I had my book launch for Risky Business: How Successful Organisations Embrace Uncertainty on Thursday afternoon. What a fantastic afternoon with near on two hundred risk professionals, current and past clients and friends and family helping me to celebrate.
This is an important book for the risk profession and organisations alike. As I said during my presentation, the time for change is now. The time for the risk profession to step up is now.
During the event I showed the figure below. I explained how I had observed businesses creeping from treating risk as a compliance activity, to one where it is valued for the insights it brings and the leadership it provides in determining the type and amount of risk to take. This means moving business leaders from treating risk as a tick and flick add-on, to a position where they welcome the support of the risk team and hold themselves accountable for managing uncertainty.
I took a poll of the audience with the results broadly indicative of my experience in working with organisations and risk practitioners. Pleasantly just over 50% said their organisation was operating above the line in the 2010s or 2020s with just over 20% in the 2020s. Sadly, almost 50% are not treating risk as valuable, with 14% in the 1990s.
The poll emphasises that the time for the risk profession is now. During the 2020s we must shift 80% of organisations to the point where business leaders are taking accountability for risk. To do this, you must have a focus on building the influence of you and your risk team. The more you can create excellent analysis and translate it into excellent advice actioned by management, the sooner leaders will look forward to working with you and be willing to hold themselves accountable.
Risk Management Through The Decades
At the Q&A at the end of the launch I was asked what the 2030s would look like for risk management. My answer? Business leaders will be accountable and the risk profession will have a seat at the table where the decisions are made.
The last chapter of Risky Business: How Successful Organisations Embrace Uncertainty is on persuasive advising so please grab a copy if you have not earned yourself a free one as yet. If you did come to my online book launch last week your free copy will be on its way very shortly.
And if you want to go deep on influence, check out my Persuasive Adviser Program – the next one is being held on the 29th & 30th of March.