Stay Abreast of Unpublished Industry Thinking

For the company with a strong risk function in place, the ability to have a detailed dialog with their peers is invaluable. Industry leaders want to validate their own perspectives on addressing the broad challenges faced by an ERM function. They do this by comparing and contrasting the non-competitive, professional practice issues of risk with other companies – both comparable and very different from themselves. In this way, they gain confidence that they’ve recognized any gaps they may have and have considered alternative approaches. For the company trying to develop a new Enterprise Risk function (or parts of one) – the ability to learn about all aspects of organizing and implementing such function, and grow with the best in the industry - makes joining the CCRO a ‘no-brainer’. Many find they can deploy the help of a consultant much more cost-effectively after they first - through CCRO membership - gain an understanding of all the issues at hand and where their company’s strengths & weaknesses lie.

Deploy Best Practices

For both those just starting ERM and the more advanced, it is essential to know that the methods you deploy are “on-track” to being practical, valuable to your management, and credible to outside stakeholders. The risk measurement/management/control approaches developed and documented by CCRO members are today, more than ever, widely accepted as “best practice”. Energy companies, rating agencies, and regulators like to see CCRO documents supporting your approach. Working towards best practices essentially assures that your efforts in managing, measuring and reporting risk are not headed down a dead-end. Through membership, one gains the practical knowledge of how to implement and maintain CCRO best practices.

Codify Your Approaches

For some, the CCRO is a platform for codifying and advancing your own practices that others are likely to see as beneficial and adopt. Your risk practices are always far more credible and valuable to outsiders and to your management if others follow your approach and can be in some way ‘benchmarked’. This was much of the driving force for the CCRO’s earliest work.

Bring Your Issue To Bear

Some leverage their CCRO membership to bring their risk or market issue to the attention of the industry. The CCRO addresses any issues which members feel the CCRO can best apply itself. These issues are raised within our monthly meetings primarily by members themselves.

Share Experiences With Peers

Because our financial practices are not commercially sensitive/competitive in nature, members can share their successes/failures in trying to address common risk-related problems. This is one reason the atmosphere in the CCRO is very collegial and enjoyable. The CCRO with its working-group method of getting things done is ideal for developing dialogue with your peers on these professional practice issues.

Access All Past CCRO Work

As a member of the CCRO all of our white papers in both PDF and MS Word format are available for anyone in your company. In addition, we have some risk models available only for member use. Our internet portal system gives you access to all member contacts and our papers without any need to contact the CCRO staff. The portal allows you to see our calendar showing all working group conference calls and meetings with detailed web interactive links provided. You may join any working group you like directly through the portal as well.

Attend CCRO Meetings

Members are invited to all of our ten monthly meetings each year. Meetings are located most often in Houston or DC, with occasional meetings being hosted at member offices to add some interesting variety. Depending on their calendar, most members try to make it to five of our meetings each year. Meeting attendance & participation is voluntary of course, but it is the best way to get to know other members given the various activities we try to have at each.

Training for members

Starting in 2006, we plan to offer free, in-person, case-study based training classes for CCRO member staff, and another set of classes for member company Board of Directors. At this point in time, we are developing the class frameworks, which are centered on practical teaching of implementation of CCRO white paper recommendations.

CCRO is a company membership organization, so all parts of your company are encouraged to participate.