New RIMS report looks at Rethinking the Impact of Disruption on Enterprise Risk Management Tools and Processes

Published: Thursday, 15 July 2021 07:47

The ability to detect and recognize sources and impacts of risk and disruption may determine the commercial survival of an organization, according to the newly published RIMS Executive Report 'Rethinking the Impact of Disruption on Enterprise Risk Management Tools and Processes'.

The report covers the basics of emerging risks and business disruption, the drivers of disruption, and what role the strategic and enterprise risk management practitioner can have in better preparing and managing corporate disruption.

‘Given the tremendous amount of disruption, change, and ever-increasing new risks, it only makes sense for ERM leaders to rethink their role and skill set,’ the report states. ‘Once the company is responding and creating their own future and wave of disruption, the risk leader can be a valuable partner in helping them identify and manage the risks associated with the plans, goals and initiatives, thereby improving resource allocation and increasing the chances of success’.

The report is authored by Dr. Paul Walker, James J. Schiro/Zurich Chair in Enterprise Risk Management, St. John’s University Peter J. Tobin College of Business; and Ward Ching, Adjunct Professor of Risk Management, University of Southern California Marshall Business School/Leventhal School of Accounting, and Managing Director at Aon.

The Rethinking the Impact of disruption on Enterprise Risk Management Tools and Processes report is available in RIMS Risk Knowledge library.