Ep 20: Modern Risk Management Must Drive Better Decisions feat. Prof. Stefan Hunziker

The conversation delves into the purpose and challenges of modern risk management, the importance of risk management in decision-making, the limitations of traditional risk reporting, the role of quantification, and the integration of risk management with internal audit and compliance. It emphasizes the need for risk management to shape decisions under uncertainty and be integrated into the decision-making process, with a focus on better judgment, resilience, and closer integration with other governance functions. Takeaways Risk management must shape decisions under uncertainty Integrated risk management is a part of the decision-making process The future of risk management involves better judgment, stronger resilience, and closer integration with internal audit, compliance, and leadership decisions Chapters 00:00 The Purpose of Modern Risk Management 07:42 The Importance of Risk Management 13:21 Practical Changes in Risk Management 18:39 Decision-Relevant Risk Reporting 24:15 Quantification in Risk Management 31:29 Integration with Internal Audit and Compliance