Widen Your Risk Taxonomy To Remove Blind Spots

February 8th, 2019

Renee Murphy

With contributors:

Christopher McClean , Trevor Lyness , Peggy Dostie

Summary

The way enterprises categorize risk has important implications for how they assess, measure, and treat it. Antiquated categories of risk — such as legal, operational, financial, and strategic — may leave an organization blind to some of the biggest sources of potential loss because they don’t happen to fall neatly into these groupings. This report explores the breadth of risk events that have caused the biggest recent corporate losses, introducing a new taxonomy to help risk managers make sure they don’t have any such blind spots.

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