Riding the Economic Rollercoaster: Risk Management in Turbulent Times
Amidst economic turbulence, risk managers navigate a financial minefield. With soaring inflation and yo-yoing interest rates, the game has changed. Embracing AI, scenario planning, and diversification is crucial. Enterprise Risk Management offers a holistic view, whilst strong cash management prepares for potential monsoons. Adaptability is key in this thrilling rollercoaster ride.
The Ripple Effect: Mastering the Art of Third-Party Risk Management
In today's interconnected business world, Third-Party Risk Management (TPRM) is crucial. With 87% of companies facing third-party incidents, a robust TPRM strategy is essential. From clear roadmaps to AI-driven assessments, organisations must cultivate resilient partnerships. It's not just about managing risks; it's about creating a competitive edge in an ever-evolving landscape.
AI Unleashed: The Ethical Tightrope of Risk Management
AI's rapid rise presents a daunting ethical tightrope for risk managers. Beyond cybersecurity, they now grapple with algorithmic bias, accountability, and societal impact. Comprehensive frameworks and cross-functional collaboration are crucial. As AI reshapes our world, risk professionals must balance innovation with ethical governance, ensuring AI remains a force for positive change.
Operational Resilience: The New Business Imperative
Amidst a sea of uncertainty, operational resilience emerges as the lighthouse guiding businesses to success. It's not just about surviving; it's about thriving amidst chaos. By fostering a culture of adaptability, implementing robust risk management strategies, and embracing improvisation, organisations can weather any storm. The future belongs to those who master this delicate balance of strength and flexibility.
Riding the AI Wave: Empowering Your Workforce for Tomorrow’s Challenges
Riding the AI wave: A clarion call for workforce empowerment. As AI reshapes industries, organisations must act swiftly to upskill their teams. From AT&T's billion-dollar investment to innovative 'learning in the flow of work' strategies, companies are fostering cultures of continuous learning. The future belongs to those who embrace AI as a catalyst for human potential.
Risk Management: From Yawn to Yay! How Theory of Change Became the Life of the Boardroom
This blog post shows how Theory of Change and digital tools like TOCO and Changeroo make risk management engaging and collaborative. By visualising strategies, involving stakeholders, and keeping things creative, risk professionals can transform traditional processes into dynamic, effective, and even fun approaches to managing uncertainty
Environmental Scanning: Your Secret Weapon for Navigating Uncertainty
Environmental scanning is a strategic process that empowers risk professionals to anticipate risks and uncover opportunities by analysing internal and external factors. It enhances decision-making, fosters organisational agility, and ensures resilience in dynamic markets. Netflix’s transformation exemplifies its power, making it an indispensable tool for navigating uncertainty and driving sustainable success.
When Risk Maps become Risk Traps
Let us step back and consider the process of collecting risk information for the purpose of communicating to senior management and the Board about the most important threats to their organization (that they may or may not be currently aware of) with sufficient credibility to cause them to sponsor further action.
Risk Appetite and Risk Tolerance
George Bernhard Shaw has been quoted to state that “The English and Americas are two fine people, separated by a shared language”. It appears the drive to increase confusion has not stopped yet. Personally, having English as my second language, I mentally like the ISO vocabulary better than the COSO – but I can easily live with either. So:
Dear ISO and COSO organisations. Get together and agree on terminology.
Leverage your ERM as a powerful Decision Tool
Many companies and organisations have an Enterprise Risk Management (ERM) program where they identify, evaluate and decide on action to take on key risks to the company/organisation. For some this is a very systematic and well documented approach using scientific methodologies etc. – for others it is a collection of managerial perceptions. In most all process, some decisions are taken, and the organisation believes it executes well on ERM.