Transformative Risk Management

David Ponder, a partner at Cential, has used COVID-19 to teach his five-year-old daughter about the interconnectedness of the world: “To change the world, you've got to start with yourself first and your closest circle second,” he advises. This lesson parallels the interconnectivity of risk management ecosystems — organizations should never stop reevaluating the principles that determine their actions. Why? Because risk management is no longer done by standalone entities. Like herd immunity, transformative risk management introduces the idea that if one organization in the risk ecosystem is weak (or strong!), everyone else is, too. One band; one sound. Enter Jannie Wentzel, a partner and principal consultant at Cential, who authored a whitepaper about the emerging tools and technologies that are transforming risk management today. Together, Jannie and David assert that transformative risk management’s emphasis on data will provide leaders the confidence to base critical decisions and drive valuable business solutions for each participant in a risk ecosystem. With host Megan Phee, these GRC experts posture that risk leaders will soon shift their understanding of compliance-focused risk management and GRC as a whole. Could this be the Next Big Thing of risk?