Welcome to Risk Chats, AFERM’s podcast that focuses on Enterprise Risk Management (ERM) in the Federal space. Candid insights and perspectives from some of the U.S. Government’s most recognized Chief Risk Officers and Risk Management professionals.
Episode 26: The Costs and Benefits of ERM
On this episode, we chat with Vladimir Antikarov, Regional Director of the Professional Risk Managers’ International Association (PRMIA) for Washington, DC. We discuss how to calculate the costs and benefits of ERM using a real options approach adopted from the finance world. Vlad is the author of the book Real Options, A Practitioner’s Guide and other papers on the application of real options to ERM.
Episode 25: 10 Years of ERM
Today we speak with Dr. Karen Hardy from the Department of Commerce. Dr. Hardy, one of the pioneers of Federal ERM, provides us a retrospective of how we thought of Federal ERM 10 years ago, how things evolved over the last 10 years, and where we are today! Dr. Hardy is one of the founding members of AFERM and she has published several texts and research papers on Federal ERM.
Episode 24: Strategic Risk
Today, Paul chats with Tom Stanton about Strategic Risk. We discuss how Goldman Sachs utilized strategic risk management to navigate through the financial crisis several years back, lessons learned from the Malaysian Development Bank fiasco and why Federal risk managers should consider strategic risk in decision making.
Episode 23: ERM at the FDA
This week Tal and Paul catch up with Yashika Rahaman from the FDA at the AGA PDT in New Orleans. Yashika was there for a panel and took some time to record a podcast with us to discuss FDA’s ERM program!
Episode 22: AFERM Cybersecurity Community of Interest
Join Paul and Tal as we learn all about AFERM’s Cybersecurity COI from Nahla Ivy, Julie Chua and our AFERM President, Tom Brandt!
Episode 21: AFERM Small Agency Community of Practice
Join Tal and Paul as they speak with Valerie Lubrano about AFERM’s own Small Agency Community of Practice. We discuss the origins, purpose, membership and activities of the group!
Episode 20: National Risk Management
This week we speak with Sim Segal, author of National Risk Management: A Practical ERM Approach for Federal Governments. His paper lays out the benefits of a CRO and ERM program at the national government level — not just in the USA, but for any government around the world. Download the paper and listen to the show!
Episode 19: Risk Appetite at USAID
On this episode, Paul and Tal chat with USAID’s Reggie Mitchell, CFO, and Bill Steiger, Chief of Staff and Acting CRO. We go in depth on USAID’s excellent Risk Appetite Statement. Download the statement and follow along!
Episode 18: ERM at HUD
This week Tal and Paul chat with Larry Koskinen, CRO at HUD. Larry discuses data analytics, HUD’s nationwide risk managers, risk culture and incorporating ERM into strategy, budgeting and performance. Quote of the show: HUD does enterprise risk management, not enterprise list management!
Episode 17: Data Analytics for ERM
Join us as we speak with Bryan Jones, retired from the USPS OIG and current owner of Strategy First Analytics, about utilizing data analytics programs in conjunction with ERM. Bryan speaks about putting together a data analytics strategy, utilizing the tools agencies already have to make incremental progress and the importance of “decision” analytics.
Episode 16: Cybersecurity and ERM at Mecklenburg County
Join us as we speak with Sarah Lyburg, CFO of Mecklenburg County. We discuss a cyber incident that led to a rethink of how the county defended itself against cyber attacks and the importance of an ERM program.
Episode 15: ERM at NASA
This episode we chat with Frank Petersen, Cherisse Aquil and Larry Shaw at NASA about their unique risk culture and how they stood up their ERM program.
Episode 14: ERM at the VA
Join us as we chat with John Basso from the Veteran’s Administration about the VA’s ERM program and how it relates to planning, budgeting, performance, governance, strategy, portfolio analysis and data analytics!
Episode 13: ERM Book – Beyond the Basics
Today we speak with authors of the new book about Federal ERM entitled Public Sector Enterprise Risk Management: Advancing Beyond the Basics. Join us as we speak with Cynthia Vitters, Sean Vineyard and Ken Fletcher about the book, their chapters and chapters contributed by other authors in our Federal ERM community!
Episode 12: ERM at the HUD OIG
On this episode we check in with Jonelle Pianta, CRO at the HUD OIG, to discuss why the OIG decided to start their own ERM program, the unique challenges an OIG faces, audits of ERM programs and why your agency’s OIG may want to consider setting up its own ERM program. Thanks to AGA this week for the use of the AGA podcast studio!
Episode 11: GAO’s High-Risk List
Join us as we chat with Don Kettl, author of Managing Risk, Improving Results: Lessons for Improving Government Management from GAO’s High-Risk List. We discuss the history of the list, root causes and “root solutions,” strategies to stay off the list, and how this is all relevant to your ERM efforts!
> Read the report
Episode 10: ERM at King County
On this episode, we chat with Jennifer Hills from King County’s ERM program. Learn about the innovative approach King County has implemented to take calculated risks for the benefit of the government’s mission! This episode provides a great example of ERM implemented at the state and local level.
Episode 9: ERM at Ginnie Mae
This episode, Paul and Tal speak with Jason Leecost at Ginnie Mae about their ERM program, including risk profiles, risk taxonomy and a unique approach to risk appetite.
Episode 8: ERM at CNCS
On this episode we speak with Lori Giblin, Chief Risk Officer at the Corporation for National and Community Service, about their ERM and internal controls programs.
Episode 7: ERM at USDA RD
Today we speak with Jacki Ponti-Lazaruk, Chief Risk Officer at USDA Rural Development. The focus of the podcast is the importance of communication to a successful ERM program.
Episode 6: ERM at NIH
This week Paul chats with Meredith Stein from the NIH. They discuss NIH’s Risk Champions, how they put together their risk profile, education and training, and many more topics!
Episode 5: ERM at PBGC
On this episode, Paul chats with Nicole Puri, Risk Management Officer at the Pension Benefit Guaranty Corporation, about the importance of an independent role for a CRO, how to demonstrate the value of ERM to agency stakeholders and the interaction between the CRO and Inspector General.
Episode 4: ERM at the U.S. Coast Guard
Today Paul and Tal chat with the Deputy CFO and CRO of the Coast Guard, Craig Bennett. We talk about Black Swans and how the Coast Guard prioritizes its mission and mission support risks.
Episode 3: RIMS-CRMP-Fed Micro-Credential
On this episode, we talk to Todd Grams and Cynthia Vitters about the RIMS-CRMP-Fed Micro-Credential. What is it? What are the benefits of obtaining it? Is there a prep course? Learn all this and more, then use these links for registration & study materials:
Episode 2: ERM at HUD Public and Indian Housing
On this episode, we speak with Wendell Conner from HUD PIH about the journey to gain acceptance of the ERM program, the importance of incorporating operational risks into the register (especially gaining stakeholder buy-in!) and how ERM can add real value to an organization.
Episode 1: ERM at the IRS
On our inaugural episode, we chat with the IRS’ Chief Risk Officer, Tom Brandt. We discuss one of the most mature ERM programs in the Federal government, establishing the credibility of the program amongst senior leadership, gaining buy-in and some of the IRS’ unique risk and challenges.