Decision-making Panel

ER ISO 31000 defines of risk as the effect of uncertainty in attaining objectives. This perspective drives the risk management profession into the field of decision making under uncertainty – a field that has been developed as a theory and science for over 200 years and that has become an applied field for the last 50 years. The session will introduce risk professionals to the fundamentals of applied decision science and explore the implications of the convergence of these fields.

Session Partners



Walter Smiechewicz | Managing Director | Governance, Risk, Internal Audit Leader | Pricewaterhouse
| USA | will talk about:
Decision Making Protocols -A Key to Successful Risk Management

  • How ERM, GRC and other risk based protocols need to clearly account for the human element and biases of decision making
  • Precise and competent decisions can only be made by persons with strength of experience in the matters to be decided
  • Events and emerging risks can quickly overtake organizations. Decision protocols must be able to respond within such a critical and fast changing environment
  • Small deviations from established decision making protocols may seem insignificant at the time but could set in motion events that veer off the strategically desired path
  • Good decision making leads to good risk management – a few checklist items.
Walter Smiechewicz
Walter Smiechewicz
John Fraser | Senior Vice President | Internal Audit and Chief Risk Officer | Hydro One | Canada | will talk about:Practical methods for implementing ISO 31000

  • How Hydro One has been using many of the ISO 31000 principles since 2000.
  • A new and practical way of determining and using risk attitude.
  • How to develop and use risk criteria for all types of risks.
  • Effective risk management is a culture change initiative
John Fraser
John Fraser
Jeffrey Posluns | Board member | GRCSI | Canada | will talk about:The multiple facets of risk-based decision making processes

  • Communicating key risk management concepts to decision makers.
  • Managing the risks associated to the decision making process.
  • The theories and practices associated with making enterprise risk based decisions
  • Dealing with fast changing scenarios and differing opinions
  • The life cycle of an ISO 31000 decision making process
Jeffrey Posluns
Jeffrey Posluns
Carl S Spetzler | CEO and Chairman | Strategic Decisions Group | will talk about: Decision-making, Risk Management and Uncertainty

  •  The way to apply the ISO 31000 definition of risk to protect and create value
  •  The Theory and Practice of Decision Making Under Uncertainty
  •  Embrace uncertainty, instead of eliminating risk
  • The Upside of Risk: A Better Way to View Enterprise Risk Management
Carl S Spetzler
Carl S Spetzler