Tietoevry’s Post

In today’s changing world, Diversity, Equity, and Inclusion (DEI) are critical not only for fostering an ethical workplace but also for enhancing how organizations tackle risks. This isn’t just a task for risk managers - it’s a core part of doing business effectively. Regardless of your position, understanding and leveraging DEI can make a difference in your organization's success. 💪🏼 Heidi Alho, Tietoevry's Corporate Risk Manager tells more in her blog! ⤵️ #riskmanagement #DEI #tietoevry

🌟Turning challenges into opportunities: Exploring the role of risk management in fostering innovation and growth.🌟 In today's ever-evolving landscape, challenges are not roadblocks but rather catalysts for innovation and growth. It's the approach to risk management that determines whether these challenges become stumbling blocks or stepping stones. By embracing a proactive stance towards risk, organizations can uncover untapped opportunities and propel themselves towards success. Risk management isn't just about mitigating potential threats; it's about seeing beyond the obstacles and identifying the possibilities they present. It's about fostering a culture where calculated risks are viewed as avenues for innovation rather than sources of fear. Innovation thrives in environments where risks are acknowledged and managed effectively. By systematically assessing and addressing potential risks, organizations create a fertile ground for creativity to flourish. Every challenge becomes an opportunity to think outside the box, experiment with new ideas, and push boundaries. Moreover, strategic risk management enables organizations to adapt swiftly to changing market dynamics and seize emerging opportunities. It empowers them to navigate uncertainty with confidence, knowing that they have the tools and processes in place to pivot when necessary. Ultimately, the role of risk management in fostering innovation and growth is paramount. It provides the framework for turning challenges into opportunities, guiding organizations towards bold endeavors and sustainable success. By embracing risk as an integral part of the journey, organizations can unlock their full potential and thrive in today's dynamic business landscape.#RiskManagement #Innovation #GrowthMindset

While this article may be a few years old, its discussion on fostering a comprehensive risk culture within organizations remains highly pertinent today. Embracing diverse perspectives and forward-thinking approaches is crucial for navigating contemporary challenges and ensuring organizational resilience. https://lnkd.in/e-b_ZCXu

The Rise of Risk Management (for the n-th time since GFC2008 !!! 😁👍) Corporate America has rediscovered Risk Management, as reported by Forbes, so the rest of the world will also take notice. Extract -- // The rise of Risk Management. Risk management, or the process by which companies and institutions identify, evaluate, and mitigate their exposure to potential losses or liabilities, has been a noncontroversial aspect of corporate governance for as long as businesses have existed, and more emphasis continues to be placed here by corporate boards and leaders. While regulatory and judicial bodies have evolved their thinking about what constitutes a “material risk,” (those risks that need to be disclosed to investors and the public), the basic concept of identifying vulnerabilities and taking action to avoid or contain those risks is a basic tenet of good business practice and critical to the survival and growth of all enterprises. Arguably, corporate efforts to identify and mitigate risks associated with climate change, changing demographics, quality of life issues in communities, and workplace policies and practices are all essential and generally accepted as important priorities for institutional leaders and will remain so. Expect to see more instances where these ESG and DEI strategies are framed as managing risks associated with doing business rather than as free-standing programs and priorities.// https://lnkd.in/gnGuBfDE #riskmanagement #strategicrisk #enterpriserisk #codeofconduct

Shifting #risk dynamics prompt discussions on adapting corporate #governance principles to enhance #riskmanagement. Corporations study peers' risk handling to avoid pitfalls, noting underestimated costs and time for recovery. Evolving risk dialogues lead to broader risk considerations in governance. Effective governance identifies and counters risks, limiting losses and damage, supported by boards' supervision. Corporate governance shapes risk strategies, fostering intelligent risk-taking for better outcomes.

I’ve had a bit of time on my hands so have thrown together a rough summary, based on experience etc, to explain why #riskmanagement is important. Successful organizations understand that risk management is more than just a compliance exercise—it's a powerful driver of strategic delivery. Embracing proper strategic risk management enables companies to seize opportunities, navigate uncertainties, and propel themselves towards #sustainable growth. 1. #proactive Decision-making: Strategic risk management empowers leaders to anticipate potential roadblocks and proactively make informed decisions. 2. Maximizing #Opportunities: Every business venture comes with inherent risks, but those who dare to embrace strategic risk also unlock immense opportunities. 3. #agility in Uncertainty: In today's volatile world, change is constant. Strategic risk management equips organizations with the agility to adapt swiftly to unforeseen circumstances. 4. Enhancing Stakeholder #Trust: Stakeholders, including customers, investors, and employees, seek assurance that their interests are protected. 5. Nurturing #Innovation: Embracing risk fosters a culture of innovation. Organizations that encourage calculated risk-taking are more likely to attract creative minds and foster an environment where bold ideas thrive, leading to breakthrough innovations. 6. Sustained #growth and longevity. By treating risk management as a strategic imperative, organizations create a solid foundation for sustained growth and long-term success. Strategic risk management enables them to weather storms, pivot when necessary, and maintain a competitive advantage. Proper #srm is much more than mitigating threats; it paves the way for organizations to reach their full potential. Embrace risk, make it a core part of your strategic planning, and thrive! #StrategicRisk #RiskIsOpportunity #FutureReady #RiskManagement #StrategicDelivery #OrganizationalSuccess

As the conversation around risk intensifies, corporations are taking a broader-based approach toward corporate governance principles to account for more diverse risk types. Check out these tips.

If you had told me five years ago when I took on this role that I would see a magazine headline touting "the rise of risk management" I would have laughed. Long marginalized as a compliance-driven, box-checking crusade of bureaucrats, it looks like risk management is finally having its day in the sun. And I say it's about time. Everything that could get in the way of your organization achieving or growing its mission is a risk. So understanding what those potential obstacles are, and trying to move past them, is an endeavor worth focusing on and investing in. And using it as a framework to prioritize and identify connections between other challenges/opportunities, like DEI and ESG, is just more efficient. Is your organization ready to jump in? #riskmanagement #enterpriseriskmanagement https://lnkd.in/dt4jm7kc