Palladium Execution Premium Community™ (XPC) Launches Risk360

Oct. 27, 2010 - PRLog -- BOSTON, MA – October 27, 2010 – Palladium Group, Inc., the global leader in helping organizations execute their strategies, announced today the creation of the Risk360 program within the Palladium Execution Premium Community™ (XPC). Risk360 provides risk management professionals with access to critical information and peer-to-peer networking. The Palladium XPC is an online community of strategy execution practitioners that facilitates 24/7 peer networking, discussion forums, best-practice sharing, benchmarking data, a solutions center, and an ask-the-expert capability.

The global financial crisis clearly demonstrated the need to anticipate and respond quickly to emerging risks. Current risk monitoring approaches, however, are often inadequate due to model limitations and institutional biases. In response, Risk360 was created to provide ongoing support to risk professionals and the sharing of enterprise risk management (ERM) best practices.

Risk360 is managed by James Lam, one of the world’s leading experts on risk, former chief risk officer for Fidelity Investments, and author of “Enterprise Risk Management: From Incentives to Controls.” He is the president of James Lam & Associates. “The partnership between Palladium Group and James Lam & Associates provides members with access to best practices in both strategy execution and risk management,” says Lam. “Risk360 leverages the power of social media to establish a focused online community that will help senior risk professionals achieve their ERM implementation goals.”

Risk360 offers direct access to:
•  Peer-to-peer sharing of risk management best practices and benchmarking         information that assures members of the latest and most effective approaches to ERM
•  A members-only collection of prototypes and examples of ERM tools such as risk assessments, key risk indicators, and risk dashboard reports
•  A resource center containing articles, cases, and useful examples of risk strategies and key risk metrics that will assist with risk policy development and board reporting
•  Networking opportunities with our senior risk professionals that will help build key relationships and develop professional opportunities
•  1:1 counsel from James Lam and other Palladium strategy execution professionals to help tailor insights and practices to members’ individual needs

One example of a best practice is an Office of Strategy Management to integrate several different strategy management processes. A major manufacturer created a combined office of strategy and risk management that is responsible for monitoring strategy and evaluating risk factors and risk mitigation plans. The office uses a risk “register” to identify operational and market factors that can interfere with achieving strategic objectives. Risk mitigation initiatives are used to reduce or eliminate risk factors.

“Risk360, powered by James Lam's risk expertise and Palladium's infrastructure and methodology, is off to a great start,” says Judie Leach Bennett, executive director, legal and risk management, Canadian Blood Services. “I look forward to further collaboration with other community members who are implementing and improving risk management programs in organizations with a strong strategy focus.” Charter members of Risk360 include the Federal Home Loan Bank of Cincinnati, AEI Services, Canadian Blood Services, BMT Group, and Arch Coal, Inc.

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Palladium Group is the global leader in helping organization execute their strategies. Our expertise in strategy management, performance management, and business intelligence helps our clients achieve an execution premium. Our services include management consulting, technology implementation, executive conferences, certification, and online communities. The Palladium Balanced Scorecard Hall of Fame for Executing Strategy®, with a growing roster of more than 130 members, recognizes organizations worldwide that have achieved outstanding execution premiums. Visit www.thepalladiumgroup.com.