Risk Management as a Competitive Advantage (webinar)
With increasing pressure on companies to deliver results, risk management has become central to a company’s ability to compete. When working on the strategic objectives of a company, one should always consider both sides of the coin and think about opportunities just as much as risks and threats. In doing so, a company can understand these risks and learn how to mitigate and avoid them.
Just as humans need to consider risks – we do not jump into the lions’ den at the zoo or cross the road without looking – humans working together (e.g., companies), need to have a collective way to consider risks. The more individuals work together, the stronger the need to have a formalized approach and agreement on the amount of risks to take onboard. The current global pandemic is an example of an event some companies had already considered. The crisis has drawn additional attention to risk management.
Risk management, as a discipline, deals with identifying, assessing, controlling, and monitoring risks for an organization, including its profits and capital. It helps organizations make decisions based on a clear strategic vision, including how much risk they are willing to take up.
Risks are all around and can originate from many sources, for example issues with people and culture, processes, in terms of governance, systems, including cyber security, AI, etc. and external sources, such as outsourcing to others. Risks can also include not being able to collect debt in time (credit risk), not having enough money in the bank (liquidity risk), financial markets moving up and down (market risk), having the wrong strategy (strategic risk), among others.
One common misunderstanding is that risk management is all about avoiding risks. The only way to avoid risks is to close a company. Risks represent opportunities and managing them is a key component in the pursuit of a successful business strategy, to improve internal and external stakeholder satisfaction and secure anticipated profit.
In this webinar, risk expert Michael E. Jensen will go over some general trends and explore risk management as a competitive advantage.
The key takeaways from the session are:
- Better understanding of risk management and its benefits
- Tools to manage risk better
- Understanding of current trends in risk management
About the speaker:
Michael E. Jensen is the CEO at Global Risk Clinic, an advisory partner in Governance, Risk and Compliance (GRC). As a Risk Management Advisor, Michael provides measurable value and training to companies globally and delivers tailored, immediate, and effective cost saving solutions for clients. Utilizing the full lifecycle GRC methodology, he helps clients achieve strategic objectives.
Michael has an MBA from Loyola Marymount University in the US paired with executive education from Harvard Business School. Since his MBA, Michael has worked with risk management in many capacities in Danske Bank, Rabobank, Saxo Bank and latest as the Global Head of Operational Risk at Fidelity International until he became the CEO of Global Risk Clinic in 2018, where he works clients globally as an advisor and educator.
17:00 Welcome by CBS MBA Alumni Society
17:05 Talk by Michael E. Jensen
Link to participate: will be sent to you upon registration
Registration: Please remember to register before May 25 2020 at 12:00.
Questions or cancellations? Please contact us at firstname.lastname@example.org.
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