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Risk managers certainly only see the hole in the doughnut … or not …?

Posted By IRMSAInsight, 29 April 2015
IRMSA Breakfast
4 May 2015 
 

 

Risk managers certainly only see the hole in the doughnut … or not …?

 

Investment banking firm Goldman Sachs is bullish on South Africa, with COE and Chairman Lloyd Blankfein saying the country has been a “spectacular success” on a longer-term view and is doing better than many other places.

Blankfein said he was “generally bullish” on South Africa.  “The importance is to scale the investment, because it’s risky.  You’re taking enormous risk for enormous potential.  We have invested in South Africa and we are open to invest,” he said.

  

        Considering this view from a global investment firm, four questions to you as risk managers, to         ponder over and share if you dare:

 

  • Is your paradigm about the country you live in, preventing or supporting the balance between negative and positive risk taking at your Exco and Board?
  • If so, how many opportunities or positive risks are reflected in your latest risk register?
  • Share how one can shift the focus from mitigating risk to one of responding to opportunity or positive risk?
  • Will replacing the word “mitigate” in our risk language be a good start to facilitate focus on positive risks and positive risk taking?

 

 

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Eskom Holdings SOC Limited says...
Posted 30 April 2015
Good point! Very little on the positive side at the moment - paradigm may have a role to play however I believe it is more of a maturity issue, at least where we are at.

Also if mitigate means to make less severe, serious, or painful, alleviate, reduce, diminish, lessen, weaken and tone down - then using the word mitigate in risk management would certainly only have relevance to the negative - I prefer using the term "to treat" a risk!
Permalink to this Comment }

...
Eskom Holdings SOC Limited says...
Posted 30 April 2015
Good point! Very little on the positive side at the moment - paradigm may have a role to play however I believe it is more of a maturity issue, at least where we are at.

Also if mitigate means to make less severe, serious, or painful, alleviate, reduce, diminish, lessen, weaken and tone down - then using the word mitigate in risk management would certainly only have relevance to the negative - I prefer using the term "to treat" a risk!
Permalink to this Comment }

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