Risk Awareness Week is back from October 17, with over 40 workshops sharing the latest in risk management thinking. The five-day-long schedule includes sessions from 32 of the best risk management 2.0 practitioners in the world, sharing everything from practical case studies to model demonstrations.
With less than a month to go, we identify four things you’ll learn if you attend Day One of this year’s #RAW2022.
Understand the future of risk management
This year, risk awareness week kicks off with a session by Alex Sidorenko, head of operational risk and insurance at EuroChem. Alex will set the tone for the whole week by exploring some of the key future trends that risk practitioners must be aware of. He will also share his journey to integrate decision science and quantitative risk analysis into insurance, investment decisions, strategic planning and procurement. Register here.
In a later session, Norman Marks, author, thought leader and retired CAE and CRO, will argue that we need a new definition of risk management. He says that instead of focusing on the effects of uncertainty, risk management must help people make the business decisions necessary for success.
He will talk about the need to provide ‘actionable’ information that goes well beyond a risk register, heat map, or even the quantification of individual risks. Register here.
How to sell risk management at the board level
Day one of Risk Awareness Week primarily focuses on how to get Board- and Executive-level buy in for risk management. One key highlight is a panel workshop led by David R. Koenig, President and CEO of The DCRO Institute and author of Governance Reimagined: Organizational Design, Risk, and Value Creation and The Board Member’s Guide to Risk.
The panel members are:
- Darlene Halwas, board member at Carbon Management Canada
- Angela Hoon, SVP audit, risk & asset protection at Advance Auto Parts
- Cristina Martinez, group chief risk officer at SACYR
Throughout the session, participants will share the lessons they’ve learned when implementing risk management within their organizations, including board and management resistance, restrictive regulatory requirements and lack of resources dedicated to risk management implementation. Book your place here.
A later session will help you articulate the measured benefit of your risk management process. Doug Hubbard, author of How to Measure Anything will help you answer questions like: ‘Is collaboration making estimates getting better or worse?’ and ‘What is the return on popular business ideas like Agile, Six Sigma, data science, or machine learning?’ Register here.
Risk professionals can be their own worst enemies, when it comes to using esoteric language, counterproductive communication, and outdated leadership strategies. This often means practitioners struggle to get the budget, resources and support they need.
To overcome these challenges, join OCEG founder & CEO, Scott Mitchell as he presents research and practical steps to be a more effective leader, communicator, and persuader of risk-related ideas, decisions, and actions. Register now.
How to use risk management to improve decision making
Day one also includes several case studies and teach-ins that show you how to make sure that risk management actually improves decision making at the senior level.
For instance, a workshop by Roger Estall and Grant Purdy, directors at Sufficient certainty, are running a jargon-free session that shows you how to test, monitor, and diagnose the quality of decision-making practices at your organization. You will also learn how to address the strengths and weaknesses that are discovered through the use of diagnostics. Register here.
Using excel to improve risk management
Excel can be a powerful tool in the right hands and with the right add-ons and analysis. Fortunately, we have several sessions including practical demonstrations that will help you leverage excel to improve your risk management practices.
For instance, Dr Sam Savage, executive director at ProbabilityManagement.org, will share how the ChanceCalc add-in lets you use Excel to evaluate chance. He will demonstrate examples involving the chance of a project being late, the chance that a capital investment will lose money and the chance that a hospital will run out of PPE in a COVID surge. Register here.