The Power of a Business-Integrated Risk Management Approach

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In the dynamic landscape of today’s digital age, organizations confront a myriad of challenges. From interconnected supply chains, to globalization, technological advancements, and the emergence of risks such as cyber threats, ESG mandates, geopolitical instability, and global pandemics, the landscape is evolving at an unprecedented pace.
Organizations must navigate these challenges while also managing their own internal complexities with diverse business lines, large administrative bureaucracies, complex and fragile IT infrastructure, massive data environments, extensive vendor relationship, and evolving customer needs.
Want to drive your transformation through process? You'll need to establish a process capability to be the engine that drives this approach.
To thrive in this environment, organizations require a formalized approach to risk management so that they can proactively identify, assess, and mitigate potential risks. Their risk management approach must ensure resilience, regulatory compliance, and strategic decision-making in an increasingly complex and interconnected landscape.
Many organizations, especially in highly regulated industries, struggle as the ability to maintain high quality risk data and their struggles maintaining clarity in the risk programs roles and responsibilities results in unacceptable risk for their customers, their business, and the markets that they serve.
Process is the key to tackling these challenges by providing consistent business context, or “what” the business does, to provide alignment across all risk types, all stakeholders, and to maintain high quality data.
Topics Covered
● Overview of Transformation Challenges
● The Process Inventory Framework
● Risk Data - How process becomes the “ground truth” for managing all risk types.
● Risk Operating Model - Process provides alignment across a broad set of stakeholders
● Solutions to common risk types:
● Operational Risk: Managing the risk of performing your day-to-day business.
● Compliance Risk: Ensuring that your organization complies with relevant laws and regulations.
● Operational Resiliency: Ensuring that you can maintain a minimum level of operations in the event of a disruptive event.
● Third Party Risk Management: Controlling the risk in the vendors that support your business.
● Risk Reporting - Providing executives and external regulators an accurate picture of the risk environment