The Role of Risk Quantification in Integrated Risk Management

Presented by

David Vose, VP, Risk Management Archer and Chris Patteson, Executive Director, Risk Transformation Office Archer

About this talk

As both internal and external business pressures continue to heighten the focus on the Risk Management function, the interest in improving the executive level understanding of risk reporting is also rapidly growing. Typically, the gap that exists stems from the lack of a common language for risks and mitigating or compensating controls that is based on quantitative financial impact. So, why does this gap exist when the tools to translate risks and treatments into financial impact and value are available? What holds most organizations back from leveraging quantitative risk analysis to ultimately help ensure success of their most important strategic initiatives? For many organizations it is a perception that they lack the underlying data to support advanced quantitative tools. But in reality, modern and leading Integrated Risk Management platforms provide most if not all of the data needed. For other organizations, the fear is that they need a team of math PhD’s to advance this quantitative analysis. In truth, some risk quantitative tools don’t require any in-depth expertise, and when paired with a foundational Integrated Risk Management platform can deliver simple answers to simple questions. Join Archer’s leading experts on Quantitative Risk analysis to learn more about how your organization can benefit from some of the tools and techniques already in use. In this session, you will learn about: • The ways quantitative risk analysis is bridging the gap between the Risk Management function and Executive Leadership and Boards of Directors • How and why risk quantification is advancing beyond an initial focus on Cyber Security threat and risk management to include broader Operational Risk areas • The limitations of qualitative risk analysis, but also why qualitative helps faster development of quantitative • Why you don’t need to hire a squad of “quants” in order to translate risks and controls into financial impact

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