Why Risk Management Is More Important Than Ever — Lloyd Emerson Johnson

“In the rest of our lifetimes the pace of change will never again be as slow as it is today.” — Matthew Bishop

Within the last decade, there have been several extraordinary events. These have ranged from the global financial crisis to the pandemic. Although no organization or individual can reliably predict these risks but they can and should prepare for these uncertain times.

Recently, I read an article published by Forbes titled “Why Risk Management Is More Important Than Ever”. Having significant experience in risk mitigation and management, I found this article to be an interesting read. Since managing businesses have become a challenge in this volatile environment, the article mentioned some proactive and integrative solutions encompassing people, data, and infrastructure.

These solutions include the following -

  1. Connecting risk management more closely to business and front-office operations.

Risk management should be given priority. Rather than it being “sequestered in the back office”, it should be more connected to the front-office operations.

2. Getting better leverage from technology

Risk teams should take advantage of relevant and newer developing technologies. These technologies help the managers focus on the more serious threats, and reduce the levels of efforts in the low-risk areas.

3.Aligning risk policies with business strategy.

4. Being active, not passive or reactive.

It is important for managers to be active and not passive. Simply identifying and mitigating the risk is not enough.

Read the original article here.

About Lloyd: Lloyd Emerson Johnson is a results-oriented strategic advisor. With over 40 years of international, broad-based experience, Lloyd considers various disciplines in his approach to management and board governance. Through effectively evaluating all corners of a business, Lloyd Johnson has reinvented the roles of a strategic partner and stakeholder champion. He is a creative visionary who transforms businesses to be effective throughout all of their operations and finances. The pragmatic leader specializes in risk management and ensuring that businesses are prepared for uncertain circumstances.



!mpact Magazine is a platform where people with a vision can share their ideas and insights.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store

!mpact Magazine is a platform where people with a vision can share their ideas and insights.