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ERM: transitioning from risk to resilience

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The nature of modern risk, with its unknown origins, and the scale of its potential disruption, makes traditional approaches to risk i.e.

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Enterprise Risk Management (ERM) has been undergoing change for some time. In a book titled Team of Teams (2015), the Foreword stated that ‘Management models based on planning and predicting instead of resilient adaptation to changing circumstances are no longer suited to today’s challenges.’ The impact of Covid-19 has simply accelerated that change. The nature of modern risk, with its frequently unknown origins and the scale of its potential disruption, makes traditional approaches to risk i.e. structured, standardised, and historical, appear redundant.

This webinar will examine what a fresh approach may look like. The need to improve horizon scanning (situational awareness) with better early-warning systems on, say, disease and migration; the requirement to focus on sustainability and mitigation based on consequences rather than causes; the desire to find better ways of enhancing preparedness – the new competitive advantage – and boost deterrence are all urgent issues. The imperatives suggest that a revised acronym could stand for Enterprise Resilience Management.

This hour-long event is the forerunner to a whitepaper for release in Q1 2021.

Chair:

Bob Sibik, Co-Founder and Senior Vice President, Fusion Risk Management.

Speakers:

Lord Harris, President of Institute for Strategic Risk Management and Advisory Board Member of Resilience First.

Dr Pippa Malmgren, former US Presidential advisor and a prominent public speaker.

Thomas Wallace, Partner in London, McKinsey and Company.

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