Our WakeUp Breakfast on Re-thinking Risk
Today’s breakfast briefing, facilitated by Matthew Graham and Peter Wilkinson, is the second of our new WakeUp events that bring together executive level representatives from government and industry for a focused discussion. Today’s discussion, Re-thinking Risk, explored what risk management means at all levels and the need to focus on overseeing the controls that prevent enterprise level material risks from occurring (and mitigating their consequences when they do).
Matthew shared his experience managing security risks at major airports, and Peter offered his insights on low probability high consequence events based on his engagement in the aftermath of several globally significant risk events. Attendees shared their observations, including the difficulty of ‘vertical translation’ of lower level risks into appropriate enterprise level risks and the tendency to dilute key information when reporting. The discussion also covered the importance of setting risk and control ownership at the appropriate level and the elimination of operational ‘stove pipes.’
Matthew and Peter offer their thanks to all attendees for engaging in the discussion and we look forward to Noetic’s next WakeUp Breakfast.