The playmakers: risk management’s role in the new frontier of business agility

In today’s rapidly changing world, financial services and insurance institutions are facing an unprecedented level of uncertainty and disruption. To stay ahead of the game, organisations must be agile and resilient, with the ability to quickly adapt to new circumstances and mitigate risks. Risk management plays a crucial role. By identifying potential threats and vulnerabilities, organisations can develop strategies to prevent or minimise their impact. However, risk management should not be a one-time exercise; rather, it is an ongoing process that requires constant vigilance and adaptation.

Business agility is the key to staying ahead of the game. This involves constantly assessing the operating environment, modifying processes as conditions change and empowering people to make quick, informed decisions. Agility also requires a cultural shift within the organisation, with a focus on context, capability and connectivity.

By adopting a proactive approach to risk management and business agility, organisations can gain a competitive advantage and be better prepared to handle unexpected challenges. This includes investing in data and technologies that can help to simplify the work of agility-building and engage the entire organisation in the process.