General Risk – IRMSA

The Art and Science of Risk Management: A Delicate Balance

Risk management is both an exact science and a creative art, requiring a delicate balance of analytical precision and intuitive judgement. This article explores how combining data-driven methodologies with experiential insights empowers organisations to navigate uncertainty, mitigate threats, and seize opportunities. Discover the best practices for mastering this dual approach.

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The Changing Face of Risk Management in 2025

In the high-stakes arena of risk management, 2025 emerges as a technological battleground where artificial intelligence, climate challenges, and global uncertainties collide. Discover how cutting-edge professionals are reshaping organisational resilience, transforming potential threats into strategic opportunities through innovative risk management approaches.

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The Psychology of Risk: Unravelling the Human Response to Uncertainty

Imagine a world where your gut feeling could save your life—or lead you astray. Welcome to the fascinating realm of risk psychology. This article delves into the intricate web of factors shaping our perception of danger, from cognitive biases to cultural influences. Discover how understanding these elements can revolutionise risk management and decision-making in an uncertain world.

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The relationship between Enterprise Risk Management and Managerial Judgement in Decision-making: A Systematic Literature Review

Enterprise risk management (ERM) promises to improve decision-making and help organizations avoid wicked problems. Consequently, risk artefacts may play a significant role in managers’ decision-making processes, but little is known about the relationship between ERM and managerial judgement in decision-making (MJDM). The purpose of this paper is to present a systematic literature review of ERM, thereby filling this knowledge gap and providing an evidence based foundation for improving practice and advancing knowledge and theory development.

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Navigating Risk in the Modern Business Landscape: Strategies and Insights for Enterprise Risk Management Implementation

As businesses actively seek ways to safeguard their valuable data and resources, efficient defense techniques are paramount. The surge in cyber threats, driven by malicious attacks and cybercrime fueled by internet technology and mobile apps, emphasizes the urgency for comprehensive risk management strategies. Effective risk management strategies have become indispensable for competitive businesses. ERM entangles determining, evaluating, and thwarting potential hazards that endanger business objectives.

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Enterprise Risk Management and Business Strategy on Firm Performance: The role of Mediating Competitive Advantage

This research aims to know and analyze the contribution of enterprise risk management and business strategy to the competitive advantage and company performance of shipping companies
listed on the Indonesia Stock Exchange........

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Risk Committee’s Influence on Enterprise Risk Management

Risk is real and it is particularly very serious in the case of managing banks in Nigeria because of several reasons; including the fact that it is an emerging economy. It can affect a bank’s
bottom-line to say the least and even its survival. It is in view of this that this article links risk committee effectiveness with risk management by banks in Nigeria. Using 130 observations (13 banks, 10 years) for 2012-2021, we employ a correlational research design to develop a panel model linking risk committee characteristics with risk management......

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Exploring the Indirect Links between Enterprise Risk Management and the Financial Performance of SMEs

This paper responds to the lack of empirical evidence on how enterprise risk management (ERM) and the financial performance of small and medium-sized enterprises (SMEs) are related. Structural equation modeling is used to explore new
mediators in the relationship between ERM and SME financial performance. The
results show that organizational culture (mission dimension) and strategic risk management performance are full and positive mediators between ERM and financial performance......

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McKinsey on Risk & Resilience: Managing Risks to achieve Resilience

Welcome to the latest issue of McKinsey on Risk & Resilience, now a subscription-based, quarterly publication featuring the latest trends, research, insights, and best practices related to financial and nonfinancial risks, and how to build and strengthen business resilience in an ever-evolving world.

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