• Riskology by Infortal

  • 著者: Thomas Fox
  • ポッドキャスト

Riskology by Infortal

著者: Thomas Fox
  • サマリー

  • Welcome to the Riskology podcast. Companies operating in today’s global economy really need to get an understanding of the international geopolitical risk landscape. At Infortal Worldwide we work with our clients on Solving Risk Before It Starts™. In this podcast series, Infortal founder and CEO Candice Tal and her team will explore how companies can mitigate risks to their business, employees, and assets while maximizing operational success.
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あらすじ・解説

Welcome to the Riskology podcast. Companies operating in today’s global economy really need to get an understanding of the international geopolitical risk landscape. At Infortal Worldwide we work with our clients on Solving Risk Before It Starts™. In this podcast series, Infortal founder and CEO Candice Tal and her team will explore how companies can mitigate risks to their business, employees, and assets while maximizing operational success.
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  • Riskology By Infortal: Episode 37 - Boots on Deck: Managing Maritime Risk with Joshua Hutchinson from AMBREY
    2024/11/25
    Introduction to Maritime Geopolitics The global economic system heavily relies on maritime shipping. In fact, 90% of all trade travels by sea. Despite its critical role, maritime shipping often operates under the radar of public awareness. When a package arrives at your door or a product hits the store shelves, little thought is given to the complex journey it has taken to get there. The maritime industry plays an indispensable role in global trade, moving raw materials and finished goods to their destinations around the globe. Conflicts and tensions in various regions impact the security and efficiency of shipping routes, posing serious challenges to the industry. From the Middle East to Southeast Asia, maritime channels are becoming hotspots of geopolitical struggles, with significant ramifications for global trade and economics. Regional Threat Dynamics The risk landscape and the required risk mitigation techniques can vary dramatically by region. For example, navigating through the Red Sea entails different challenges and required precautions compared to traversing areas known for piracy, such as West Africa. Regional Threats: Red Sea: A current hotspot for terrorist attacks on shipping channels with continuing conflict in the region. East Africa: Risks include piracy, local corruption, and political instability. Southeast Asia: Navigational hazards, piracy, and regional disputes are significant threats in the region. Latin America: Organized crime, including drug cartels exploiting the shipping industry to launder significant amounts of cash creates a unique set of risks. Managing Risk versus Mitigating Threats It is important to distinguish between managing risk and managing threats, especially when it comes to managing maritime risk. Risk management is about adopting strategies to minimize exposure to potential losses, which is an intrinsic part of doing business in the shipping industry. This requires ensuring you have contingency plans in place and verifying that your firm’s compliance policies and programs are up to date. On the other hand, managing threats involves understanding and neutralizing specific dangers that could jeopardize your operations. In the case of direct attacks, this may even mean protecting a specific vessel's safety. Dealing with threats requires having a tactical plan in place to deploy as needed. Read full show notes at Infortal Worldwide Resources: Joshua Hutinson on the Web | LinkedIn Infortal Worldwide Email Dr. Ian Oxnevad on LinkedIn Chris Mason on LinkedIn
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    20 分
  • Riskology by Infortal: Episode 36 - Geopolitical Risk Management for CFOs
    2024/11/11
    The Evolving Role of CFOs in Geopolitical Risk Management CFOs, it's time to rethink how you approach global risk! Geopolitics isn't just for diplomats - it's seeping into the boardroom and impacting bottom lines, now more than ever. Join Riskology by Infortal™ hosts Dr. Ian Oxnevad and Christopher Mason from Infortal Worldwide as they highlight the strategic importance of factoring in Geopolitical Risk analysis into CFO-led strategic planning and financial forecasting. Geopolitical Risk & Chief Financial Officers (CFOs) In the complex landscape of global business, geopolitical risks hold significant sway over corporate strategy, whether planned or not. Geopolitical risks encompass a wide range of factors, from inflation and economic policies to socio-political dynamics, all of which can disrupt market stability. Traditionally, the evaluation and management of these risks may not have fallen directly within the purview of CFOs. However, as companies increasingly navigate volatile environments, CFOs find themselves uniquely positioned to incorporate geopolitical risk assessments into financial strategies to ensure longer-term sustainability. CFOs are integral to a firm's financial health and resilience. As global markets become more interconnected and unpredictable, CFOs must now factor in geopolitical variables that could significantly impact an organization’s operational continuity. Just think about the recent impact that economic warfare, i.e. sanctions, has had on the shipping industry. Understanding these dynamics is essential for fostering robust financial planning and risk management. The Impact of Geopolitical Risks on Financial Planning Geopolitical instability can have far-reaching impacts on various financial aspects of a business, making it critical for CFOs to stay informed and proactive. The key to thriving amidst these uncertainties lies in strategic preparedness and robust scenario planning. Scenario planning involves envisioning multiple future states and their potential impacts on the business. By simulating different geopolitical scenarios, CFOs can proactively devise contingency measures to mitigate risks. For instance, understanding how a new trade embargo might affect supply chains allows financial leaders to identify cost-effective alternative suppliers or logistical routes, thereby minimizing disruption and preserving continuity in the event of a significant geopolitical shift. This financial foresight also aids in maintaining compliance with international laws and regulations, safeguarding the firm from legal repercussions. Leveraging Technology for Risk Monitoring The evolution of technology has dramatically enhanced the capacity to monitor and mitigate geopolitical risks. Advanced risk dashboards and sophisticated risk management tools now offer unprecedented capabilities in risk detection and analysis. Risk management systems can categorize risks, assign scores, and generate predictive analytics, giving CFOs actionable insights. This continuous monitoring is crucial, as it allows for timely adjustments to financial plans, ensuring that resources are allocated efficiently, and emergency funds are available when crisis strikes. Importantly, you also need to make sure that you are looking beyond the tech solutions to make sure that you have a boots-on-the-ground understanding of the risk landscape. This may require periodic reviews or conducting more in-depth due diligence. Read full show notes at Infortal Worldwide Resources: Infortal Worldwide Email Dr. Ian Oxnevad on LinkedIn Chris Mason on LinkedIn
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    13 分
  • Riskology by Infortal: Episode 35 - Riskology in London with BABL AI
    2024/10/28
    Riskology by Infortal™ is coming to you this week from the GRC Risk Conference in London. Join host, Ian Oxnevad, as he discusses the intersection of AI and Risk with the CEO of BABL AI, Shea Brown. Their discussion covers several dynamics of AI development and implementation in the context of the growing global risk landscape and the challenges posed by autonomous decision making. Risk Management & AI AI introduces new dimensions of risk to the ever-changing risk management landscape by extending the reach of malicious actors. Fortunately, as Shea Brown points out, defenders against attacks can also benefit from AI. In fact, companies are increasingly integrating AI into their risk management strategies, which reflects a broader trend towards digital transformation across industries. AI-based risks, however, are complicated by the fact that there are an increasing number of use cases for new AI technology. For example, there are new vulnerabilities in the fields of autonomous vehicles, facial recognition, and resource distribution. Companies can no longer ignore the building AI revolution. To prevent disaster, companies must carefully review their risk exposure to outside actors using AI and from challenges created by using the technology in house. During and soon after implementing AI solutions, it is important to gain a deep understanding of how the new technology will impact existing systems and processes. AI-audits provide a great mechanism to ensure that any new tech is up the requisite standards and increases transparency to relevant stakeholders. Buyer Beware The market is becoming saturated with seemingly revolutionary solutions in the risk management space. However, increased investment in this space does attract bad actors offering subpar or worse, even fraudulent solutions. This makes it important to know who is behind the companies you are considering buying from or partnering with. Conducting deep level due diligence on the companies and partners you plan to do business with in the AI space is important to make sure you are onboarding enhancements and not detractors from your bottom line. AI and the Human Element In the world of AI development, an often-overlooked element for successful AI implementation is the need for human-centric oversight. Human supervisors can catch mistakes that automated systems overlook, providing a needed layer of security and reliability. This is especially important in high-risk areas where AI decisions have social and individual impact. By integrating a human-in-the-loop approach, organizations can better align their AI systems with ethical standards and a human focus. Mitigating Risks While integrating AI-based technology into existing programs can pose certain risks for firms, the benefits can be significant. The key is making sure you know what you are getting and that any new technology will live up to your firm’s values. Importantly, AI does not eliminate the importance of accounting for human behavior. Currently individuals are still driving decision making and controlling the use of AI technology. Conducting due diligence on potential suppliers and performing audits on the AI impact to your company will place you ahead of the curve in terms of benefiting from the AI advancements now available in the risk management space. Resources: Infortal Worldwide Email Dr. Ian Oxnevad on LinkedIn Shea Brown on LinkedIn
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    13 分

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