52 Risks Framework
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Recent Risk Governance Lessons – April 2022 News & Updates
This month's newsletter focuses on Crown Resorts’ risk governance lessons and how to develop a more robust approach to cyber security.
Operational Risks
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Doing a Risk Management Stocktake
Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters. Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place. Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.
Financial Risks
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Ten Important Financial Risks
This article outlines ten important financial risks that may arise for many – if not all – businesses in an economic downturn. Even in buoyant economic times, however, these financial risks need to be closely monitored and assessed.
Latest Posts
Risk Management Article: Winning Hand
The recent events surrounding Australia’s Crown Resorts casino operator highlight the perils of not having embedded and effective risk governance and oversight. The “Winning Hand” article for the Australian Institute of Company Directors magazine highlights how boards and executive teams can avoid a ‘lite’ approach to risk governance and risk management.
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Risk Management Article: Stress Rehearsal
Scenario planning and stress testing are two tools that directors and executives should be regularly using to support and guide their decision-making process.
52 Risks Creator and Founder, Peter Deans, recently published an article titled “Stress Rehearsal” for the Australian Institute of Company Directors magazine on the use of scenario planning and stress testing. The article discusses how these tool can assist assess the risks and opportunities arising from climate change and other emerging risks
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Top 12 Geopolitical Risk Resources
There are many sources of detailed country risk analysis, assessments and ratings on the internet to assist business leaders stay abreast of geopolitical issues and risks. This post lists twelve of the best sites to visit.
Read More Doing a Risk Management Stocktake
Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters.
Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place.
Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.
Managing Risk Can be Easier Than You Think
Getting started in risk management or uplifting existing capability can be daunting for any business, irrespective of size or industry. This post outlines six steps for improving the management of risk using the 52 Risks® framework.
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Have You Identified and Documented All Business Risks ?
Business owners, boards and managers should ensure that they have a detailed understanding all the risks their business faces. This should include all strategic, financial, and operational risks. This understanding should be underpinned by a rigorous and documented risk identification, assessment, and management regime.
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Challenging times ahead for the residential property market.
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A neat infographic from the Visual Capitalist last week - inflation and interest rates on a page.
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