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Embrace uncertainty, reveal opportunity
Knowledge is power. In today’s ever-evolving risk landscape, you can’t eliminate threats. But a risk intelligent approach can give you a better understanding, helping you reimagine risk to reveal new strategic opportunities and create value for your company.
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Orchestrating enterprise risk management (ERM): How successful CROs bring art to the science of risk management
Chief risk officers (CROs) have always recognized the value of science to help them manage risk. Now, they are seeing the need to develop their communication, facilitation, and other softer skills to bring an artful approach to effective risk management.
It’s mostly been about science
If art and science constitute two tenets within effective risk management, in recent years science—that is to say, the quantitative and technological side of risk—has arguably become the dominant one. Technologies for capturing, monitoring, and analyzing data now generate a rich base of information. Data visualization and real-time communication provide timely tracking of many risks. Site-specific and risk-specific tools have multiplied to the point where many risks can be quantified and monitored.
Yet risks have become more numerous, interrelated, complex, and damaging. Strategic and reputational risks have proliferated. Conduct risks continue to morph in unpredictable ways, constantly outpacing organizations’ abilities to anticipate them. New cyber risks emerge as rapidly as organizations adopt new technologies. Every innovation in areas ranging from business models to operating systems, from supply chains to compensation plans, poses new risks to the organization and its stakeholders, as well as new competitive and regulatory considerations.
Pulse survey: Weigh in on issues that are top-of-mind for risk executives. Tell us what you think.
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Know Risk rewind: A look back at previous issues
Third-party risk: Optimizing the extended enterprise
January 30 | 2 p.m. ET
In many organizations there is focus on extended enterprise risk management (EERM) practices. What are drivers behind that movement, and what are top-of-mind themes for boards, leaders, and practitioners?