Understanding the changing enterprise and operational risk exposures
Operating in a business world impacted by COVID brings considerable uncertainty, and a range of associated challenges. These can be externally imposed such as changing market conditions, government policy, and stakeholder and community expectations, or internally driven such as changes in human resource expectations and management.
Predictably many organisations are placing considerable effort in either modifying, or developing new, organizational arrangements and business processes to manage these challenges. Astute business planning has never been more important, including the critical task of identifying, and managing, the new risks of operating in a COVID impact business world.
It is essential therefore, to undertake a (re)assessment of enterprise and operational risk exposures to ensure new uncertainties are understood, and that the necessary controls and actions are in place to manage these evolving new exposures.
It is equally important, and often overlooked, to ALSO understand how these new, or modified, organizational arrangements and business processes may impact other operating areas of your organization – the unintended consequences of a COVID modified business environment.
Where are you on this COVID risk response spectrum?
Riskcom has extensive experience in working closely with Boards, senior executives and operational teams, within the public and private sectors, and not-for-profits, to facilitate business risk assessments, and assist in the identification and implementation, of effective risk controls. If you would like additional information or assistance, please contact us at Riskcom on +61 3 9415 1987 or at www.riskcom.com.au
