Risk Views with Norman Marks, IRM Honorary Fellow and Board Member of IRM India Affiliate Hersh: In your extensive experience and observation, how have enterprise risk management practices evolved in the last decade, especially regarding the integration of risk management with strategic planning? What do you see as the most significant changes or trends that are shaping the future of ERM? Norman: I am pleased to see more and more practitioners recognizing that their job is not to ‘manage or mitigate’ risk, but to help leaders of their organization take the right level of the right risks at th ..read more

In the rapidly evolving business landscape, Chief Human Resources Officers (CHROs) play a pivotal role in managing and mitigating human capital risks. These risks, if not adequately addressed, can significantly impact an organization’s ability to achieve its strategic objectives. Here, we explore ten critical human capital risks and provide strategies for CHROs to solve them effectively. Getting Talent Ready for Uncertainties Risk: The global business environment is increasingly volatile, making it crucial for organizations to prepare their workforce for uncertainties. Failing to equip empl ..read more

In an era where digital content can be manipulated with alarming precision, deepfake technology has emerged as a double-edged sword. On one hand, it offers innovative opportunities for creative and educational purposes; on the other, it presents a significant threat to personal and professional integrity. India, like the rest of the world, is grappling with the challenges posed by deepfakes. While the IRM’s global Digital Risk Management exam helps you develop resilience and risk intelligence in a digital era, this blog outlines seven risk mitigation strategies to help individuals and organiz ..read more

In the ever-evolving landscape of digital finance, India has emerged as a frontrunner in embracing innovative payment technologies. From Unified Payments Interface (UPI) to online National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS), the convenience and efficiency offered by these systems are undeniable. However, as these technologies become more embedded in our daily transactions, they also open up new avenues for fraudulent activities, posing significant risks to consumers and businesses. While organizations like the MPAI (Merchant Payments Alliance of India) are ..read more

Lord Rama’s journey, as depicted in the ancient Indian epic Ramayana, offers profound lessons in various fields including leadership, ethics, and risk management. On the auspicious day of the inauguration of the historic Shri Ram Janmabhoomi Temple in Ayodhya, let’s reflect on the 22 risk management lessons from Lord Rama’s journey: Understand the Risk Landscape: Before invading Lanka, Rama gathered intelligence about the terrain and the strength of Ravana’s forces, ensuring he was not entering the battle blindly. Embrace Righteousness: Rama’s decision to accept exile instead of defying his ..read more

Over the past few years, I’ve come across some strange headlines but few that can contest – ” DeSantis -1, Mickey Mouse -0” If you’re as bemused at reading this headline as I was, allow me to establish some context. Ron DeSantis is the Governor of the State of Florida in the U.S. and Mikey Mouse is……(I’m sure you’re well aware!). Why is the Governor of Florida and a candidate for the next republican vote in the 2024 Presidential Elections fighting one of our most beloved cartoon characters, you may ask. How does victory over Mickey help his political profile is another valid question. It did ..read more

Climate finance is essential for reducing the risks associated with climate change. Climate finance pertains to the allocation of financial resources for projects aimed at mitigating and adapting to climate change. These resources can be obtained from diverse public, private, and alternative financing mechanisms. The objective is to assist with initiatives that mitigate greenhouse gas emissions and aid communities in adapting to the consequences of climate change. Comprehending Climate Finance: Climate finance includes various financial tools, such as grants, loans, investments, and insurance ..read more

Due to its complexity and dynamic nature, the construction industry is subject to a wide range of risks that have the potential to greatly affect project outcomes. Effective risk management is essential to guaranteeing the safety, affordability, and success of projects. This article explores practical risk-reduction tactics that can be used in the building industry. Recognizing the Risks in Construction: Understanding the various risk types is crucial before implementing mitigation techniques. These risks can be broadly classified into four categories: legal risks (including contract disputes ..read more

The Olympics is an international spectacle, celebrated for bringing together the world’s finest athletes. Behind the scenes, however, is an intricate web of risk management practices designed to ensure the safety, security, and smooth operation of the Games. The Olympic Games face a plethora of risks ranging from security threats, political unrest, and natural disasters, to public health concerns. Managing these risks is a monumental task that requires meticulous planning, strategic foresight, and robust execution. This article explores how the Olympics addresses risk management, illustr ..read more

A wedding is not just a pivotal personal moment; it’s an event that entails significant financial investment and detailed planning. From booking venues to hiring caterers and photographers, every aspect of a wedding involves time, money, and resources. Like any substantial investment, it carries inherent risks—risks that wedding insurance is designed to mitigate. This article delves into how wedding insurance can provide peace of mind by protecting against unforeseen events that could otherwise turn a day of joy into one of financial strain. Understanding Wedding Insurance: Wedding insurance ..read more