Over the past two decades, the concept and practice of risk management has grown and matured significantly. However, it has done so in very inconsistent ways, with different organisations and industries creating their strategies and defining them differently with different responsibilities, authority, role, tolerance levels and interrelationships for internal controls, risk management, enterprise risk management and strategic risk management.

The COVID-19 was a fine reminder of the importance of ERM to organisations. Due to the evolving nature of risks and growing impact of incidents, the CRO in a boardroom is more influential and responsible than ever. Investing in risk management tools and strategies is no more to just identify and mitigate risks but also to create incremental value and business opportunities, from both a financial perspective but more from a reputational and culture perspective.

Moreover, there has been little discussion of how these considerations are to be related to the overall performance, objectives and resource allocations of organisations.

This panel will discuss how the sound ERM strategy can link all of these topics and related concepts into a management framework effectively while delivering maximum stakeholder value for enterprises.

Key risk indicators (KRI`s) are vital predictors of unwanted events which can impact organisations in a negative way.

Understanding the power of the key risk indicators, how to define and develop them leads to the increase of the organisation’s risk appetite.

Key question – Do you know key indicators combined with risk appetite can contribute to make better decisions?

• Creating a comprehensive risk appetite framework
• Understanding and developing key risk indicators (KRI)