Jul 8, 2020
In this interview Jim Wetekamp, CEO at Riskonnect shares his insights on how organizations are preparing to adapt to the new normal and explains how risk managers should stay the course during this COVID-19 crisis time.
4 long-standing trends that risk managers have to deal with
thoroughly accelerated right now (excerpts from the Interview with
Jim Wetekamp, CEO at Riskonnect)
1. The digitalization of risk, so the thing is tied in the risk management function being automated and the impact of that automation from an eco-system standpoint. It's just accelerating right now, you’re seeing it as people are working from home, as organizations become more decentralized in their locations and how they serve their customers.
2. The evolving of an alliance on data and analytics, the power of decision making was already a trend, now it’s even more powerful and you need even more data. Where are COVID cases evolving? Where are we on the different stages or phases of the recovery curve?
3. You can see it across organizations, is the rising pace and scope of policy compliance and procedure change, that was already something happening but now it’s happening daily or weekly as people reassess travel policies, WFH policies, governmental reimbursement...
4. And then the final point is the growing importance of risk management in corporate strategy.
You can read the transcription of this interview here or watch the video recording here