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Wednesday, March 24th 2021

This week in
Consulting

How do you adapt your risk management for tomorrow?

This week’s must read

How to Prepare Now for Your Next Crisis Post-COVID | Risk Management Monitor
As business leaders remain hyper-focused on navigating through the pandemic, few have sufficiently considered how to prepare for the next major crisis. There are many steps leaders can take, some of which include reassessing their risk management plans, constructing cohesive frameworks that proactiv…

The COVID-19 pandemic has dramatically shifted the way businesses operate and has created new problems that business leaders must solve. Reassessing their risk management plans, constructing cohesive frameworks, identifying protocols and procedures to fill those gaps will help organizations better prepare for the next major crisis.

This Week’s Must Read is an insight piece from Matthew Hinton, Control Risks, about preparing Now for Your Next Crisis Post-COVID.

 Matthew Hinton@Control Risks for Risk Management Monitor

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Thought Leadership

Council Post: The Future Of Risk Management Is Automated
The era of cascading risk is here to stay.

As Covid-19 spread across the world, businesses faced massive cascading disruptions while the crisis is far from over. To survive, organizations will have to implement a risk management program that blends data science, automation, and artificial intelligence.

Atul Vashistha@Supply Wisdom & Neo Group for Forbes

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Recognizing Strategic Risks and the Role of the CRO – Risk Management
Strategic risks can expose an organization to loss and even
extinction when unrecognized or unmanaged. Think of the many well-known
companies that have ceased to exist due to a failure to recognize the risks
coming from new technology, changing customer preferences, heightened competition,
new regul…

Strategic risks can expose an organization to loss and even extinction when unrecognized or unmanaged. The article presents three common strategic risk areas that companies need to take seriously.

Donna Galer@Hanover Stone Solutions and Al Decker@Risk Management

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A moving target: Refocusing risk and resiliency amidst continued uncertainty
The impact of COVID-19 on financial institutions, the economic downturn, and changes to working practices have had broad implications for risk management. How has risk management responded and where does it go from here?

In 2020, the measures taken by governments, businesses, and consumers to restrain the spread of the novel coronavirus triggered a sharp economic downturn and far-reaching social impacts. How has risk management responded in financial institutions and where does it go from here?

J. H. Caldwell@Deloitte

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Four ways boards can oversee risk management beyond COVID-19
Leading directors offer their insights into why COVID-19 requires a new attitude to board risk oversight.

Understanding new and emerging risks to business during a pandemic is tricky. The EY Global Center for Board Matters interviewed seven leading board directors to understand how their approach to risk management reframes their organizations’ future.

Sharon Sutherland@EY

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This week’s Consulting News

IBM Developed an AI System That Engages in Debates with Humans and Convinces Some
The system is meant to support humans, not overtake them.

| Loukia Papadopoulos@Interesting Engineering

Citi Private Bank Loses China Heavyweight
Citi Private Bank loses several within its mainland China coverage team, including a veteran relationship manager. Citi Private Bank’s global market

| @RetailNews Asia

Swimm makes key hires focused on operational excellence
/PRNewswire/ -- Swimm, the company that allows knowledge building through continuous, auto-synced documentation, announced Elinor Guetta and Tim Post’s...

| @PR newswire

Pharma consultancy Accession receives private investment
Pharmaceutical advisory firm Accession Healthcare Consulting has received private investment to maintain its current growth rate and support its future growth plans.

| @Consultancy.uk

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This week’s media

Believe it or not, there is a silver lining in the COVID-19 pandemic. Instead of zeroing in on the negatives, we shall focus on the many opportunities under the new normal, including a wider and faster adoption of FinTech and leveraging dynamic sandbox-type thinking to address risk management challenges.

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