The business world has spent the month coming to terms with the ongoing COVID-19 pandemic and its economic fallout. Many businesses are still in the eye of the storm dealing with the myriad of operational and financial risks, in crisis management mode. Others are now undertaking short-term planning; others are focusing on (and wishing for) a better 2021.
It has been a busy month for 52 Risks®. The focus continues to be on the challenging times facing all business and communities dealing with the COVID-19 pandemic and its short, medium- and long-term implications. Pleasingly, there is strong interest in the risk management profession, with both the mainstream and industry media keen to learn more about the better management of risk. Reflecting this interest, several articles I wrote were published during the month:
‘The Big COVID Blind Spot. Why lack of Risk Management is leaving us wanting’.
Singularity University (SU) is a US-based, global learning and innovation community. It was founded in 2008 and its mission is to educate, empower, and inspire leaders to leverage exponential technologies to solve humanity’s grand challenges. I wrote an article for SU on how boards and CEOs can use this period as a catalyst to strengthen risk management in their organisations.
https://singularityhub.com/2020/04/24/the-big-covid-19-blind-spot-lack-of-risk-management-is-leaving-us-wanting/
‘Long-term focus needed for organisations in COVID-19 recovery’ AICD Company Directors Magazine Article.
AICD invited me to write for the magazine’s feature edition on COVID-19 this month. I discuss how the external shock from the pandemic will force organisations to keep a focus on changing scenarios and financial fundamentals in order to survive.
https://aicd.companydirectors.com.au/membership/company-director-magazine/2020-back-editions/may/long-term-focus-needed-for-organisations-in-covid-19-recovery
‘Operational Risk Management in a Period of Disruption – Will Normal Programming Resume Shortly?’
In a guest blog article for Julian Fenwick and the team at GRC Solutions this month, I outlined 8 key actions and focus areas for operational risk & compliance teams at banks and financial institutions, in response to the COVID-19 pandemic.
https://grcsolutions.com.au/operational-risk-management-period-disruption-will-normal-programming-resume-shortly-blog/
I am also on twitter. For those that do not have a twitter account, I would encourage you to sign up. The early signs of a problem in Wuhan could be readily seen on many of the business and news blogs on twitter all though January. Use of hashtags can assist you to see what is happening on the ground anywhere in the world very quickly (with a bit of sorting through the noise on twitter).
Peter Deans
