Creating value is about managing risk to maximize reward. The most successful companies seize opportunities without stumbling on the risks around them. But when risks are always changing, and you don't connect risk management with business performance, this gets tougher. How can you best manage risks that are unknown or unpredictable?
Enter the risk-aware CFO. CFOs, with their holistic view of enterprise operations and business data, are in a unique position to help their companies detect and protect against risks and coordinate response. As a strategic advisor to the organization, you can play a critical role in aligning your enterprise risk management efforts with your corporate mission and line-of-business strategies.
But, as CFO, you are busy, and risk management can be daunting. With the explosion of data, digitization, and globalization, risks (both good and bad) are happening faster than ever. You need to identify and react to them faster-and prevent them, if possible. The ability for a company to move quickly, in a coordinated fashion, is now a critical core competency that depends on the right people and processes. You need the right leader – and solution – to quickly act.
With the proper enterprise risk management (ERM) solution, CFOs can connect business risk with results-helping teams to effectively detect and prevent risk, and creating a risk-intelligent culture. The result is transformative: the organization moves to "proactive risk management" and can connect business performance to risk management.