Gone are the years of simplicity in business operations. The interconnectedness of objectives, risks, resilience, and integrity require 360° contextual awareness of risk and resiliency. Organizations need to see the intricate relationships and impacts of objectives, risks, processes, and controls. It requires holistic visibility and intelligence into risk and resiliency.
Organizations take risks all the time but fail to monitor and manage this risk effectively in an environment that demands agility. Too often risk management is seen as a compliance exercise and not truly integrated with the organization’s strategy, decision-making, and objectives. It results in the inevitable failure of risk management, providing case studies for future generations on how poor risk and resiliency management leads to the demise of organizations – even those with strong brands.
Organizations need complete 360° situational awareness and visibility into their processes, operations, objectives, and risks. What complicates this is the exponential effect of risk on the organization. The business operates in a world of chaos, and even a small event can cascade, develop, and influence what ends up being a significant issue.
Dissociated siloed approaches to risk and resilience management that do not span processes and systems can leave the organization with fragments of truth that fail to see the big picture across the enterprise, as well as how it impacts their strategy and objectives.
The organization needs visibility into objective and risk relationships across processes. The complexity of business and intricacy, as well as the interconnectedness of risk data, requires that the organization implement an enterprise view of risk and resilience monitoring, automation, and enforcement.
This GRC Red Flag series will focus on how successful risk and resilience management requires the organization to provide an integrated strategy, process, information, and technology architecture.
The goal is a comprehensive straightforward insight into risk and resilience management to identify, analyze, manage, and monitor risk in the context of operations, processes, and services.
It requires the ability to continuously monitor changing contexts and capture changes in the organization’s risk profile from internal and external events as they occur that can impact objectives. As a result, organizations are measuring their current state and planning toward a future state of increased risk and resilience maturity in the organization.
Our host Michael Rasmussen
Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 27+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” – being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.
Our focus is operational resilience – encompassing business continuity, risk management, IT risk, and crisis and incident management. Fusion seeks to help companies anticipate, prepare, respond, and learn in any situation by equipping them with the software solutions they need to be successful. We empower organizations by allowing them to make data-driven decisions so that leaders can proactively manage what’s to come. And with Vista Equity Partners, we have the resources to continue expanding in all areas of the growing market.