Whether you’ve just started in Risk Management or you’re already a professional in this arena, this article will interest you. We are highlighting some of the reference professionals we follow who are seasoned Risk Managers, each in its own area of expertise. Most of these professionals have lengthy experience in Risk Management and are at […]
ERM
Agriculture Industry: Trading and Risk Management
There is a race on across the globe towards increasing productivity and efficiency in the agriculture industry and making the businesses more sustainable. What we need is a fundamental shift in the way agriculture companies handle trading and risk operations and processes. Continuous pressure to increase operational efficiency, decrease reaction times, drive efficient collaboration and […]
7 Risk Assessment Blind Spots (and How to Beat Them)
You’ve all been there, driving along knowing you can predictably change lanes with ease, when suddenly a car shows up in your blind spot. You swerve back to your lane and everyone in your car is startled to attention, wondering what happened and knowing you messed up. Or, you’re walking down the sidewalk, consumed by […]
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 […]
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 […]
Risk Identification Framework: A Guide to Taking an Important Step in Your Risk Management Journey
When Mr. Olufemi became an Interswitch Financial Inclusion Agent, he may not have foreseen that a few months later, he would be crying out about serious bodily injury from assault and threats to his life by angry customers whom he owed about N2 million. Mr. Olufemi operated a Quickteller Paypoint shop, and his business plan […]
Speaking in Risk Management Tongues
Abstract A critical step in building an effective risk management culture is understanding the organizational context and speaking a shared language. Driving the right response to risk events requires a common understanding of the potential consequences of outcomes and the criticality of timely response. Without a shared understanding of what is being communicated, risk response […]
7 Key Steps to Implementing a Risk Culture
In any organization, risks are taken on a daily basis. No one could hope to be profitable without them. However, if risk-taking becomes too extreme, it could lead to customer distrust, employee activities that go against stated values, or even the end of operations. Risk-taking doesn’t necessarily lead to financial or reputational damage, but it […]