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Risk and Resilience: No One Can Go It Alone

October 6th, 2021
Hannah Tichansky

Blog - Risk and Resilience: No One Can Go It Alone - FI

As a risk or compliance professional, your job is to help reduce and mitigate risk and build resilience within your organization. While you may have a lot of responsibility resting on your shoulders, there is no reason to become an island. The risk and compliance-related communities are not only extremely collaborative from a networking standpoint but from a practical one as well.

Connecting with other professionals and exploring resources helps drive ideas, pin new trends to be aware of, build valuable connections, and work together to make businesses safer and more resilient. This need for collaboration is even more important with large-scale, industry-agnostic risks such as the COVID-19 pandemic, large supply chain disruptions, and massive recent data breaches.

There are many benefits to engaging in a collaborative culture when approaching third-party risk management (TPRM), supplier risk management, and overall risk mitigation. Just a few include:

  • Sharing of knowledge
  • Development of new ideas
  • Encouraging innovation
  • Engagement with like-minded colleagues
  • Advocating for integrity and excellence

Find Your Risk and Resilience Community

But how to get conversations started? One way to engage in risk and resilience communities is to explore active LinkedIn groups relevant to your industry, job function, or priorities. Groups such as these generally act as a forum for sharing topical articles, trends practitioners should be keeping an eye on, news and events, and thought leadership content. The Third-Party Risk Association (TPRA), the Third-Party Risk Management, and the Risk and Resilience LinkedIn pages are great examples of active communities where one can browse around and connect with others through social media.

Joining professional organizations is another way to connect with risk professionals and gain insights into trending topics. Becoming a member of these types of organizations also gives you the opportunities to attend conferences, industry tradeshows, panel discussions, and even speak on a topic yourself. Perhaps more importantly, these events provide valuable networking opportunities to learn more, bounce ideas around, and make those integral connections.

Make Connections and Share the Knowledge

If you’re nervous to connect with other risk professionals- don’t be! Whether you add or message someone over LinkedIn, or approach someone at a tradeshow, most people are happy to chat, exchange ideas, and discuss topics with other industry professionals. Unless the information is confidential or proprietary, most people in these fields are excited and eager to talk with others who are interested in the same types of conversations! Speakers at panels or conferences, and authors are a few examples of professionals who have a wealth of knowledge to share.

Discussing risk and resilience-related challenges can help you gain insights and ideas for topics like:

  • How to get your board more involved in TPRM or other types of risk management
  • How to get new programs and processes started within your organization
  • What tools and software vendors others have used and found useful
  • What regulations are on the horizon that apply to your business
  • Ways to encourage integrity and innovation within organizations and industries

If you can’t attend an in-person event (understandable, given the pandemic), attending live or on-demand webinars is another great way to listen in on trending topics, ask questions to experts, and meet with like-minded individuals. At Aravo we keep a list of upcoming and on-demand webinars with risk and resilience experts if you’re interested in seeing what events are of interest.

A Forum for Expertise and Tips: Risk & Resilience Magazine

Searching for thought leadership content related to risk and resilience topics is another way to find resources and guidance to help meet the needs of a changing risk environment. Bookmarking these resources, and sending them to colleagues who may be interested not only helps start conversations but also provides practical guidance and best-practice tips.

In an effort to better share knowledge and connect risk management experts, Aravo Solutions has created a new thought leadership publication that focuses on trending topics within TPRM and the greater risk management landscape. Risk & Resilience’s inaugural issue focuses on the topic of Environmental, Social, Governance (ESG) and features expert insights and practical guidance from industry leaders. Highlights of the magazine include:

An Introduction to ESG with Michael Rasmussen

GRC Pundit and Analyst at GRC 20/20 Research, Michael Rasmussen breaks down ESG’s history, current climate, and why it’s time to up your ESG game sooner, rather than later.

A Conversation on the Social Component of ESG with Rani Hong

“In many cases, if we follow the money within financial organizations, like banks, we can see where it intersects with human trafficking. The key is to find those red flags.”

Rani Hong

Rani Hong, Social Entrepreneur, and CEO of Freedom Seal Global sheds light on the ethical ramifications of ESG. Sold into child slavery at the age of seven, Rani has since built Freedom Seal Global, an organization committed to helping companies fight against modern slavery and human trafficking by committing to mitigating these crimes (and their connections to financial crime) through the Freedom Seal certification.

Roundtable Discussion on the Ethical and Compliance Landscapes of ESG

“As human beings on this planet…we need to understand what ESG means for our generation and for future generations.”

Lisa Beth Lentini Walker

Three ESG practitioners and experts, Alison Taylor, Lisa Beth Lentini Walker, and Mary Shirley discuss ESG’s meteoric rise and how to get programs started effectively. In an exciting roundtable discussion, these experts share how compliance and ESG teams can work together to build scalable programs, best practices, and what the ESG landscape will look like in the future.

Knowledge is Power: Understanding the Pandemic, Reputational Risk, and What We’re Missing

John Bree, Chief Evangelist & Chief Risk Officer at Supply Wisdom sat down with our editors to discuss how the pandemic has helped to shift ESG priorities, and how ESG efforts (or ignoring them) affects a company’s reputational risk.

ESG & Business Continuity: A Story of Survival

“While we need to plan for the expected risks facing our specific industries, we need to have an eye towards the unexpected.”

Barbara-Ann Boehler

Learn how ESG and business continuity are stories of survival. Using tips from “The Worst-Case Scenario Survival Handbook,” Aravo’s Barbara-Ann Boehler explores a new way of framing ESG within your organization.

ESG & TPRM: The New Relationship to Embrace

Risk & Resilience also features an interview with Julie Gaiaschi, CEO and Co-Founder of TPRA, where she provides insights into the relationship between TPRM and ESG, and provides best practices for companies that are looking to begin adopting ESG.

Driving Sustainable Procurement into the Future

“Without the proper expertise and reliable indicators about supplier practices, it’s tough to make better procurement decisions.”

David McClintock

In a unique perspective to analyzing ESG, David McClintock from EcoVadis explains how sustainable procurement has evolved, how to avoid getting overwhelmed during SP adoption, and how to drive sustainable procurement further into the future.

Best Practices for Implementing ESG Programs at Your Company

Armed with all of the ESG insights provided by our experts, you’ll also find practical steps to begin integrating ESG into your programs. While any new initiative can be a large undertaking, taking simple, defined actions can help your company address these issues sooner, rather than later.

You can read insights in the above articles and interviews, as well as additional features in the latest issue of Risk & Resilience, and by subscribing to future issues!

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