Are you still performing risk management responsibilities as you did in 2019? What may have worked then certainly may not work now, given the uncertainties of 2020 and 2021. In this session at RIMS 2021, James Green, Director of Risk Practices at Origami Risk, uncovers what risk managers can do to stay relevant moving forward.
How Risk Management Stays Relevant Post-Pandemic
- Understand that only checking a box won’t work anymore. Risk managers need to be more than a compliance function, in regards to meeting more than the bare minimum required to pass an audit. Strive to be more proactive with your approach to risk.
- Know what you bring to your organization’s value. All risk managers should be asking themselves how they support the mission of their organization.
- Provide relevant, understandable data. Risk managers should be able to provide data that will not be dismissed because it’s overcomplicated. Data should also be actionable and allow decisions to be made from it. Ask if the data is resolving a problem and if it’s even relevant.
- Ask what works best for your organization’s needs. There isn’t a one-size-fits-all solution for risk management. Recognize that every industry is different from culture to size, so strategies should be tailored.
- Remember that no organization is bulletproof. Even after the lessons of COVID-19, there will always be an emerging risk that you can only be so proactive with.
- Build a more resilient enterprise risk management strategy. The foundation for a resilient organization depends on unification and collaboration. Avoiding silos and understanding how everyone’s roles play into mitigating risks will be extremely beneficial when the next unpredictable event occurs.