What We Think

Change Brings Opportunity

Risk Management

As we head into this current period of change, it is normal for organizations and their leadership to experience some level of anxiety as they evaluate the possible risks these changes may bring. While I understand that some consider recent events historically unprecedented (Brexit, majority party transfer of US administration, and Italy’s referendum, to name a few), I think, observed in context, history has seen far more uncertain times in global politics and economics. What I do consider most unique about today is how the complexity and interconnectedness of our world has accelerated the speed and scale at which incidents can evolve into crises. As a risk professional I see these challenges as opportunities for organizations and their leadership to question the way things have been done and consider how they can be improved. These changes provide us with opportunities to reassess existing risk management and resiliency strategies to ensure controls mitigate risks and plans enable organizations to respond, recover, and resume operations in the event of a crisis.

Most would agree that a major advancement of modern technology is instant access to unlimited amounts of information. One unintended consequence of this is the paralyzing effect that information overload can have on decision makers. This is a particular challenge for anyone responsible for the strategic leadership of an organization. They are expected to evaluate multiple points of data, in rapidly changing markets, while considering varying levels of threats and risks, all while maintaining laser sharp focus on the successful delivery of products and services. As risk professionals we can add true value by focusing leadership’s attention on the most likely and probable threats to achieving the organization’s strategic goals. In this moment of change we are uniquely skilled to proactively identify threats, prioritize risks, and deliver solutions at the best value possible.

Change is certain, what it will bring, unfortunately is not. But if we take the opportunity to understand the changes, how they will affect us, and prepare accordingly, we can at least, I believe, reduce the uncertainty.

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