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RISK MANAGEMENT BLOG

4 Ways to Manage Supply Chain Risks

85% of surveyed global chains experienced at least one supply chain disruption risk in 2017. Deloitte has shown that organizations who proactively manage supply chain risk spend 50% less to manage disruptions.

As always, proactive risk management is more cost efficient than reactive action. An efficient supply chain is essential for the production of quality products and effective customer service.

Topics: supply chain risk management supply chain risks

Legality, Frequency, Severity... Why You Should Manage Cyber Risk Now

Last week, we presented 8 best practices for managing cyber risk. Now we're going to explain why it's so crucial to implement these strategies today. As technologies advance, risk teams are in a constant battle to protect their organizations against new threats. The most recent trend to gain attention is cyber risk. In a 2018 survey conducted by Risk.net, areas of cyber risk ranked #1 and #2 on a list of top ten operational risks.

Topics: cyber risks data privacy how to manage cyber risk

The Top 8 Risks to Manage in 2019

Each year, risk management gains more importance in the eyes of executives and employees across organizations. 2019 will be no different. As the year progresses, expect the true value of risk management to be realized and for it to become a greater priority for many boards. Along with this growth, there will be new trends that increase in importance over last year. With this in mind, here are the top 8 risk trends for 2019. Keep an eye on them and their mitigation strategies to ensure continued success.

Topics: top risks of 2019 risk management trends risk management 2018 risk management 2019 risk trends 2019

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

4 Topics That Must Be Included in Employee Training

The importance of employee training is obvious; any successful risk manager knows that employee training is a direct way to prevent incidents. Whether to help improve job performance, minimize workplace incidents, or create a set of standard practices, employee training should be a top priority of any business.

However, some organizations aren’t entirely sure of what aspects should be included in employee training, and what knowledge they can reasonably expect the employee to have.

In this article, we’ll cover the major topics that should be included in employee training, and breakdown what specific knowledge any employee should know.

Topics: risk management training employee training employee risk big picture risk management

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