Que faites-vous si vous êtes un professionnel de la gestion des risques et que vous jonglez avec plusieurs problèmes ?

Juggling multiple problems as a risk management professional presents several complexities: Risks across different areas of the organization require attention, ranging from operational to financial & reputational risks. Limited time, budget, & personnel may pose challenges in addressing all risks effectively. Problems in risk management often overlap & influence one another, necessitating a holistic approach to resolution. Meeting the expectations of various stakeholders while managing multiple problems can be daunting. Begin by prioritizing risks based on their potential impact & likelihood of occurrence. Utilize risk assessment techniques such as qualitative & quantitative analysis to rank risks & allocate resources accordingly.

As a risk management professional handling numerous challenges, strategic prioritization is key. Begin by prioritizing risks based on their potential impact and urgency. Assess available resources and capabilities to effectively address identified risks. Develop comprehensive strategies tailored to each risk, considering mitigation, transfer, or acceptance approaches. Implement solutions promptly, deploying necessary measures and controls. Continuously monitor progress and adjust strategies as needed to ensure effectiveness. Finally, engage in reflective learning, analyzing successes and failures to refine future risk management approaches. This iterative process fosters resilience and enhances risk management capabilities over time.

In addition to the usual assessment of impact and probability of occurrence, I believe that the effect of realising quick wins should not be underestimated. Thanks to their realisation, everyone involved is able to get a better understanding off the topic more quickly, feels involved, feels relevant and realises that they can make a contribution. As a result, more complex challenges can be tackled together.

Leveraging AI holds tremendous chances for risk managers, we will never have enough resources, but with AI and automation, we can level the playing field.

Break down complex problems into smaller, more manageable components to facilitate analysis & resolution. Identify root causes, contributing factors, & potential solutions for each component before addressing the problem as a whole. Evaluate available resources, including personnel, expertise, & technology, to determine the feasibility of addressing each problem. Identify gaps & explore opportunities for resource optimization & reallocation.

In my experience, it is not only the available time and personnel resources that are important, but above all the corresponding competences. Staff must be given tools that are adapted to the risk and the soft factors of the individuals involved must not be ignored. This is the only way to utilise resources that are available in theory efficiently in practice.

Develop action plans for each problem, outlining specific goals, tasks, timelines, & responsible parties. Ensure that action plans are realistic, actionable, & aligned with organizational priorities & resources. Develop comprehensive risk management strategies for each identified problem, considering factors such as risk tolerance, mitigation options, & cost-effectiveness. Collaborate with relevant stakeholders to ensure alignment & buy-in.

From a practical point of view, many problems simply need to be tackled at long last. There needs to be less talk about the problems than actual action. Strategies are of course necessary to achieve the goals set in the long term. In my opinion, however, many solutions to problems are obvious and require time resources and the attention they finally deserve in order to be implemented. No strategic elaborations.

I would that we can develop strategies and capacities to work with and within complexity. Simplification is a great goal for processes and technologies, but when it comes to humans and organisations complexity is better embraced than mitigated (which doesn’t work).

In my opinion, the central challenge when implementing solutions is acceptance within the organisation. This requires transparent communication, including addressing new challenges and any fears that people may have. Although the benefits of measures for risk managers are often obvious, this is not always clear to colleagues outside the organisation. This fact must be taken into account.

Implement the identified risk management solutions systematically, adhering to established timelines & milestones. Delegate tasks, allocate responsibilities, & monitor progress closely to ensure timely & effective implementation. Prioritize time & resources effectively to address each problem efficiently & avoid spreading yourself too thin. Delegate tasks, automate processes, & utilize technology tools to streamline workflows & maximize productivity Foster a culture of reflection & continuous improvement within the risk management team. Conduct post-implementation reviews to evaluate the effectiveness of strategies & identify lessons learned for future improvements.

The use of KPIs is generally a good way to measure the success of activities or processes. However, it must always be borne in mind that these facts only represent an extract of reality. Quantitative methods and evaluations are orientated towards the past and deliberately simplify reality. However, with this knowledge in mind and sufficient resources and skills for unforeseen developments, an organisation should be well prepared.

In managing multiple risks, monitoring progress is crucial for ensuring effective risk mitigation. Establish clear metrics and milestones to track the implementation and impact of risk management strategies. Regularly review progress against these benchmarks, identifying any deviations or emerging issues. Adjust strategies as needed to address evolving risks or challenges. Maintain open communication channels with stakeholders to share updates and gather feedback. By closely monitoring progress, risk management professionals can proactively identify and address issues, ultimately enhancing organizational resilience and achieving strategic objectives.

Stakeholder Engagement: Engage with stakeholders proactively throughout the risk management process, soliciting feedback & addressing concerns to foster collaboration & transparency. Agility & Flexibility: Remain agile & flexible in responding to changing circumstances & emerging risks, adjusting strategies & priorities as needed to adapt to evolving conditions. Communication: Maintain open & transparent communication with all stakeholders, keeping them informed of progress, challenges, & decisions related to risk management initiatives.