In both risk management and day-to-day life, it feels as if the extraordinary has become simply … ordinary.
Just think about the past five to ten years. On levels both cultural and geopolitical, we’ve lived a lifetime of history since the mid-2010s: the B-word (Brexit), the C-word (Covid-19), countless world leadership controversies, the refugee crisis, war in Europe, the ongoing cost of living crisis…
And breathe, risk managers. It’s all going to be okay.
It’s safe to say that a more agile approach to risk management is needed to account for it all.
Not only that, but we can also comfortably say that risk management is more important than ever. While risk professionals have enjoyed a boost in respect across businesses for dealing with, well, all the mess, it’s now time to look forwards.
There are simply more risks now
This probably doesn’t require much explanation, but it’s important to delve a little deeper.
Today, risk management is more important than ever simply because risks are numerous and increasingly complex.
A Statista survey carried out among risk managers in late 2021 showed that cyber incidents (such as cybercrime, IT failure/outage, data breaches, fines/penalties) are easily considered the leading risk to businesses worldwide...