Ep 20: Modern Risk Management Must Drive Better Decisions feat. Prof. Stefan Hunziker

The conversation delves into the purpose and challenges of modern risk management, the importance of risk management in decision-making, the limitations of traditional risk reporting, the role of quantification, and the integration of risk management with internal audit and compliance. It emphasizes the need for risk management to shape decisions under uncertainty and be integrated into the decision-making process, with a focus on better judgment, resilience, and closer integration with other governance functions.TakeawaysRisk management must shape decisions under uncertaintyIntegrated risk management is a part of the decision-making processThe future of risk management involves better judgment, stronger resilience, and closer integration with internal audit, compliance, and leadership decisionsChapters00:00 The Purpose of Modern Risk Management07:42 The Importance of Risk Management13:21 Practical Changes in Risk Management18:39 Decision-Relevant Risk Reporting24:15 Quantification in Risk Management31:29 Integration with Internal Audit and Compliance