Managing interconnected risk in a technology-rich future

Article

In an interview at the Risk Americas conference, Sabeena Ahmed Liconte, Head of Legal and Compliance at ICBC Standard Bank Group, shared her insights on managing the interconnectivity of risk categories and establishing a holistic view of risk.

Aug 23, 2024

Sabeena Ahmed Liconte, Head of Legal & Chief Compliance Officer, Americas, ICBC Standard Bank Group

Managing interconnected risk in a technology-rich future

Operational resilience is becoming a central focus in risk management, requiring organizations to extend their focus beyond internal assessments and prioritize the ability to maintain critical services during periods of stress.
A culture of risk awareness must permeate all levels of an organization, ensuring that everyone, from the board members to front-line employees, understands their role in managing and mitigating risks effectively.
Effective third-party risk management is essential in today's business environment, especially as many critical services are outsourced to vendors who may not be subject to the same regulatory oversight, increasing the need for thorough vetting and continuous monitoring.
Cross-disciplinary collaboration is vital for managing risks globally, necessitating coordinated efforts across different departments and regions to ensure that risk management strategies are cohesive, consistent, and effective across the entire organization.