Why are many risk management systems broken? What needs to be done to fix them? What are the pitfalls to avoid when deploying an ERM system? Whether you're new to risk management or a seasoned veteran, you'll learn effective approaches and emerging models that are backed by real-world examples. More »
Please join me next week when I offer a series of short presentations on getting results from risk management. I'll give three 20-minute talks via web conferencing on 5-Sept, 12-Sept, and 19-Sept, all starting at 10 a.m. AEST.
My focus is on how to sidestep the 'gotchas' of 20th century practices and embrace what works.
Risk management has traditionally focused on the downside—the "what if"—of risk: What if I get audited; will my documentation be in order? What if someone gets hurt? Risk has also traditionally been as siloed in many organizations, each functional area requiring its own unique parameters. Accounting and Finance is concerned with financial regulations; manufacturing is concerned about safety and equipment validation. To further complicate the situation, each functional area turned to a different risk management solutions that would meet their specific regulatory requirements. The goal was to stay out of trouble. Aside from the obvious IT application management nightmare the siloed, stay-out-of-trouble approach to risk management became a model for inefficiency and escalating costs.
Modern risk management philosophy goes beyond "staying out of trouble." It incorporates the upside of risk—the people and process efficiencies that result when a holistic risk management framework is integrated into all aspects of the business and aligned to specific business objectives.
Investments in risk management must produce a good return. In this session we see why many risk management systems are broken and what needs to be done to fix them. Whether you're new to risk management or a seasoned veteran, you'll learn effective approaches and emerging models that are backed by real-world examples.
Welcome to 21st century risk management!