Academy Workshop: Emerging risk management (including an overview of the Airmic/Barnett Waddingham Guide to Emerging Risk)

With typical characteristics of deep uncertainty and limited available information, emerging risks can be difficult to manage – they can materialise quickly, constantly change, and can significantly affect any organisation and its activities. 

These unique characteristics force organisations to consider and implement different processes and additional measures above and beyond the familiar processes used for risks and opportunities that are well known and fully understood.

In this session, we will build and expand on the recent Airmic and Barnett Waddingham publication that provides practical guidance for how an organisation should identify, prepare for, and manage emerging risks. We will cover the use of tools, some familiar and some perhaps less familiar, but all useful in managing emerging risks. We will also work through a new framework designed to allow the integration of emerging risk management into an organisation.

While practical in nature, the session will also link the practices involved to how they affect and work with the way humans understand the world around them and how this linkage helps develop greater insight.
 

By the end of the session, you will be able to:

• Recognise how emerging risks differ from other risks.
• Recognise and balance the risk and reward equation with emerging risks.
• Identify the emerging risk framework from the guide and understand how it can help drive your organisation's emerging risk management processes.
• Gain some insight into decision-making under deep uncertainty.

Speakers:

Keith Smith, Senior Risk Consultant, Barnett-Waddingham
Julia Graham, CEO, Airmic