digital risk managing risk in the digital age · 1 digital risk big data / real-time analytics 3...
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DIGITAL RISKMANAGING RISK IN THE DIGITAL AGE
Michiel JornaMarch 2017
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DIGITAL AGE
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REAL-TIME & CUSTOMER-CENTRIC
Age of manufacturing
Mass manufacturing makes industrial
powerhouses successful.
Age of distribution
Global connections and transportation systems make distribution key
Age of information
Connected PCs and supply chains. Dominate by
controlling the information flow
Age of the customer
Empowered buyers demand a new level of
customer obsession
1900 1960 1990 2010
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“Digitization is creating New andHigher levels of Risk.
In fact, the Digital World is creating New types of Risk.”
Source: Gartner
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DIGITAL RISK MANAGEMENT: DAWN OF A NEW ERA?
This new era is centered on the evolving digital business transformation initiatives
© 2017 Software AG. All rights reserved.
©2017 Software AG. All rights reserved. For internal use only5 |
Opportunities Risks?+ -
Digital Age: Real-Time & Customer-centric
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INDUSTRY TRENDS RELEVANT FOR SAG & PARTNERS
© 2017 Software AG. All rights reserved. For internal use only
BUSINESS & TECHNOLOGY
Digital Risk1
Big data / Real-time analytics
3 Growing investments in GRC Technology
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Shift Compliance toBusiness Performance
2DIGITAL RISK IS EMERGING THAT UNDOUBTEDLY WILL DISRUPT THE CURRENT MARKETPLACE.
GRC WILL CONTINUE TO BE LESS ABOUT COMPLIANCE AND MORE ABOUT BUSINESS PERFORMANCE
IF EFFECTIVELY HARNESSED, THIS TREASURE TROVE OF GRC INTELLIGENCE CAN ENABLE ORGANIZATIONS TO ANTICIPATE AND MITIGATE EMERGING RISKS BEFORE THEY OCCUR.
RISK MANAGEMENT INVESTMENTS ARE PRIORITIZED OVER OTHER TECHNOLOGY INITIATIVES — SUCH AS BUSINESS INTELLIGENCE, ANALYTICS, MOBILE AND CLOUD COMPUTING
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DIGITALIZATION OF RISK
Manual Automated
Reactive Proactive
Retrospective Predictive
Financial Control Integrated business control
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Monitor business performance
Analyze bottlenecks
Approve change requests
Maintain Regulatorychanges
GOVERNANCE
Collaborate
Design& Analyze Dashboarding
MaintainRisk repository
Consume
Assessments
DIGITAL RISK
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BREAKTHROUGH SILO-BASED WORKING & NICHE TOOLS
Mobile devices in the Digital decade
Internal Audit
External Audit
Internal Control
Other roles:
DesignAnalyzeImproveShareProcess &
EA Worker
Detect regular changes UpdateDiscuss changes with LoBLegal Risk
Detect risksEvaluateAdvise LoBMonitor
LoB
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WE NEED TO SHIFT THE RISK PARADIGM
Impa
ct
Val
ue
Likelihood Appetite
Low Risk
High Risk
Bad Risk
Good Risk
From High or Low Risk To Good or Bad Risk
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Run the business
CustomerSatisfaction
OBJECTIVES VS RISKSBALANCING PERFORMANCE & RISK MANAGEMENT
Protect the business
Business Processes asthe Common
Ground
VISION, BUSINESS STRATEGY, CRITICAL SUCCESS FACTORS,
OBJECTIVES, KPIs
ImproveBusiness Performance
Real-TimeRisk Visibility
Costs
Times
Quality
Quantity
Risks
Business Continuity
Reliability
Sustainability
Corporate SocialResponsibility
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WHAT GOOD LOOKS LIKE
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STEP BY STEP APPROACH
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GET THE FOUNDATION. GET IT MANAGED. GET IT OPTIMIZED
Ad hocbusiness control
Business control with improvement areas
Design effective business control(Best Practices)
Operating effective business control (compliancy based)
Continuous monitoring integrated in performance management and continuous stakeholder dialog
Effe
ctiv
enes
s of
‘in
cont
rol’
Proactive (Strategyexecution)
M1
M2
M3
M4
M5
Initial Informal Standardized
Reactive
Managed Optimised
Foundation Managed Optimised
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HOW TO MAKE MONEY TOGETHER?3 WAYS…
• Develop industry use cases
• Publish collaterals on the Digital Marketplace
• Define a joint GTM
• Follow up leads and sell!
DEVELOP
• Target industries & accounts
• Business & Technical Discovery Workshop: provide Business Case
• Follow up leads and sell!
DISCOVER
• Start a Campaign
• Invite contacts for the Digital Fitness check
• Advise based on results
• Follow up leads and sell!
ASSESS
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RECENT PLATFORM WINS WITH PARTNERS Towards Continuous
Assurance powered by
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Michiel JornaGlobal Industry Director –
BPA & GRC Solutions
@mc_jorna