Creating a robust ERM framework in the era ofdigital disruption, market instability, and newregulatory compliance
Post-Conference Workshop: Wednesday, 1 July 2020
9:45 am - 9:45 am
Registration and networking
9:55 am - 10:00 am
Opening remarks
OVERVIEW
The COVID-19 was a reminder of how important, serious and crucial, a risk leader and a risk management strategy in an organisation is. Just 12% of more than 1,500 respondents believe their businesses are highly prepared for the impact of coronavirus, while 26% believe that the virus will have little or no impact on their business, according to a recent survey by Gartner, Inc. A month into this pandemic and it is clear that not only should they have been better prepared, but also the virus is having a much larger impact on their business than they thought.
The key challenges in a risk such as the COVID-19 were many. There was clearly a failure to acknowledge the potential impact of a serious Pandemic as well as perhaps failing to accept or discuss that any scenario that involved shutting down a country was even possible. This coupled with the question on when to activate the plans and the fact that plans were not flexible enough in the first place make it easy to see why organisations have struggled so much.
THE PANDEMIC AND IMPACT ON RISK MANAGEMENT FOREVER
10:00 am - 11:30 am
COVID-19 - WHAT HAVE WE LEARNED AND HOW CAN WE BETTER PREPARE FOR THE NEXT GLOBAL RISK
Alexander Larsen -
President,
Baldwin Global Risk Services Ltd.
Having an ERM practice in place should provide planning, support and better decision making enabling organisations to react to risks more swiftly and effectively.
The half day workshop will focus on the lessons learnt from the COVID-19 pandemic and how we can better prepare for the next major global risk.
What will be covered?
- The impacts of Covid-19
- How did various countries act and which had success with their strategy?
- Lessons learned from Covid-19
- Could we have predicted this?
- How can organisations be better prepared in the future
Scenario planning
Horizon scanning
Business continuity
Risk culture
Pandemic planning
- How can governments be better prepared in the future?
Equipment, hospitals and investment in risk management
Crisis communication plans
Risk appetite and objectives
11:30 am - 12:00 pm
Break
11:30 am - 1:00 pm
PANDEMIC WORKSHOP PART II - RAPID RESPONSE IN THE MANAGEMENT OF RISK
Horst Simon -
Risk Culture Builder and Business Risk Officer,
Capricorn Investment Group
What will be covered?
- Lessons we learned from the past
- COVID-19 and Rapid Response Lessons
- The New Normal for the management of risk
- The Future of Risk Management
