Events in the financial sector since 2008 have taught us that massive risks to the sector can emerge unexpectedly. They can suddenly present a threat to certain investments, companies and even countries. The public is now more critical than ever towards the financial sector. And there is a hint of danger in the air - have you seen it coming?
Although almost everyone has acknowledged the threat of new risks since 2008, it is difficult for many companies to anticipate them. When it comes to risks, companies are too casual in leaving analysis and strategy to their risk officers. They are failing to implement a strategic vision at the very highest level, even though recent experience shows that the future of organisations can be threatened in one fell swoop. Do you dare to actively search for risks currently below the surface?
Under Solvency II, insurers must create their own risk and solvency assessments (ORSA), preferably together with capital management and value-based management. This is a good start. However, experience shows that this has not yet resulted in the required strategic vision towards risks.
Calmness and determination are needed in order to truly see what you are about to face. We will work with you to identify the very worst outcomes. This will involve first giving people in your organisation the opportunity to highlight their doom scenarios.
We will start with the crucial value drivers in your organisation and the potential threats. We will also examine sector-based research by e.g. DNB when addressing structural risks. We will then examine how to anticipate future developments. And we will also offer you ideas about how risk identification can become a structural and integral part of your business operations.
‘Risk identification requires a structural approach so threats can be actively identified - within the company as well as the sector.’
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