RMIA's Fourth Instalment in our 2024 CRO Luncheon Series
2024 CRO Luncheon Series | Key Insights
On Wednesday 26 June, the Risk Management Institute of Australia (RMIA), in collaboration with Ansarada, hosted a highly engaging Chief Risk Officer (CRO) luncheon in Brisbane. The event brought together industry leaders to discuss critical topics shaping the future of risk management.
Operational Resilience
A significant portion of the discussion focused on operational resilience. Participants underscored the importance of building systems and processes that can withstand and quickly recover from disruptions. The conversation highlighted practical strategies for enhancing resilience and ensuring continuity in the face of unforeseen challenges.
The Role of the Chief Horizon Scanner
An intriguing concept explored was the role of the Chief Horizon Scanner. This emerging role involves taking a strategic, long-term view - spanning 10 to 20 years - to identify and prepare for potential risks and opportunities on the horizon. The discussion emphasised the value of this forward-thinking perspective in navigating an increasingly complex risk landscape.
ESG: Bridging the Gap
The conversation also delved into Environmental, Social, and Governance (ESG) factors. Participants discussed how ESG provides a crucial link between traditional financial statements and comprehensive risk management. By integrating ESG considerations, organisations can better capture opportunities, and address risks that might otherwise be overlooked.
Scenario Testing and Context-Driven Risk Management
Brief yet impactful, the discussion on scenario testing highlighted its necessity in today’s dynamic environment. Emphasis was placed on adopting a context-driven approach to risk management, where scenarios are tailored to the unique circumstances and challenges faced by each organisation.
The CRO luncheon provided a platform for sharing insights, fostering collaboration, and advancing the practice of risk management. We look forward to continuing these important conversations and driving the evolution of our profession.
Published: 28 June, 2024
Written by: Simon Levy, RMIA’s CEO
