What are the latest trends in risk management?
Thanks to new technologies like automated ticketing and response services and better activity monitoring, risk management trends have also shifted from responsive to proactive. By focusing resources on incident preparation, your enterprise operates less on the “what ifs” since it’s anticipated all potential courses of action, losses included.
How is risk rated?
Risk is rated on the impact on the business which can be economic or reputational and its likelihood of occurring in the near future. This is the common pattern of risk across businesses. Impact of Risk Rating Low: A low rated event is one with little / no impact on the business activities and the reputation of the firm.
What is your company’s risk tolerance?
Risk tolerance is how equipped your company is to handle a certain level of risk and still achieve its objectives. Think of it as the backup parachute you pack–just in case — so you can focus on enjoying the thrill of the jump, like new innovations or experiments.