Senior executives at leading companies have revealed their commitment to move from defensive risk management posture to a forward-looking stance — a shift we have termed as moving from a "detect and correct” mindset to a "predict and prevent" model of risk management.
In a recent survey by McKinsey and the Federation of European Risk Management Associations (FERMA), over half of respondents said the coronavirus pandemic made risk and resilience significantly more important. Historically, risk management focus was on a small number of well-defined risks, primarily financial risks. Now, risk is encompassing the broader mandate of resiliency management.
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