Almost every week, there is a news story about the failure of risk management and the resulting impact, both financial and non-financial. Some of these are operational failures – cyber breaches, regulatory issues, fraud; others are strategic – strategic goals not achieved, reputational damage to the brand, etc. In many cases, there may have been ignored warning signs – and in some instances, the risk events were unanticipated.

Effective risk management is how organizations can 1) become more proactive in identifying and managing key risks (strategic resiliency) and 2) get more (operationally) resilient if risk events, known or unanticipated, impact them.