Globalization has led to a complex and rapidly changing business environment, where organizations must navigate diverse risks that demand global risk management strategies. Risk management professionals play a vital role in identifying and assessing these risks. They develop and implement risk mitigation plans and ensure compliance with regulatory frameworks across different jurisdictions. Additionally, effective risk…
Tag: risk
The Growing Importance of Risk Culture: Enhancing Risk Management in Organizations
In today’s unpredictable business environment, risk culture has become a cornerstone of effective risk management. This shift is driven by a simple realization: a strong risk culture can be the difference between success and failure. Take the infamous collapse of financial giant Lehman Brothers, a stark example of the devastating consequences of poor risk culture….
Embracing Holistic Risk Management: Safeguarding Businesses from Diverse Risks
In today’s rapidly changing business environment, risks are emerging from every direction, posing potential threats to organizational performance and growth. While traditional risk management models may have served a purpose in the past, the evolving nature of risks requires a more comprehensive approach to risk management. According to the Global Risk Management Survey 2022 conducted…
Risk Management For Regional Banks: Why Ignoring The Warning Signs Can Be Costly
Effective risk management is becoming increasingly important for regional banks in order to protect their business and customers’ savings. With the Federal Reserve and other regulatory bodies taking measures to stop risky lending within the banking industry, regional banks also need to follow suit by controlling the risks in their operations. Regional banks are financial…
Impact of Trump Victory on the Risk Management Profession
Everyone is trying to figure out – what happens now? For the 7.4 billion people in our world, I think we can all agree – the world just got, at least a little bit, more risky for all of us. But, what about for risk professionals? I have been recruiting risk and compliance professionals for…
Four components of an Exceptional Risk Manager
Clients and newcomers to the field of risk management have often asked, “What makes a great risk manager?” In the 13 years that I have led Risk Talent Associates, the leading executive recruiting firm in risk management, I have found that exceptional risk managers have all four of the following traits: 1) Quantitative Skills –…