VIEW: Forging ahead in challenging times

I would like to wish you all a Happy New Year. The year has got off to a difficult, but not entirely unexpected, start. Many countries are back in lockdown due to the pandemic, but with the vaccine rollout on the horizon, there is a light at the end of the proverbial tunnel. In the UK, the post-Brexit landscape has changed how people and goods move between the UK and mainland Europe. This will undoubtedly be keeping those of you dealing with supply chains busy as you navigate the new ways of working and ensure business continuity.

The IRM has set up a special interest groups for both Brexit, and pandemic risk, details of which can be found on our website. Risk professionals have never been so busy and pivotal to the survival of organisations globally; risk management has been at the heart of the global response and our profession is firmly in the spotlight. Your competence and resilience have been tested like never before and lessons have undoubtedly been learnt. We’ll be releasing the findings of a follow up to our survey of the global risk management response to the pandemic shortly. We will also be publishing our annual risk predictions, now called our Risk Outlook, for 2021 soon.

Since merging with the Institute of Operational Risk, I am really pleased to see the quality of the work carried out by that Institute at close range. The IOR is releasing the final three documents in its series of Sound Practice Guidance documents, which now include: Operational Risk Governance; Risk Categorisation; Risk and Control Self-Assessment; Risk Culture; Risk Appetite; Embedding an Operational Risk Management Framework; Operational Loss Events (Internal and External); Operational Risk Scenario Analysis; Stress Testing & Reverse Stress Testing); and Key Risk Indicators.

Enrolments for the June 2021 exam sessions are now open until the 31st January. Certificates cover: ERM, Financial Services, Supply Chain and Digital Risk. The Certificate in Operational Risk is also open for enrolment via IOR’s website.

Stay safe and ensure your organisation is fully prepared for the challenges that 2021 will no doubt bring.

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