Global financial institutions must manage risk more actively if they are to succeed with the digital transformations necessary to keep them relevant and competitive. This is the warning from operational risk association, ORX whose latest report, Right Time, Right Place, explores ways in which operational and non-financial risk management functions can support vital transformations.

The pandemic put a stop to the world as we knew it.

The global pandemic continues to cause uncertainty for businesses, and risk managers remain at the forefront of ensuring organisations survive and adapt. There’s currently a lot of focus in the UK on the risks associated with a return to the workplace, but this is only one specific aspect of the much bigger challenge of adapting to ongoing, unpredictable change.

There are numerous and clear warnings that cyber attacks are on the rise, and that attackers are launching precision strikes against firms thought likely to pay ransoms and offering weak defences.

Airmic has announced the appointment of Claire Combes as its next chairman. Ms Combes will succeed Tracey Skinner from 1st September 2021. Ms Combes has been an Airmic member for 20 years and joined the board in 2016. She is chair of the Risk Management Steering Group and also sits on the association’s Audit Committee.

Pool Re’s specialist terrorism risk division Solutions has launched the second in a series of sector risk reports which identifies a number of potential terrorist threats to the retail and hospitality sector.