Mais conteúdo relacionado The Tao (道)[Way] of ERM and its relevance to Singapore Pools (Pte) Ltd1. CONFIDENTIAL
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The Tao (道) [Way] of ERM
and its relevance to
Singapore Pools (Pte) Ltd
Prepared by ERM Office
Dec 2017
2. CONFIDENTIAL
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阳
阴
The concept of Yin (阴)and Yang (阳) originates from
ancient Chinese *metaphysics, which describes two primal
opposing but complementary forces found in all things in the
universe.
The earliest Chinese characters for yin and yang are found in
inscriptions made on “oracle bones” (skeletal remains of
various animals used in ancient Chinese divination practices at
least as early as the 14th century BC, Shang dynasty 商朝 [2nd
dynasty of china]. The first being Xia dynasty 夏朝.
1. Yin and Yang are interdependent.
2. Yin and Yang are opposites.
3. Yin and Yang are harmonious when they are in balance.
4. Yin has the seed of Yang in it, and Yang has the seed of Yin in it.
*Metaphysics is a branch of philosophy exploring the fundamental questions, including the nature of concepts like being, existence and reality.
The Tao (道) [Way] of ERM
Background
3. CONFIDENTIAL
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The “Yang” 阳
[Chinese philosophy]
positive/active/male
principle in nature
The “Yin” 阴
[Chinese philosophy]
negative/passive/female
principle in nature
阳
阴
The Tao (道) [Way] of ERM
The skills and knowledge of ERM can be
acquired through training, exposure and
with the right attitude. The processes are
consistent, systematic and predictable.
People are generally negative towards ERM. It
will take time and trust to get stakeholders’
buy-ins. The relationships are complex, fluid
and unpredictable.
4. CONFIDENTIAL
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The Five Element (五行) theory is the backbone of all Chinese Metaphysics. It is believed that all matters as
well as the sentient beings in our universe are composed by a blend of the Five Elements
The Tao (道) [Way] of ERM
Background
5. CONFIDENTIAL
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Element Properties Roles in SPPL
Earth (土)
1. Attractive 2. Dense 3.Stable
(thoughtful but when out of balance these thoughts can become obsessive and intrusive
and can cause them to worry unnecessarily.)
Risk Owner
Metal (金)
1. Sharp 2. Pointing 3. Piercing
(Perfectionists and detail orientated.)
CRO
Water (水)
1. Runs downhill 2. Free/unbound
(Have a strong will and get things done. Achieve aims by determining the best path
through a situation.)
Senior Management
Wood (木)
1. Grows outwards 2. Enduring
(a strong sense of purpose but can become driven and stressed when out of balance)
ERM Office
Fire (火)
1. Spreads in every direction 2. Radiates
(energetic, passionate and dramatic)
Risk Champion
The Tao (道) [Way] of ERM
7. CONFIDENTIAL
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Generate interaction
Wood fuels fire
[Close collaboration
between ERM Office and
Risk Champions]
Fire forms Earth
[Inputs and risk assessment need to
come from the Risk Champions before
decision and endorsements can be made
by Risk Owners]
Earth contains Metal
[CRO is also one of the Risk Owners for
Risk & Legal Division]
Metal carries Water
[CRO is responsible in reporting the
progress, status of risk management
activities and advisory to the Senior
Management to aid them in making
right decisions with regard to SPPL’s ERM
strategy. ]
Water feeds wood
[The existence of ERM Office is a decision and
mandate by the Senior Management. Headed
by the CRO, the office is a facilitator of all risk
management activities within SPPL.]
The Tao (道) [Way] of ERM
8. CONFIDENTIAL
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Overcome interaction
Fire melts metal
[Info such as the status of how well risks are
being mitigated, effectiveness of controls
and status of those action plans have to
come from the Risk Champions so that CRO
is able to report to the Senior Management]
Wood separates Earth
[ERM Office collaborates closely with Risk
Champions in all risk management activities.
Nonetheless, the office itself will seek
guidance and clearance from CRO before
any engagements are to be made with the
Risk Owner.]
Earth absorbs water
[Risk Owners are ultimately the domain
experts in their own areas. They are in the
best position, together with CRO to accept
or reject any initiatives that may be deemed
unrealistic or impractical to implement ]
Metal penetrates wood
[Well, ERM Office is headed by CRO.
Enough said]
Water quenches fire
[Senior Management represents “tone from the
top”. Although they provide overall oversight on
ERM activities in SPPL, they also shape its
direction and initiatives. Risk Champions from all
the divisions are instrumental in ensuring that the
objectives are met, as far as their own division is
concern. Champion is more than just an accolade.
They help to make things happen! ]
The Tao (道) [Way] of ERM
9. CONFIDENTIAL
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This sums up the yin and yang and the 5
elements within Singapore Pools (Pte) Ltd
The Tao (道) [Way] of ERM