What are the best sources and methods for staying updated on risk trends and developments?

In risk management, the most important thing to remember is to follow the triad: identify, quantify and manage risk. You have to (i) understand what are your main sources of risk (which will depend upon your area of actuation); (ii) quantify those risks and measure them against your risk appetite - what is the level of risk I am willing to take and how to mitigate and neutralize the exceeding portion of it and (iii) manage your risk exposure - how to monitor performance to make sure your mitigation actions are correctly in place and how to adjust to market movements that may change it. In identifying risks, you have to remember that some risks may be potentialized by other tangent risk factors, for example: credit vs operational risks.

The key to remaining abreast of evolving risk landscapes is rooted in the meticulous identification of one's risk domains, those specific areas of risk that hold paramount relevance within a given role and context. Consider, for instance, the financial sector, where attention might be directed towards credit, market, operational, and regulatory risks. Alternatively, in the healthcare realm, the focus may shift towards patient safety, quality assurance, compliance, and cybersecurity risks. Establishing these tailored risk domains acts as a strategic filter, allowing individuals to refine their focus and discern the substantive signals amid the noise.

Navigating the ever-evolving landscape of risk requires staying ahead of the curve. To do so, diversify your information intake. Professional associations like RIMS and IRM offer publications, webinars, and events, keeping you abreast of industry trends and best practices. Industry-specific publications and news outlets provide focused insights, while general news sources like The Economist offer broader context. Don't underestimate blogs and online communities, where experts share cutting-edge ideas and engage in lively discussions. Actively engage with other risk professionals through conferences, workshops, or online forums. By combining diverse sources and active learning, you'll be well-equipped to anticipate and manage emerging risks.

In my experience, risk domains are what we call risk categories which revolves around the industry or sector we work in. Having clear risk domains allows the organization to have a laser focus on risk management. The trends and developments on risk can be sourced out from various organizations like Institute of Internal Auditors which publishes survey and studies on Risk.

There are many resources in this space but surveys like BofA Global Fund Manager or National Bank surveys are great tools to see what the worries of an industry currently are and how it changes over time.

For all of my colleagues working across the public sector in the fraud arena. The public sector fraud authority is a great source of learning and information. For those working in the Healthcare sector in the UK and again in the fraud arena there is lots of information on both the public facing and secure site of the NHS Counter Fraud Authority

*Do not forget identification & continuous update of important: Legal , Regulatory & Legislation Risk . How to do that ? 1. Subscribe to e- Ping : The platform facilitates tracking sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) measures. As a user, you can, amongst others:. 2. Subscribe to your country's official newspaper to get new Laws & decrees & countries you will export your products 3. Implement : ISO 31022:2020 Risk management Guidelines for the management of legal risk 4. Audit Compliance evaluation 5. Implement: ISO 37301:2021 Compliance management systems Requirements with guidance for use

The international risk management institute (IRMI) is another great resource with free and paid material. They have designation programs that can help develop knowledge in specific industry verticals.

Staying updated on risk trends and developments is crucial for informed decision-making. A great source is by accessing research reports from consulting firms, think tanks, and academic institutions that often publish studies on risk trends and developments. Eg. Risk and Insurance affiliated to the The Institutes

Moving forward in the quest for staying ahead of risk dynamics, the third imperative is to leverage online tools and platforms designed to facilitate seamless access, organization, and sharing of pertinent risk information and knowledge. The versatile app Feedly proves instrumental in crafting and managing a personalized news feed drawn from various sources. This allows for effective categorization based on risk domains, topics, or areas of interest, streamlining the process of information consumption. Harnessing the power of professional networking, LinkedIn serves as a dynamic social platform fostering connections and engagement with fellow risk professionals, specialized groups, and influential thought leaders.

One of the most useful tools to gain experience and expertise is by following top industry experts on social media. Most of the leaders in any industry have an impressive LinkedIn or Twitter profile and actively post on current events or upcoming issues. Identifying and following those who are most renowned in a field can be a great way to get a daily dose of the most important things happening in an industry.

Learning opportunities can come in so many different forms. A combination of webinars, conferences and following experts or risk professionals can bring timely insights about trends and updates. It also pays to have friends and acquaintances in the same field but working in different industry or sector whom can also bring a different perspective on what risks they are focusing into.

I believe applying what you learn about risk is crucial for growth. Reviewing, setting goals, and implementing in your work help improve skills. Testing knowledge in real projects and seeking feedback ensures continuous improvement. It's vital for becoming better at handling risks in work and learning from experiences.

Acompanhe o Banco Central do Brasil e suas atualiza??es e percep??es quanto ao gerenciamento de riscos. No site tem bastante conteúdo. Acompanhe as "big four" de auditoria pois estas empresas elaboram relatórios com as tendências do gerenciamento de riscos a nível mundial. Fa?a networking com outras Institui??es, principalmente do mesmo nicho que o seu, e troque conhecimento e experiências. Siga profissionais da área no LinkedIn, principalmente quem produz conteúdo regularmente.