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2021’s Hottest Risk Management Trends

Risk & Compliance

2021’s Hottest Risk Management Trends

Posted by Michael Berman on Jun 15, 2021 6:00:00 AM
Michael Berman

Good risk management never goes out of style—it just evolves.  

Here at Ncontracts we may not be hip to the latest TikTok or influencer trends, but we know good risk management when we see it. 

Outdated risk management is never cool. Staying stuck in the past exposes your bank, credit union, mortgage company, or fintech to increased risk—and the worst part is you might not even realize it.  

june webinar

Is your risk management on target or falling behind? We created this chart to let you know what’s in and what’s out when it comes to risk management. 

Out

In

Risk management via spreadsheet 

Integrated risk management 

Avoiding all risk 

Seeing potential business opportunities 

Lackluster governance 

Tone from the top = risk management culture 

Setting strategy with gut instinct 

Risk informing strategy 

Learning lessons the hard way 

Looking before you leap 

Building the plane while you're flying it 

Planning ahead 

Treating all risks the same 

Prioritizing resource allocation 

Not measuring risk 

Quantifying risk 

Risk management Whack-A-Mole 

Catching and mitigating risk early 

Sacrificing long-term goals for short-term gains 

Aligning incentives with strategic goals 

Herding cats 

Leveraging each other's work 

Thinking about risk at the end of a process 

Baking risk management into business development 

ERM as a game of "gotcha" 

ERM as a second line of defense 

Reporting as the finish line 

Reporting as a jumping off point 


Worried that you’re a risk management cheug? Need help keeping up with the evolution of risk management? It’s okay. We’re here to help. Check out our on-demand webinar 
Risk Assessments: Making the Most of Your FI’s Secret Weapon. 

LEARN MORE

 

Topics: Risk & Compliance