Whose Role Is It To Manage Operational Risk?
What is operational risk? It is usually defined as the prospect of loss resulting from inadequate or failed procedures, systems or policies or other external events. Generally, it is understood to be the uncertainties and hazards that an organisation has to deal with in the course of its day-to-day business
Technology And Data Risk
Any organisation which uses technology in its operations to store, manipulate, transfer or create data or information, is at technological and data risk. This applies to practically every company operating today, regardless of their levels of technological use. Technology risk is a firm’s exposure to potential loss resulting from the
Challenges In Project Risk Management: How To Overcome Them
Even the best laid plans can go wrong; there is never absolute certainty about the outcome of a project. Project risk management should be applied from the very beginning of a project for a variety of reasons. Every project is unique, even if they are undertaken by the same team,
The Race To Operational Resilience In The New Normal
What is resilience? It’s what helps individuals and organisations bounce back from adversity. The result of experience, ability and strength, resilience is a dynamic process that has to be developed over time, and continually tested to gauge its fitness for purpose. Within the business context, resilience is what keeps companies
Factors Influencing Accelerating Adoption Of ERM
More and more organisations are beginning to realise the effectiveness of Enterprise Risk Management (ERM) and are actively looking for ways of making it work for them. Many factors have come together to bring about this growing acceptance; education, internationally-accepted standards for risk management and best practices are just three
Crisis Communications & Management: Just The Role Of PR?
In today’s business environment, organisations need to be prepared for a wide range of potential crises. These range from extreme weather conditions, product recalls, corporate malfeasance, cyberattacks or even acts of terrorism. The only thing that will be certain is that a crisis will hit without warning. Regardless of how
Risk Management In Technology: The Board’s Role
While it is usually management which designs and implements the organisation’s risk management framework, it is the Board’s role to ensure the soundness and usability of the framework for which it is ultimately responsible for. It is no different when it comes to risk management for information technology (IT). Boards
The Role Of The Board In ESG
Environmental, social and governance (ESG) considerations are gaining more traction in tandem with the increased demand for greater corporate transparency and accountability to stakeholders. The scope of ESG is wide, ranging from issues like climate change and income inequality, to gender diversity, ethical practices, and greater stakeholder participation or input
Machine Learning, Artificial Intelligence And Risk Management
Machine Learning (ML) is becoming an integral part of everything we do; there’s no getting away from it. We now reach for Google Maps and Waze – which are examples of how far ML has become integrated into our everyday activities – instead of thinking out our routes when we’re
