risk (530)

Transforming Risk Management into Risk Intelligence

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In one of our latest interviews, we've been joined by Will Anderson, the CEO of Resolver.inc.  Resolver provides an integrated risk management software for mid to large-sized organizations to empower business, to move faster. The solutions include risk management, corporate security, business resilience, and IT risk. Over 1,000 organizations worldwide depend on Resolver’s security, risk and compliance software. That’s about 1,000,000 people u

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The FinTech revolution has allowed many new players to enter the market. Disruptive banks and open banking have become serious competition for traditional banks. These new banks and financial services applications have yet to build a reputation. But that also means that they are not notoriously unethical. Which is probably an advantage. 

Step 1: Make Integrity Your Core Value 

Banking is a business based on trust. And trust is based on the belief that a company conducts its business with integri

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Undoubtedly, the current global contingency has shaken the operating model of companies in various sectors. This confronts us with a reality previously unthinkable for many of the businesses that had not developed sufficient capacities. 

From a business perspective, the impact of the pandemic has left companies in various positions: 

  • Businesses that have suddenly lost relevance and even viability. 
  • Sectors with unstable structures and vulnerabilities that are sustainable in the short term, and
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Join our upcoming webinar Using Behavioural Science to Crack the Culture Code for Risk Management

Corporate culture is one of the most critical levers for creating shareholder value and driving organisational performance, yet one that most companies underutilise. Up until now culture has been extremely difficult to measure and transform as the underlying drivers are invisible. If organisations are unable to see, describe or measure behaviours, it is hard to know if the culture is helping or harm

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 How to Conduct an Ethics & Compliance Risk Assessment

An ethics and compliance risk assessment can help you understand where unethical or illegal conduct might occur within your organisation. This detailed 40-page guide offers a 12-step framework that will help you complete your own ethics and compliance risk assessment.
Armed with your findings and action plan, you will be equipped to develop and implement an effective ethics and compliance programme.

Download Now!
 
Download the guid
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Working Within a Complex System

Aaron Dignan, in an excerpt from his book Brave New Work on ‘Changing Organisational Mindset’ explains the difference between complicated and complex by comparing it to the difference between a car and traffic[1]. Everything about a car has been worked out by scientists and engineers and how it moves is predictable. We can’t predict precisely how traffic will move despite our best modelling efforts.

Dignan explains that complex systems are more about ‘relationships and interactions among their c

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Understanding Risk Management

According to the ISO 31000 standard, risk management is the process that allows companies to identify, analyze, evaluate, and take action to control the risk situations to which they are exposed. These are adverse events that interfere if materialized, they hinder or affect the achievement of the objectives and can represent damages and losses. 

Simply, risk management is a codified way to mitigate the risks that will harm the future of the company. Every action we take has an inherent amount of

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In this interview we reviewed how 2020 changed what we do in Risk Management and Governance and what are themes emerging in 2021. The main topics discussed are - What are the key risk areas boards and managers are worried about and want more training on? - How delivery methods are changing and how to combine the remote delivery with high engagement. and more...
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Dogged Inaction

8332289460?profile=originalDogged inaction by leaders when staff raise issues is one cause of organisational silence (which I wrote about last week), and ultimately causes the destruction of psychological safety.

Dogged inaction is what happened to the Department of Immigration and Multicultural Affairs around the immigration detention of Cornelia Rau which lead to the 2005 Palmer Report. Rau, an Australian citizen, was illegally detained for ten months. Due to her mental illness her citizenship was not ascertained for all

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 5 complimentary templates to help you plan and prepare for a safe return for employees
 
 
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COVID-19 has transformed how companies operate in ways that are likely to persist for years to come. Bringing employees back on-site during and after the pandemic is sure to be challenging.

Download 5 free templates to make planning managing the associated risks to your business easier.

The Back-to-Work Planning Kit Includes:

  • Back-to-Work O
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Deafening Silence

8272620091?profile=originalWhile a lack of psychological safety means a team is missing out on the opportunity to take risks and innovate (as I pointed out last week), when the lack of psychological safety  becomes rampant, a much bigger risk develops. That risk is the deafening silence that descends on the organisation because no one will speak up. A situation termed organisational or employee silence.

I wrote about this phenomenon a couple of months ago when I reflected on my time at HIH Insurance and the need to sometim

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P.S. Give them the WIIFM

8272620063?profile=originalThere are more avenues to helping a leader realise they need to change to create psychological safety than I shared in my blog last week. While showing them what was happening is a good start, you also need to make sure they understand what they can have if they make changes. That is, answer the question “What’s In It For Me?” (WIIFM).

A good way to do that is to contrast what is happening now with the type of changes you are suggesting and the favourable outcomes they can expect. Here are three

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Training delivered by experts, 100% online.

 
Hello Global Risk Community member,
As we all adapt to a new way of working, we must continue to invest in training.  Failing to re-skill and up-skill will be costly in the long-run and will impact on performance, risk exposure and morale. 

We have a well established portfolio of distance learning courses developed by the same expert practitioners that run our face-to-face courses and in partnership

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Fighting Psychological Warfare

Last week I wrote about Kate and her experience of “psychological warfare” which is a culture where psychological safety does not exist. Upon reflection, Kate realised that while she created psychological safety for her team she did not create it for herself. So when she spoke up, her boss and others on the executive felt threatened and reacted with an array of avoiding, delaying and blame-shifting strategies.

Kate and I spoke about how she could have done things differently. In hindsight, she re

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Identifying Psychological Warfare

8219692454?profile=originalI expect the term psychological warfare interests you because you are wondering which kind I would be writing about. Would it be about China, the US Election or state border restrictions in Australia? None of those. It’s about needing to operate in a culture where psychological safety is not just lacking, it’s non-existent.

Recently I invited a guest speaker to my monthly Risk Leadership Group to share her experience in a toxic environment. Let’s call her Kate. What Kate experienced was a culture

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Finally I get stats 101

8219693079?profile=originalI don’t know if you have noticed, but I have been blogging about measurement, data, and statistics for the past 19 weeks. All to defeat quantifornication – the act of pulling numbers out of thin air for decision making. Numbers that are seemingly reliable but are not.

This week, Tuesday 10th November at 15:00hrs AEDT, I am presenting with my colleague Dr Andrew Pratley. Our presentation is Statistics 101 Applied to Controls – How to test and measure control resilience. Our presentation is part of

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Optify your advice

8219694066?profile=original“Provided with the freedom to choose, decision makers are likely to act more rationally and be more fully behind the decision.” Is how I finished last week’s blog.

Optifying your advice is delivering the freedom to choose in the optimum way. Your optimum way. And it follows the Rule of Three.

People like things in threes. Think of The Three Little Pigs or The Three Musketeers or Superman’s: ‘truth, justice and the American way’. Or ask Shakespeare’s Julius Caesar: ‘Friends, Romans, Countrymen’; or

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FastPath

Hi Global Risk Community member,

Most companies know they need a plan to manage user access risk but don’t know where to begin.

The team at Fastpath is offering a free step-by-step guide outlining the steps to help companies develop a risk assessment plan:

  1. Determining Ownership
  2. Defining the Rules
  3. Reducing the Noise
  4. Reducing Your Risk
  5. Locking Down the Process
  6. Automating the Process
  7. Continuous Monitoring

Also included are:

  • Tips on how to reduce your risk
  • Real-life exam
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Hating Restraints

8219691475?profile=originalPeople mostly don’t like to be restrained. We also don’t like some constraints but we like others. For example, we like choice when buying but we don’t like too many choices.

Restraints on the other hand are an attack on our freedom.

Take seat belts for example. They were first invented the century before last! The modern retractable 3-point seat belt was invented in the 1950s. However, seat belt wearing was not compulsory and it took government legislation, regulation and enforcement to get more

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