Operational resilience, regulatory compliance, corporate citizenship, meeting contractual conditions, fiduciary duty, insurance due diligence and the safety and security of employees, customer and partners are urgent issues in the C-suite and boardroom. Better risk identification, assessment and mitigation strategies have become a prerequisite – to contract execution, government funding, healthy media relations, reputation and good corporate citizenship.
At Risk Solutions International we understand the issues that drive risk:
- Recent crisis experience or insurance loss
- Increased vulnerability - of sensitive data and protected information - to hacking, cyber attack, malware, intrusion or denial of service attack.
- Compliance with standards and industry practices, or response to audit comments about deficiencies in risk controls.
- Business continuity or emergency plans required by partners in service level agreements (SLAs) or as a pre-condition to buying or investing, by banks as a loan covenant, or by insurers as a condition of insurance coverage.
- Concerns about continuity in the supply chain - vendor resilience, inventory value-at-risk, and risk built into in the global supplier network.
- Unpredictable and volatile international political and social instability.
- Elevated risk from sole sourcing and single points of failure as unintended consequences to consolidation or the implementation of lean manufacturing and just-in-time procurement strategies.
- Risky geographic concentration of production, distribution or intellectual assets.
- Difficulty in quantifying business and contingent business interruption risk for insurance underwriters, the limited availability of CBI capacity in the market, and its prohibitive expense.
- Strategic concerns about “black swan” events and atmospheric patterns that produce violently destructive weather.
- Heightened focus on homeland security initiatives and projects driven by federal and state grants for emergency preparedness and continuity of operations planning (COOP).
- Stakeholders’ expectations for corporate good citizenship.
- Corporate/Board governance directives.
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