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.
Managing Legal Risks
The other day, I had a chat with a risk management consulting colleague who was working with and focusing on legal risks. He had trouble doing this well as he found that people with a legal background:
• Have limited or no insights into statistics
• Rarely, if ever, work with a spreadsheet
• Find it hard to quantify risks and opportunities
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.
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.
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.
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.
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
Beyond the Rulebook: Reinventing Compliance in the Era of RegTech and Rapid Change
Regulatory demands are accelerating due to technological, environmental, and societal shifts. RegTech, powered by AI and blockchain, is transforming compliance from a burden into a strategic advantage. Organisations embracing these tools, alongside a culture of compliance, gain resilience, efficiency, and trust in an increasingly complex regulatory environment.
Making Risk Fun: How Mental Models Empower Executives (Yes, Really!)
This blog post explains how risk professionals can use mental models to make quantitative risk analysis engaging for executives. By turning complex probability data into relatable stories and visuals, risk becomes clearer and more strategic. The post features tips for risk teams—like using creative scenarios and gamifying workshops—to bridge the gap between analytical and intuitive decision-making. The goal: help leaders embrace risk information, improve strategic conversations, and use uncertainty as a source of opportunity and innovation, all while building a more risk-aware culture (Kahneman, 2011; Roberts, 2022; Harvard Business School, 2023).
Unlocking Value: Why Executives Should Champion Decision-Centric Risk Management
Decision-centric risk management enables organisations to embed risk consideration directly into strategic and operational decision-making, balancing threats and opportunities to drive resilience and value. Unlike compliance-centric models that focus on regulatory adherence and box-ticking, decision-centric approaches are dynamic, collaborative, and geared toward achieving objectives and adapting to change. By integrating real-time analytics, scenario planning, and cross-functional accountability, decision-centric risk management transforms risk from a defensive function to a strategic enabler, empowering executives to deliver better outcomes and su