Webinar Training

Integrating Risk Management with Business Strategy

Integrating Risk Management with Business Strategy

Archived
60 Minutes
Available OnDemand for Premium Members
Key business decisions impact both the strategy definition and the execution. Without integrating risk management frameworks within the decision making process, organizations will always struggle to align risk management with their business strategy and objectives.

This seminar will cover:

  • Key stages of a business decision making process
  • Key stages of a risk management framework
  • Integrating risk management stages within the business decision making process
  • Examples where failure to align risk management with business strategy can have unexpected adverse consequences

Background

In the wake of the global financial crisis, as well as recent information security incidents such as the Heartland Payment Systems data breach, banking institutions are re-dedicating themselves to the sound principles of risk management. But with a difference. Now the primary focus is on improving alignment of risk management with business strategies.

Example: A recent risk management survey by Ernst & Young highlights that 85% of the respondents would like to focus on "Improving the alignment of our risk management approach with our business strategy and business activities."

In another survey, prepared by the Economist Intelligence Unit on behalf of SAS, more than half of respondents say that they have conducted, or plan to conduct, a thorough overhaul of their own risk management practices. Among the key focus areas:

  • Improvements to data quality and availability;
  • Stronger risk governance;
  • A move toward a firmwide approach to risk;
  • Deeper integration of risk within business lines.

But how do organizations improve their risk management practices and achieve that level of integration? That question is the foundation of this webinar.

This session will focus on integrating risk management framework within the business decision making process. Leading this discussion will be Clark Abrahams, a former bank executive who now is Chief Financial Architect at SAS, and Manoj Kulwal, Global Product Manager for Governance, Risk and Compliance (GRC) Solution at SAS. Together, these thought-leaders will lay out a discussion and examples of risk management/business alignment that touches upon:

  • The key stages of business decision-making and the risk management framework;
  • How to integrate risk management in business strategy;
  • What's at risk if you fail to align?
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