Case Study: Aligning Risk Perception at Global Finance Group (GFG)
Global Finance Group (GFG) overcame inconsistent risk perception and resource misallocation by empowering risk owners and champions, standardising risk criteria, and leveraging technology. This alignment led to improved decision-making, optimal resource allocation, and a stronger risk culture, reducing project delays and preventing costly incidents across the multinational organisation.
The Silent Consensus: How Groupthink Undermines Risk Assessment
Groupthink undermines risk management by fostering premature consensus, suppressing dissent, and distorting risk assessments and treatments. This article explores its psychological roots, real-world impacts, and offers practical strategies-structural, cultural, and technological-for risk professionals to mitigate groupthink, promote critical thinking, and enhance organisational decision-making resilience
Zero Trust Frameworks: A Strategic Imperative for Managing Evolving Cyber Threats
Zero Trust is a modern cybersecurity framework that eliminates implicit trust, requiring continuous verification for every user and device. For risk professionals, it reduces attack surfaces, limits breach impacts, and enhances compliance, making it essential for managing evolving cyber risks in decentralised, cloud-driven, and hybrid work environments.
Case Study: Zero Trust Implementation in a Corporate Bank
A corporate bank adopted Zero Trust to address rising cyber threats and regulatory demands. By implementing multi-factor authentication, microsegmentation, and continuous monitoring, the bank reduced attack surfaces, improved incident response, and enhanced compliance, overcoming challenges with legacy systems and user resistance to achieve greater security and operational resilience.
Mapping the Future: How Risk Professionals Use Forecasting and Backcasting to Shape Organisational Strategy
Forecasting and backcasting are essential scenario analysis tools for risk professionals. Forecasting projects future risks from current trends, while backcasting starts with a desired future and maps steps to achieve it. Integrating both methods enhances strategic planning, resilience, and proactive risk management in uncertain, complex environments.
Prescriptive and Predictive Analytics: Redefining Risk Management in the Digital Age
Predictive and prescriptive analytics are transforming risk management by enabling organisations to forecast threats and recommend optimal actions. Integrating these tools enhances decision-making, reduces losses, and improves compliance. Success depends on data quality, ethical governance, and a culture that embraces analytics-driven, proactive risk strategies in an evolving landscape.
Bridging Silos, Building Resilience: The Evolution of Combined Assurance
Combined assurance integrates internal and external assurance efforts, providing a holistic, efficient, and agile approach to risk management in today’s volatile, uncertain, complex, and ambiguous (VUCA) and brittle, anxious, non-linear, incomprehensible (BANI) world. It enhances governance, stakeholder confidence, and organisational resilience, enabling informed decision-making and regulatory compliance.
State of Trust Report – 2024
Trust is critical to the success of every business. But building, scaling, and demonstrating trust is getting harder for organizations. To meet customer expectations, security leaders and their teams must address complex threats, a growing compliance burden, and increasing risk from their third party vendor footprint. The rapid adoption of AI technologies only adds to the challenge, requiring more oversight and governance.
Risk science offers an integrated approach to resilience
Why do we hear calls to separate and independently manage aspects of risk and resilience that are inherently related? These
arguments are inconsistent with more holistic and integrated responses to wicked challenges—such as climate change—that
are necessary if we are to find balances and synergies. The justification of such views is based on misconceptions of risk science that are no longer accurate. Rather than being irrelevant, the risk concept and related literature provide a wealth of resilience analysis resources that are potentially being overlooked. In this Perspective, we discuss how the modern view of risk can provide an integrated framework for the key aspects of resilience.
Dynamic digital capabilities and supply chain resilience: The role of government effectiveness
Organizations in recent times are increasingly investing in building supply chain resilience following disruptions due to natural disasters, geo-political crises, and pandemics. A lack of government support has exacerbated the disruption to supply chains in some regions of the world. The positive influence of digitalization on social inclusion, government accountability, and creating a more open environment is well understood. Despite this, different countries have shown varying degrees of digital responsiveness during the pandemic as they attempted to deal with the effects of various COVID strains.