Build a common risk language and foundation for better collaboration
In this episode, Travis Ringger joins Brian Schwartz to discuss the practical actions risk functions can take to lay a foundation for better collaboration and risk insight. We discuss the following questions: 1:08 - Why do only a small percentage of companies feel they have the right technology and tools needed to manage risks today? 2:35 - What are some of the non-technological, foundational steps that organizations need to take for better collaboration? 4:37 - What do you see risk functions doing to improve their risk data, are they building common data sources and do they understand what to do with the unstructured data? 6:46 - What are the difficulties and misconceptions associated with building one single source of truth? 9:33 - What are the appropriate steps for a company to take to move toward a more common technology platform? 11:55 - What is your advice for risk functions that don't foresee being able to invest in a common technology? 13:45 - What are some key takeaways for those looking to increase collaboration between risk functions? https://www.pwc.com/us/en/services/risk-assurance/podcasts/2020-global-risk-study-risk-collaboration-foundation.html