How are you identifying potential emerging risks for your business?
We currently are doing a yearly environmental scan of all risk reports that we can find on the internet and via our risk connections and identify what are new things coming through. This is then reported to our risk management committee at least once a year. This is our formal process. We do also check reports on an informal basis and will highlight if new risks are emerging.
What else can we do to identify emerging risks?
Are we on the right track?