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RISK MANAGEMENT BLOG

Rebecca Webb

Recent Posts by Rebecca Webb:

10 Reasons Risk Management Matters for All Employees

Risk managers know the purpose of their role and the value they bring to any organization. However, other employees may not understand what the risk department does or the widespread benefits of their strategy and actions. In many cases, they might be unable to accurately define risk management! This creates a problem. It’s harder for risk managers to get the buy-in to implement mitigation procedures when risk management isn’t common knowledge. To illustrate the importance of risk, here are 10 reasons all employees should care about risk management. We encourage you to share this with your team!

Topics: importance of risk management why is risk management important risk management impact on success

12 Challenges of Data Analytics and How to Fix Them

Data analytics are extremely important for risk managers. They improve decision-making, increase accountability, benefit financial health, and help employees predict losses and monitor performance. Not convinced? Check out two of our blog posts on the topic: Why All Risk Managers Should Use Data Analytics and 6 Reasons Data is Key for Risk Management.

However, achieving these benefits is easier said than done. There are several challenges that can impede risk managers’ ability to collect and use analytics. Fortunately, there’s a solution:

Topics: data analysis risk management data analytics for risk management challenges in data analytics

6 Challenges and Solutions in Communicating Risk Data

Risk data includes information regarding risks, claims, incidents, losses, and mitigation strategies in an organization. While risk data is important to the success of the organization as a whole, it can sometimes be difficult to stress its importance to employees who don’t realize the impact it has on decision-making, processes, and financial savings. (If they need extra convincing, show them our blog post on 10 Reasons Risk Management Matters for All Employees!)

When staff have multiple tasks to complete, submitting data to the risk department may not take priority, which can limit the effectiveness of the organization. 

How can risk managers and other staff members overcome issues when communicating risk data? The answer is simple: with technology. Let’s tackle each of the challenges and illustrate their technology-based solution.

Topics: risk data risk communication challenges of risk communication risk data communication how to communicate risk

4 Types of Data Analysis for Risk Managers [Video]

Over the past few weeks we've been covering topics such as "6 Reasons Data is Key for Risk Management", "Why All Risk Managers Should Use Data Analytics", and "Data Analysis Steps for Risk Managers". Data has been deemed today's most valuable asset: the "oil of the digital era". Now, let’s delve into some types of analysis that may be particularly helpful for your organization or risk team. 

Topics: risk management data analysis data analysis risk management

9 Steps for a Smooth Risk Management System Implementation

You’ve recognized the need for a risk management system, evaluated vendors’ products, and chosen the system that’s best for your organization. It may seem like the work is done, but there’s still a significant challenge ahead: the implementation of the system.

This step is arguably the most important: failure to smoothly implement a risk management system will make it much harder to achieve success. Before beginning implementation, consider the following advice:

Topics: risk management system implementing risk management begin managing risk smooth system implementation

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