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The sixth sense of risk

Building foresight to navigate the emerging risk landscape

Today’s executives face an increasingly uncertain risk landscape. The business environment exposes organizations to greater vulnerabilities, more complex dependencies and less predictable competition than ever before. At the same time there is intensifying pressure and expectation on the CEO’s...
Risk

Transforming business resilience

Implementing key risk indicators

The risk landscape of the modern business environment is constantly evolving, and companies need to maintain continuous oversight to deal with key risks that could threaten their businesses. Over the past decade, a number of highprofile corporate crises, many directly attributed to failures in risk...
Risk

Risk as a value generator

Optimizing risk-based decision-making using a “Total Cost of Risk” approach

Boards and investors of leading corporations are now taking more active and questioning positions on risk management. Striking a balance between the potential opportunities unlocked by appropriate risk-taking and potential losses requires expertise and a clear risk management strategy that is...
Risk

Loss prevention framework for insurance companies

An innovative approach to measuring and controlling risk

Innovative, homogenous and structured risk valuation approaches have played a unique role in reducing risk exposure and uncertainty surrounding insurance companies. However, market resilience, lack of information and specialty business require a tune-up in subjective and swung risk valuations. A...
Financial services, Strategy, Organization & transformation, Risk

Effective corporate risk governance

Mastering risk governance in an increasingly uncertain and fast-changing world

Failures in risk governance are visible on a daily basis through “breaking news” stories which demonstrate limitations in the effectiveness of typical approaches to risk management. The evolving business environment – breakthrough innovations, new security risks, accelerated diversification of...
Risk

Generating business value from data

Safeguarding reputation and improving efficiency through data-driven risk models

With advances in technology, companies are now collecting far greater quantities of data about their business processes and assets than before. However, existing assurance processes rarely benefit from this data, which limits access to richer insight and may lead to false assurance on...
Risk

Beyond carrots and sticks

Unlocking safety gains through understanding irrational behavior

Many organizations that have undertaken safety improvement initiatives have found that while easy wins are typically accomplished early on, further progress often becomes increasingly difficult. Safety improvement typically depends on changing human behavior, which is driven by underlying...
Risk

Corporate leadership beyond the gates

Extending governance of safety risk to off-site transportation

The corporate leadership agenda has become busier over the last decade as the world’s largest firms come under increasing scrutiny from a broader range of stakeholders. Beyond legal obligations, risks and opportunities for corporate reputation arise from matters such as carbon, water and community...
Risk

Escalating fines for safety offences

Since the introduction of new sentencing guidelines in February 2016, companies have seen much larger fines for health and safety violations

New sentencing guidelines are evidently changing the landscape for health and safety prosecutions. Executives should be aware of these changes and the potential implications on their businessSince 1974, the Health and Safety at Work etc. Act has been the backbone of the legislative framework...
Risk

Embracing complexity with value-based risk management

In the current environment uncertainties seem to be everywhere, making strategic planning more difficult than ever. Many companies use enterprise risk management (ERM) as a proven framework for managing risk. However, businesses are now looking to improve their track records when it comes to...
Risk