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Home   Membership   Education   Events   Resources   External Affairs      May 13, 2014

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Are workplace politics destroying your business?
It's been a pop-culture trope and corporate stereotype for decades: The big-shot executives sit in meetings and make decisions that benefit them, while low-level workers are left to suffer the consequences. As someone who's held numerous executive leadership positions, entrepreneur David Frankel says this phenomenon boils down to one simple root cause: politics. Minimizing politics in a growing organization begins with its leadership, and the best way to accomplish this goal is to encourage transparency and collaboration among team members at all levels.
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Solvency II: It's the final countdown
The key objectives of Solvency II are improved consumer protection, modernized supervision and greater harmonization of European supervisory regimes. But with so much variation in terms of capitalization and sophistication of financial services markets across Europe, the much quoted "level playing field" does not look like it is going to happen. However, there is certainly hope there will be a raising of standards in weaker countries, and in some cases this will come as part of the required preparation work.
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Study finds CISO appointment, business continuity shrinks breach costs
SC Magazine
By appointing a CISO, breached organizations stand to fare better in their response efforts, lessening their costs by $10 per compromised record, an annual study found. The "2014 Cost of Data Breach Study: United States" offers insight on management efforts which can improve incident response at companies. The ninth annual study polled 61 U.S. companies across 16 industries, after firms experienced "the loss or theft of protected personal data and then had to notify breach victims as required by various laws," the report said.
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See related story: How to ensure business continuity in cloud environments (Business 2 Community)

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In an effort to enhance the overall content of RiskWire, we'd like to include peer-written articles in future editions. As a member of RIMS, your knowledge and experience in the industry can be of great help to your fellow members. And we're hoping you'll share this expertise with your peers through well-written commentary. Because of the digital format, there's no word or graphical limit, and our group of talented editors can help with final edits. If you're interested in participating, please contact Ronnie Richard to discuss logistics.
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Missed last week's issue? See which articles your colleagues read most.

    The status quo is risky, too (Harvard Business Review)
Pension funds and catastrophe bonds: What could possibly go wrong?
(Bloomberg Businessweek)
Talent — a risk management essential (American Banking Journal)
Marsh-Rims report: Risk management function more influential in
strategic planning; still under-utilized
(The Wall Street Journal)

Don't be left behind. Click here to see what else you missed.

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Poor Asian transportation disaster response could impact US aviation business
The Hill
As President Barack Obama continues his strategic "Pivot to Asia," away from the Middle East, we must include in that pivot a demand that countries and companies doing business in the region embrace a more thoughtful emergency response that mirrors the openness and best practices standards of the Western world. Specifically, we must ensure that extensive and detailed family assistance plans are proactively in place prior to a major transportation disaster.
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Thornton: Majority of businesses still reluctant to outsource
Zee News
About 60 percent of businesses around the world have no immediate plans to outsource work, an option that has raised concerns about destroying domestic jobs, a report says. A survey by Grant Thornton International Business Report shows that the majority of business leaders globally have no plans to outsource in the near future as they are worried about losing control of a key process. Obstacles to outsourcing include unwillingness to lose control of a key process, cited by 44 percent of respondents opposed to off-shoring of work, followed by the high cost of implementation (32 percent), while 27 percent believe it is too complex or risky to contract out services.
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  Experienced Insurance Counsel
MMM is a full service law firm with a strong national presence in insurance, corporate and regulatory matters. Our attorneys are experienced in all matters related to the industry from the creation of insurance companies and captives to liquidation of entities. We also represent an array of insurers/reinsurers in complex litigation and arbitration matters.

Risk management using momentum
Seeking Alpha
While momentum is not an automatic inoculation against portfolio risk, it goes a long way toward preventing one getting caught in a three-sigma downside Black Swan event. What risks are we talking about as there are many types at work within a portfolio?

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Help wanted: 3 ways to minimize new-hire risk
By Catherine Iste
Today's Labor Department numbers show unemployment in the U.S. falling to 6.3 percent — the lowest figure since September 2008. But with each new hire comes threats to the organization's integrity.

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Breastfeeding in the workplace
Inside Counsel
When an employee returns to work after giving birth, the employer must be mindful of the employee's rights to breastfeed or express breast milk in the workplace.

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Worldwide, employers are cracking down on employees’ social media use
HR Morning
The National Labor Relations Board may be cracking down on companies trying to control employees' use of social media, but companies across the globe are taking steps to tighten standards on what workers should be allowed to say on the Internet. More than 70 percent of employers participating in a recent Proskauer survey said they'd taken disciplinary action against employees for misuse of social media — double the number that said they’d done so in 2012.
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Is win-win negotiation becoming a reality?
Business is finally coming to the realization that we need to adopt a more positive approach to contract negotiation. That is the encouraging news emerging from IACCM's review of market trends in 2013. Over the last year, the approach to negotiation has started to change, with a growing number of executives pushing for a more collaborative or partnering approach to their supply relationships. Negotiation has, for decades, been viewed as a zero-sum game, with the success for one party being at the expense of the other. A variety of factors are driving the shift away from this mentality, but the important point is that negotiators are focusing more on the performance and governance criteria that drive positive results and outcomes.
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2 new emerging market ETFs to write home about
You don't see a lot of exciting innovation in the ETF world anymore. The 1,580 existing exchange-traded funds seem to track everything under the sun. But issuers have launched a raft of intriguing new ETFs in the past few weeks. Two that stand out: a long-needed China fund and an ETF that offers a lower-risk way to invest in emerging markets overall. The following is a look at what they have to offer.
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Which suppliers present the greatest financial risk?
Supply Chain Digest
Do you know which suppliers really present the greatest risk to your supply chain — in financial terms? In early 2012, Dr. David Simchi-Levi of MIT and now his own consulting firm opsRules released for the first time his new approach to quantifying risk management — what he calls the Risk Exposure Index. In great summary, the REI involves calculating a "time-to-recovery" for each node in the supply chain in the event of a major supply chain disruption, and then a resulting "financial impact" until that TTR is achieved. It is a major breakthrough in supply chain risk management thinking, because it provides a framework to truly quantify the analysis.
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