tfpl blog: Enterprise Risk Management Meeting- September

I recently attended the September ERM meeting; speakers were John Summers, Chief Risk Adviser at Rio Tinto and Neil Allen, Director at Systemic Consult Ltd, the discussion was about the connectivity between different risks within the same company and how they can affect each other; it was discussed that the need to understand how risks are connected and how many connections a risk has is essential in helping identify the key risk areas within a business; the strength of the connection also has to be taken in to account representing the likelihood of the risk coming to fruition and having an effect.

In conclusion I feel that the analysis of risk connections is a very usefully tool to aid the Risk Manager in identifying key risk areas that may previously have been seen as low risk on their own could have a large number of connections that could cause a domino effect throughout other areas of the company.

Source: http://blog.tfpl.com/tfpl/2012/09/enterprise-risk-management-meeting-september.html

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