from potential clients.  (more…)

 The Impact of Korea’s New Anti –Corrution Laws On Internal Investigations

Korean companies are now faced with issues that they have not had to deal with before- namely anti-corruption domestic laws ( the  Kim Young-Ran Act or the “Act”) that provides criminal penalties for bribery, vicarious liability extending criminal penalties not only to the employee but the  employer as well and expanding bribes to also include the exchange of monetary interest without a duty relation component.  This puts Korean companies in a difficult position domestically as not only do Korean companies have to worry about prosecution under the new Act, but they also should worry about how this relates to the FCPA and UK Anti-Bribery Act.  (more…)