The Office of the United Nations High Commissioner for Refugees (UNHCR) held its 75th Executive Committee session from 14 October to 18 October 2024. Among many items on the agenda, the increasing commitment to risk management strategies adopted by the organisation was highlighted both in the opening statements by the High Commissioner and remarks by the Deputy High Commissioner for Protection. These references reiterated the ongoing commitment of the UNHCR to transforming its structure and conduct to have a stronger focus on region-specific, field-dominated concerns and managing risks on the ground more effectively. Reference to risk management by international organisations is not rare in the form of adoption of “enterprise risk management” strategies. Enterprise risk management (ERM) is a holistic risk management agenda that systematically analyses risks that could arise in the operations of international organisations, identifies potential damage and harms that might be faced by the organisation as a result, and creates a particular “risk appetite” which creates a space of operation whereby it is strategically advantageous or tolerable for the organisation to operate. While ERM is a holistic concept, encompassing multiple forms of risk, the international organisations’ literature mainly emphasises financial, operational, or political risks and demonstrates how the introduction of risk management strategies could potentially reshape organisational decision-making, where international organisations are moving away from operating with the clear boundaries set by the legal mandate of the organisation, to adopt more flexible, and potentially expansive operational spaces that are dynamically set by the potential risk appetite, and risk calculation for a particular domain. Hence, the proliferation of risk management strategies could potentially replace the delimitation of the international organisation’s functions by its legal mandate with risk calculations and make the organisation more prone to taking risks potentially engaging in conduct that is conventionally beyond its mandate.
Risk
PERILS with CRESTA CLIX to simplify reporting for cat bond & ILW risk transfer: CEO – Go Health Pro
Last year, catastrophe data aggregator and industry loss estimate provider PERILS revealed an extension to its services, with a new methodology that combines its standard data methodology with that of CRESTA CLIX, which the firm’s CEO Christoph Oehy has said will simplify the process for risk transfer use-cases including catastrophe bonds and ILW’s.Back in November, … Read more
At Risk of Capture? – Verfassungsblog – Go Health Pro
Tug-of-War over Appointments to the Italian Constitutional Court The term of the Italian constitutional judge Silvana Sciarra ended on November 11, 2023. Since then, the Italian Constitutional Court has consisted of only 14 judges instead of the 15 required by Article 135 of the Constitution. On December 21st, the mandates of three other judges will … Read more
Weekend reading: Managing the less obvious risk in a 60/40 portfolio – Go Health Pro
What caught my eye this week. Was there ever a rationale way for investors with a 60/40-style equity/bond portfolio to avoid the worst of the government bond rout of 2022? It’s a question that still bothers me. As a writer and an investing blog owner, mind you, not on my own account. I didn’t own … Read more
PDQ Deploy users warned of credential-theft risk – Go Health Pro
The CERT Coordination Center (CERT/CC) published a vulnerability note regarding the risk of admin credential theft for users of PDQ Deploy. PDQ Deploy is a service that enables system administrators to deploy software and updates to machines within their network. The CERT/CC notice, published Wednesday, describes how admin credentials used by PDQ Deploy to install … Read more
