The Power of a Business-Integrated Risk Management Approach

Wednesday 09/18/2024 12:00 pm EDT

In the dynamic landscape of today’s digital age, organizations confront a myriad of challenges. From interconnected supply chains, to globalization, technological advancements, and the emergence of risks such as cyber threats, ESG mandates, geopolitical instability, and global pandemics, the landscape is evolving at an unprecedented pace.

Organizations must navigate these challenges while also managing their own internal complexities with diverse business lines, large administrative bureaucracies, complex and fragile IT infrastructure, massive data environments, extensive vendor relationship, and evolving customer needs.

Want to drive your transformation through process? You'll need to establish a process capability to be the engine that drives this approach.

To thrive in this environment, organizations require a formalized approach to risk management so that they can proactively identify, assess, and mitigate potential risks. Their risk management approach must ensure resilience, regulatory compliance, and strategic decision-making in an increasingly complex and interconnected landscape.

Many organizations, especially in highly regulated industries, struggle as the ability to maintain high quality risk data and their struggles maintaining clarity in the risk programs roles and responsibilities results in unacceptable risk for their customers, their business, and the markets that they serve.

Process is the key to tackling these challenges by providing consistent business context, or “what” the business does, to provide alignment across all risk types, all stakeholders, and to maintain high quality data.

Topics Covered

  • Overview of Transformation Challenges
  • The Process Inventory Framework
  • Risk Data – How process becomes the “ground truth” for managing all risk types.
  • Risk Operating Model – Process provides alignment across a broad set of stakeholders
  • Solutions to common risk types:
  • Operational Risk: Managing the risk of performing your day-to-day business.
  • Compliance Risk: Ensuring that your organization complies with relevant laws and regulations.
  • Operational Resiliency: Ensuring that you can maintain a minimum level of operations in the event of a disruptive event.
  • Third Party Risk Management: Controlling the risk in the vendors that support your business.
  • Risk Reporting - Providing executives and external regulators an accurate picture of the risk environment

Earn 1 PDU/CDU credit when you attend live on Zoom!


Presented by:

MichaelSchank square

Michael Schank, Founder and Managing Director, Process Inventory Advisors

Michael is a distinguished thought leader and executive, specializing in addressing Digital Transformation and Operational Excellence challenges through his innovative, process-based framework. With over 25 years of experience in the Financial Services industry, he has primarily served as a management consultant, empowering clients with forward-thinking solutions in technology, process, and risk and spearheading large-scale business and digital transformations. Michael brings a powerful combination of superior sales and delivery skills, having personally sold and delivered over $100M in transformation services. He is the author of the book, ‘Digital Transformation Success,’ in which he introduces his groundbreaking Process Inventory framework. This promises to be a transformative approach to achieving success in the digital era, unlocking unprecedented levels of operational efficiency and strategic alignment. The book is available on Amazon.

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