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Reputation risk at P&O – IRM BBC interview
Businesses need to put social responsibility at the fore to avoid long-term reputational damage following the pandemic, IRM Environmental and Social Governance Group chair Anita Punwani told the BBC in an interview. Speaking in the wake of P&O Ferries’ decision to sack UK workers over the internet, she said it was difficult to understand the…
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Ukraine and Covid fuelling supply chain nationalism
The conflict in Ukraine and Covid are fuelling supply chain nationalism in a trend that could reverse globalisation. The rise of populist nationalism in countries such as the UK and US had already put “made at home” policies on the agenda. Now, businesses face geo-political headwinds that threaten to destabilise the supply of essential goods.…
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Deadline for operational resilience imminent
The deadline for operational resilience measures mandated by the UK financial regulator the FCA is imminent. From the end of March financial services firms must demonstrate they have a grip on operational risk in core services. The rules are wide-ranging, covering risks to customers, market integrity and financial sustainability. Operational risks In fact, risks that…
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Organisations failing to bridge talent gap
Organisations are failing to bridge talent gaps among critical staff, chief human resources officers said in the analyst Gartner. In fact, fewer than one in five (19 per cent) said they are tackling the number one HR trend. Half (48 per cent) reported concerns over mass turnover. “While organisations are competing with peers for talent,”said…
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IRM risk predictions 2022
IRM’s risk predictions 2022 highlights five areas for boards to focus on: geopolitics, inflation, post-pandemic recovery, workforce and environmental, social and governance (ESG) issues. “One of the challenging things about these risks is that they play out over multiple time-scales,” Stephen Sidebottom, IRM chair wrote in the introduction to the report. “All boards and executive…
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IRM launches the Armed Forces Community Group
IRM has launched the Armed Forces Community Group (AFC Group), following its signing of the Armed Forces Covenant in 2019 and receiving the Defence Employer Recognition Scheme Bronze Employer award. The group creates a network of like-minded individuals working in risk management and who have specifically been involved with any aspect of the armed forces.…
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Businesses must upskill leaders in post-pandemic world
Businesses must upskill leaders to thrive and survive in a post-pandemic world. Academics at LSE set out six areas of focus for businesses in a recent blog. The pandemic showed many businesses showed poor risk management practices because risk analyses remain siloed. Emma Sloane, LSE’s online course convenor for Leadership and Change, said that businesses…
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Anita Punwani appointed chair of IRM’s new ESG interest group
Anita Punwani CFIRM has been appointed chair of IRM’s new Environmental & Social Governance (ESG) SIG. Her passion is to promote the role of risk management in ESG and contribute to the achievement of the UN Sustainable Development Goals. She is a member of the Royal Institute of International Affairs (Chatham House) and the United Nations…
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UK Government’s third climate report urges more action
The UK Government’s third climate report urged more action in eight key risk areas. In its most recent five-year assessment, it said even low warming scenarios could cost £1 billion per year to the economy. “The UK will be subject to a range of significant and costly impacts unless significant further action is taken now,”…
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Cyber risks top business concerns
Cyber risks top business concerns for risk managers for 2022, pushing business interruption from the top spot. Although COVID 19 continues to be a threat, ransomware attacks and other forms of attack rank top in the Allianz Risk Barometer 2022. In fact, the threat is so prevalent it pushed business interruption into second place. Business…
