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Keynote 3
James Fong_RSA.png

James Fong

Regional Business Director

RSA Archer GRC

Bridging Business and Digital Risk Management

With recent media attention and corporate awareness of corporate failures, such as data and privacy breaches, compliance violations, business disruptions, executives and board members have increased their scrutiny and become more involved in governance, risk and compliance initiatives.

Risk management is no longer just about avoiding major failures and business disruptions. A risk management strategy is not a one-time effort; it often requires a cultural shift in how an organization conducts business. Cultivating a culture of risk management, in this day and age, is not a choice for your organization anymore but critical towards the successful sustainability of the business in years to come.

However, this transformation does not happen overnight.

The transformation of the GRC concept from a compliance focus to an objectives and risk-focused orientation reinforces a broader role as one of Business Risk Management. Business Risk Management represents the next evolution of the governance, risk and compliance paradigm— managing risk and making decisions (manage, accept, transfer, avoid risks) within the business; whilst Digital Risk Management is the next evolution in enterprise risk and security for organizations that increasingly rely on digital processes to run their business. These principles should guide the governance, risk and compliance (GRC) and security functions towards a sustainable program that evolves and adapts with the organization.

The end goal is to elevate both Business and Digital risk management as a business advantage—enabling your organization to meet strategic objectives with better and more predictable results through:

  • Importance of cultivating a culture of risk management towards successful business sustainability

  • Adapting digital change to the risk context

  • Elevate both Business and Digital risk management as a business advantage—enabling organizations to meet strategic objectives with better and more predictable results

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