J Haye's Weekly Digest, 29 January 2024

How to Develop a Risk Strategy

How would you describe the risk strategy of your organisation?

All commercial and non-profit organisations should develop some sort of risk strategy that aligns with their mission and goals. Yet, I have observed that many lack a structured approach to risk management.

In the comprehensive article "How to Develop a Risk Strategy," you are introduced to a systematic approach to formulating and executing a robust risk strategy. This guide emphasises the critical importance of integrating risk management into the core framework of commercial and non-profit organisations to enhance decision-making, planning, and operational processes. Aligning risk strategies with an entity's mission, vision, and goals ensures that risk management efforts substantially support the achievement of strategic objectives.

Key insights of the article include:?

1. Strategic Alignment: risk strategies must be aligned with your organisation's business objectives and market dynamics.
2. Proactive Risk Management: focus on the identification, assessment, and mitigation of potential threats and opportunities, to anticipate and address risks before they escalate.
3. Resource Optimisation: Perform strategic prioritisation based on the significance of risks, to ensure that resources are directed towards mitigating critical risks.
4. Decision-Making Support: risk strategy underpins informed decision-making across all levels of an organisation, ensuring that decisions are made in alignment with the organisation's risk appetite and overall strategic direction.
5. Technological Integration in Risk Management: the transformative impact of technology on risk management must be considered; tools like data analytics, AI, and IoT can revolutionise risk prediction, monitoring, and mitigation.
6. Risk Culture and Employee Engagement: Cultivate a robust risk culture and active employee engagement, where transparency, informed risk-aware behaviour, and proactive management are ingrained in the organisational ethos.

Read full article here - https://www.aevitium.com/post/how-to-develop-a-risk-strategy

Aevitium Online Foundational Risk Training Programme

Training 1: Introduction to Risk Management

Objective: To provide you with a foundational understanding of the principles and concepts of risk management, ensuring you grasp the fundamental aspects of identifying, assessing, and mitigating risks within various organisational contexts. This training is aimed at beginners.

Date: Fri, 19th April 2024 08:00 - 09:30 GMT

Duration: 1h30

Format: Online

General Admission: GBP90

Tutor: Julien Haye, FRM and Risk Learning Faculty

Promotion: Benefit from a limited 15% promotion on the next 50 sales (open to everyone) + an extra 10% offer for Aevitium LTD's followers if you register before mid-February 2024 (CODE: FOLLOWER01)

Register to training now: https://www.eventbrite.co.uk/e/introduction-to-risk-management-tickets-787493433057?aff=oddtdtcreator

RiskMasters Podcast

The next episode featuring the fantastic Michele Wucker, the acclaimed author of the The Gray Rhino: How to Recognize and Act on the Obvious Dangers We Ignore, is now live!

Listen to it here: https://www.aevitium.com/post/riskmasters-with-michele-wucker

Discover the Previous Interviews on RiskMasters

EP3 - Fintech's Risk Frontier: A Conversation with Divya Eapen, CRO

EP2 - Coding the Future: Digitalisation and AI in Risk Management and Trading with Britta Achmann

EP1 - Risk Unboxed: Navigating Board Dynamics and Unconventional Journeys with Terri Duhon

EP0 - Trailblazing Risk Leaders: A Journey of Mastery

Let's discuss how I could help; book a meeting now!

Should you have any questions or if you'd like to discuss how our services can specifically benefit your organisation, don't hesitate to reach out to me directly at [email protected] or call me at +44 7700 160052. You can also book a meeting directly by clicking on the button below.

Or book a meeting here!