Managing Risk is more than the Framework and Compliance…
An observation:
Businesses seem more focused on complying with the framework than managing the risk.
As a profession, we have the opportunity to shift our focus. We can move away from singularly relying on/thinking about the frameworks and compliance and, instead, embrace new thinking, mindset, and decision-making. This is where the future, I submit, of Risk professionals lies. Conventional wisdom is that it is the leaders who need to own this problem, but the Risk professionals are the ones who can truly make a difference here. However, that would involve introducing behavioral risk management and people (human capital) risk into the risk framework, and conversations are key.
Please let me know what your thoughts are.
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