Ncontracts' Founder And CEO Michael Berman Publishes New Book, The Upside of Risk
BRENTWOOD, Tenn., Sept. 8, 2021 /PRNewswire/ -- Ncontracts, the leading provider of integrated risk management and lending compliance solutions for the financial services industry, announced that Ncontracts' founder and CEO Michael Berman has published a new book, The Upside of Risk: Turning Complex Burdens into Strategic Advantages for Financial Institutions.
Building off research, historical examples, and the most current enterprise risk management framework, he discusses why good risk management is not about risk avoidance but rather risk awareness, which empowers financial institutions, mortgage companies and fintechs to be prepared, protected, and positioned for opportunities. The goal of risk management is not to eliminate risk—it is to understand it. In The Upside of Risk, Berman shows readers why risk management and strategic planning are inseparable.
"I am thrilled to make this book available and provide lessons learned from the financial crisis all the way through to the recent COVID-19 pandemic to ultimately help financial institutions and mortgage companies turn risk management into a strategic advantage," said Berman. "Outdated risk management is a serious challenge that many financial organizations face—and the worst part is they might not even realize it. The most successful financial organizations approach risk management with curiosity and an open mind, leveraging their discoveries to make smarter decisions that support long-term strategic goals."
Properly managing risk can have a tangible impact on a company's bottom line. In fact, according to a study published in The Journal of Risk and Insurance, companies with mature enterprise risk management programs are valued 25 percent more than their peers. Additionally, banks that embrace risk management are more resilient, according to research from the Federal Reserve Bank of St. Louis. This underscores the importance of having a strategic risk management framework in place.
Karl Nelson, CEO of KPN Consulting remarked, "This is the best and most descriptive view of enterprise risk management in print today. Make time to enjoy Michael's timely exploration of risk and risk management, and you will be well on your way to enhancing how you manage risk. More importantly, you will find new ways to ensure your own survival in the coming years."
Berman added, "The Upside of Risk should be helpful to anyone in the financial industry who wants to create value and build resilient institutions. Thank you to everyone who made this book possible. I look forward to the value it will offer."
The Upside of Risk is available on Amazon, in both soft cover and eBook formats. The book will also be available at the upcoming Ngage user conference, which will be held in Nashville, TN on September 28-29, 2021.
ABOUT
Michael Berman is the founder and CEO of Ncontracts, one of the fastest-growing risk management companies in the financial services industry. A risk management evangelist, he combines decades of legal and regulatory experience with an extensive background in business strategy to solve operational risk management challenges. He is an in-demand speaker, a frequent contributor to industry publications, and a graduate of Cornell University and the University of Tennessee College of Law.
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of almost 4,000 financial institutions and mortgage companies in the United States. The company's powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite that encompasses vendor risk, organizational risk, audit risk, and compliance risk management. The company has been named to the Inc. 5000 fastest-growing private companies in America for the 3rd consecutive year. For more information visit www.ncontracts.com or follow the company on LinkedIn and Twitter.
SOURCE Ncontracts
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article