The CxO’s at our global institutions have a primary “Duty of Care” to insure the safety of employees whenever asymmetric threats take place.
There is no "Radar" that can alert you to when the next incident will occur.
This is why many institutions have taken a new "Operational Risk Management" (ORM) perspective when it comes to the “All Hazards” and events that may impact the business.
A true Operational Risk perspective has it's roots in understanding exposure to risk and the likelihood of an event that might occur.
Yet how could one ever predict the rise of another so called Unabomber?
The fact is that you don't. This is why you must have an "All Hazards" worldview operating within the culture of your organization 24 x 7 x 365.
The threat could be an innocent looking “Priority Mail” package with a toxic substance or just a thick brown envelope containing the latest class action law suit.
While this potential threat entering the mail room has affected only a few institutions, there is another battle going on in a different part of each business that is a whole different type of risk, in speed and reach across our enterprises.
What OPERATIONAL RISK MANAGEMENT “Is Not” . . .
- About avoiding risk
- A safety only program
- Limited to complex-high risk evolutions
- A program -- but a process
- Only for on-duty
- Just for your boss
- Just a planning tool
- Automatic
- Static
- Difficult
- Someone else’s job
- A well kept secret
- A fail-safe process
- A bunch of checklists
- Just a bullet in a briefing guide
- Going away
This has to do with the frequency and the pervasive spectrum of new digital “Artificial Intelligence” (Ai) risks across the enterprise.
The speed of change in our global connected economy is rapidly accelerating.
You have to be operating in a “ROBUST” and complete state of preparedness for whatever the next potential incident will bring…
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