Risk transformation
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Risk transformation is about how to mitigate risk and in parallel develop competitive advantages. The goals of risk transformation are first to combat risk and secondly to differentiate and create solutions for the benefits of clients/users. Risk may include financial risk, security/safety-related risks, uncertainty, and risk through action or lack of action.[1]
Roles
Risk transformation is relevant in many areas, such as:
- Regulatory risks, involving compliance or lack of compliance
- Risk related to management and operations
- Organizational risk
- Project management risk
- Systems implementation and technical support risks
- Strategy risk, related to strategy development and execution, or lack of strategy
- Functional risks, such as within sales/marketing, logistics, production, and finance
- Security/safety risks, including attacks related to terror, criminals and attacks on countries and organisations from other nations
References
- ^ deloitteeditor. "Risk Transformation: Understanding the Role of Data, Analytics and Technology". deloitte.wsj.com. Retrieved 2020-11-05.
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Further reading
- Ganguly, Saptarshi; Harreis, Holger; Margolis, Ben; Rowshankish, Kayvaun (February 2017). "Digital risk: transforming risk management for the 2020s". mckinsey.com. McKinsey & Company. Retrieved 2018-05-06.
- Girotra, Karan; Netessine, Serguei (2014). The risk-driven business model: four questions that will define your company. Boston: Harvard Business Review Press. ISBN 9781422191538. OCLC 858730958.
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