Risk management is an integral part of any business however most of the time it is simply seen as an add-on process that is often shoved into a silo to be kept away from core business functions. Now, this is no fault of business leadership as risk management has a historical reputation of being a […]
Risk Management Tools to Monitor your Business
With digital technology becoming a permanent part of organizations, businesses are now more likely to run into technical errors and hence becoming more unpredictable. According to a report by McKinsey in December 2017, 70% of senior managers had started to implement risk management tools in their businesses. Even the best organizations have also faced unanticipated […]
The Risk Librarian: 5 Free Online Sources for Risk Professionals
Knowledge is power in the risk management industry, an industry that must constantly keep up with a rapidly changing global environment encircling it. In business as in risk management the saying ‘innovate or die’ holds truth. Risk practitioners must always be ahead of the risks that impact their organizations daily, risks which can adversely impact […]
5 Soft Skills All Risk Managers Need
Being a risk manager is a truly unique position within any organization. This specialized role requires specific technical and soft skills to be successful and to create a risk-aware culture that permeates at all levels of the business. A few of the most common skills related to risk management professionals include financial acumen, effective communication, […]
6 Must Read Risk Management Books for 2020
Risk management has evolved quite a bit in the last century, from a simple way of managing business risks to becoming a tool assisting business leaders with making smarter decisions involving uncertainty and its subsequent limitations. I have found through my studies and academic work that some of the best risk management books out there […]
Risk Matrices: Pros, Cons and Alternatives
Risk matrices (or risk heat maps) have been in existent for some time and have become a contested topic in the risk management community in recent years. Once heralded as a sophisticated way to visually map risk pertinent to an organization’s revenue-producing activities or the overall industry in which they exist, these tools do have […]
Internal Audits Role in Fighting Cyber Attacks
Cyber-attacks are growing exponentially as our world becomes more digitally integrated on a global scale. From ransomware holding data hostage to phishing attacks spoofing innocent users, cybercriminals are looking to exploit the exponential amount of data existing in today’s world for easy payouts. A troubling stat from Cybersecurity Ventures estimates cybercrimes will costs businesses $6 […]
Operational Risks are a Global Focus in 2019
Protiviti and North Carolina State University’s ERM Initiative recently published their annual global risk report titled, Executive Perspectives on Top Risks 2019. This report focuses on the top risks executives are concerned could impact growth opportunities or create operational challenges in executing strategy. Here is the thirty thousand foot view, the global business environment is […]
