J Haye's Weekly Digest, 5 February 2024
Julien Haye
Transforming Risk and Compliance into Strategic Enablers with Practical Insights and Problem-Solving Expertise | Chief Risk & Compliance Officer | LGBT Leader & Inclusivity Advocate | Chair, NED, & Trustee
Gray Rhinos in the Financial Services Industry
How good are we at preventing the preventable?
Reflecting on my time in the financial services industry, the concept of "Gray Rhinos" can be seen as a pivotal force to drive effective risk management. Notably, Michele Wucker 's influential concept, which I had the privilege of discussing with her on RiskMasters, has redefined how we should perceive and respond to visible yet often overlooked threats in the financial sector. As I recently discussed in my article on 2024 Risk Management Mega-Trends , risk management is not just about responding to crises but about anticipating and mitigating the highly probable, high-impact challenges that a crash of Gray Rhinos represent.
As Chief Risk Officers (CROs) and risk professionals navigate this landscape, it is evident that recognising and proactively addressing Gray Rhino threats is crucial. These threats, characterised by their undeniable presence and significant potential impact, require a strategic approach that goes beyond traditional risk management paradigms. The financial sector's resilience, trust, and long-term stability hinge on our ability to confront these looming challenges head-on.
I understand that staying ahead of emerging risks can be a daunting task. This article delves deep into the essence of Gray Rhinos, illustrating their undeniable significance in the financial services industry. I have outlined how this concept applies to pivotal emerging trends, ensuring that you are equipped with the foresight and strategies needed to navigate the future confidently. This includes:
Read full article here - https://www.aevitium.com/post/gray-rhinos-financial-services-industry
Would you like to dive deeper into what his means for your organisation? Connect with me today for tailored solutions and expert guidance to strengthen your organisation's risk management strategies and drive resilience and growth.
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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
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Tutor: Julien Haye, FRM and Risk Learning Faculty
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Register to training now: https://www.eventbrite.co.uk/e/introduction-to-risk-management-tickets-787493433057?aff=oddtdtcreator
The new episode featuring the fantastic Michele Wucker, the acclaimed author of 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
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