Deon Binneman’s Post

Six Habits of highly successful Chief Risk Officers In just the past few years, a series of unprecedented and fast-moving threats have disrupted organizations. How companies, particularly financial institutions, respond to these complex risks has profound implications. Source: McKinsey #CRO #Risks #Global #Business #GTM_International https://lnkd.in/eF7eajfw

The six habits of highly successful chief risk officers In just the past few years, a series of unprecedented and fast-moving threats have disrupted organizations. How companies, particularly financial institutions, respond to these complex risks has profound implications. The […] #transformfm #ifma #ashe

Great read on "the six habits of highly successful chief risk officers." One habit that stood out: encouraging timely escalation by telling the team, “If you tell me about a risk issue and it subsequently blows up, that’s my problem. If you don’t tell me, then it’s your problem.” https://lnkd.in/gw3imwUv

The six habits of highly successful chief risk officers

The six habits of highly successful chief risk officers

The role of risk managers is shifting in response to economic, geopolitical, and technological changes. AXA’s ‘Future Risks Report’ reveals that 75% of risk experts view risks as more interconnected than ever. Elie H. discusses these evolving challenges and their implications at the 2024 Airmic Conference. https://hubs.la/Q02KYRyK0

How are financial organizations navigating an increasingly complex risk landscape? That was the question posed to Kathryn Fric, Ontario Teachers' Chief Risk Officer, at the Global Risk Institute Summit last week. Kathryn joined Jean-Sébastien Grisé and Halina von dem Hagen on a panel moderated by Nezihe Aquino to discuss how risk leaders are adapting into the speed of change.   Kathryn said that new and emerging risks are becoming more interconnected in today’s complex operating environment. This means we must not only prepare for known risks that lie ahead, but also consider their impacts in unanticipated ways. Kathryn said we cannot overemphasize the importance of a strong risk culture – that having the proper tools and controls in place enables us to build resilience, be agile and pivot our portfolio when needed. Ultimately risk preparedness in a rapidly changing world is key to the long-term sustainability of the plan and critical to our core purpose of delivering financial security to our members.

Almost everything the #board is responsible for comes down to two key fundamentals: oversight of #strategy and oversight of #risk — and usually the interplay of both. Over the past decade, boards have leaned further into the former, a reflection of how critical strategy is to growth. Still, risk oversight is at the core of the board’s fundamental #fiduciary duties. Directors & Boards #CorporateGovernance #RiskManagement 

WTW's latest "Emerging and Interconnected Risks Survey" uncovers significant gaps in how organizations are preparing for future challenges. Adam Garrard, Global Chairman of Risk & Broking at WTW, emphasizes the importance of optimizing risk outcomes through smart specialization and data-driven decision-making. https://hubs.la/Q02Z3_KJ0

Reputation risk has become a critical focus for businesses in an ever-changing landscape. Factors like the increasing influence of social media, heightened data security concerns, and evolving ESG global standards are reshaping the risk landscape. Organisations, especially within the financial services sector, face ongoing challenges and shocks across various risk domains, many of which have led to significant reputational damage. In this webinar, we’ll explore why reputation risk remains a priority for Boards and senior management. Key discussion points include: ✅ Strategies to manage reputation risks effectively. ✅ The potential impact of reputation risk on share price. ✅ The competitive advantage of a robust reputational risk management framework. Don’t miss this insightful session hosted by Protecht's Gary Lynam and Aon's Richard Waterer! 📅 Register now: https://bit.ly/3V7m8e5 #risk #riskmanagement #esg #webinar