Page 41 - 2022 IRMSA Risk Report

South Africa Top Risks

These principles and the relationships between them are depicted graphically below.

Do we Flags to Watch v Ì i y>}Ã Üi Ü>ÌV ] >Ài Sustainable
know ÀiyiVÌi` ˆ˜ œÕÀ ÃÌÀ>Ìi}ˆV organisations
which ÝÌiÀ˜> -Vi˜>ÀˆœÃ drivers and our risk appetite and a
scenarios œ vÀ>“iܜÀŽ] >˜` ˆv Ì iÞ >Ài sustainable
we may -Vi˜>Àˆœ -ÞÃÌi“à / ˆ˜Žˆ˜} aligned to the potential country in the
face? Ƃ˜>ÞÈà consequence in our risk long term
Yes ÕÌÕÀià / ˆ˜Žˆ˜} Ài}ˆÃÌiÀ] Üi “>Þ Li >Li ̜
promote a preffred scenario
Indicators to Monitor from materialising
Do we
know
ÕȘiÃà œ`i
which œ ÕȘiÃà œ`i
scenario -ÌÀ>Ìi}Þ "vviÀˆ˜}
suits us iw˜ˆÌˆœ˜ "vviÀˆ˜}
best? Yes />À}iÌ >ÀŽiÌ
/>À}iÌ >ÀŽiÌ
Outcomes to manage
In our Unsustainable
chosen as an
ÃÌÀ>Ìi}Þ] œ -ÌÀ>Ìi}ˆV œ>Ã organisation
do we ,ˆÃŽ in the long
know what Appetite Õ`}iÌ />À}iÌÃ term
to look Yes
out for? iÞ ,ˆÃŽ ˜`ˆV>̜ÀÃ
Horizon to Scan
If things œ Yes
}œ ÜÀœ˜}] œ “iÀ}ˆ˜} ,ˆÃŽ
can we ,ˆÃŽ
adapt and >˜>}i‡ ÝÌiÀ˜> /Ài˜`Ã
respond? Yes ment Are we aligned
ÕȘiÃà œ˜Ìˆ˜ÕˆÌÞ to other
organisations
in the country?
Do we Can we
œ know promote œ
which > ëiVˆwV Succeed as an
y>}à ̜ scenario? organisation in
Yes watch? Yes the short term

Figure 1: Relationship between scenarios, strategy, risk appetite and risk management.

˜ Vœ˜Ãˆ`iÀˆ˜} Ì i ̜« ˜ˆ˜i ÀˆÃŽÃ Ì >Ì -Ƃ v>ViÃ] œ˜i à œÕ` >ˆ}˜ Ì i “>ÌiÀˆ>ˆÃ>̈œ˜ œv Ì œÃi ÀˆÃŽÃ ̜ Ì i
«œÌi˜Ìˆ> ÃVi˜>Àˆœ ˆÌ i>`à ̜° / i ̜« ÀˆÃŽÃ ˆ˜ Ì ˆÃ Ài«œÀÌ œ˜ Ü ˆV - à «ÀœÛˆ`i Ì iˆÀ œ«ˆ˜ˆœ˜Ã >Ài ˆÃÌi`
LiœÜ\

• -œÕÌ ƂvÀˆV> LiVœ“ià > v>ˆi` ÃÌ>Ìi
• œ“«iÌi LÀi>Ž`œÜ˜ œv iÌ ˆV> >˜` i}> «Àˆ˜Vˆ«ià >VÀœÃà ÜVˆiÌÞ
• 1˜“>˜>}i>Li ÜVˆiÌ> ՘ÀiÃÌ >˜` LÀi>Ž`œÜ˜ œv Ì i ÀՏi œv >Ü
• œ“«iÌi iVœ˜œ“ˆV Vœ>«Ãi
• >VŽ œv ΈÃ ̜ i˜>Li iVœ˜œ“ˆV }ÀœÜÌ >˜` ÀiVœÛiÀÞ
• >À}i ÃV>i `ˆÃÀի̈œ˜ œv iVœ˜œ“ˆV >V̈ۈÌÞ ÀiÞˆ˜} œ˜ ÃÌ>Li ÃÕ««Þ œv ṎˆÌˆiÃ
• >À}i ÃV>i ˆ˜ÌiÀÀի̈œ˜ œv `ˆ}ˆÌ>Þ i˜>Li` ÃiÀۈVià >˜` iVœ˜œ“ˆV >V̈ۈÌÞ
• iLˆˆÌ>̈˜} œÃà œv ÌÀ>`i Li˜iwÌÃ Ì ÀœÕ} -Ƃ «œÀÌà ˆ˜Ìœ ƂvÀˆV>
• ˜>`iµÕ>Ìi Ài뜘Ãi ̜ VÕÀÀi˜Ì >˜` vÕÌÕÀi Vˆ“>Ìi V >˜}i ˆ“«>VÌÃ
>Ãi` œ˜ Ì i ˆ˜ÌiÀۈiÜÃ ÜˆÌ - à ˆÌ ˆÃ Vi>À Ì >Ì -Ƃ v>ViÃ Ì i ÀˆÃŽ œv LiVœ“ˆ˜} > v>ˆi` ÃÌ>Ìi] `ÀˆÛi˜ LÞ >
LÀi>Ž`œÜ˜ œv iÌ ˆV> >˜` i}> «Àˆ˜Vˆ«iÃ] ÜVˆ> ՘ÀiÃÌ >˜` v>ˆÕÀi œv Ì i ÀՏi œv >Ü] ÀiÃՏ̈˜} ˆ˜ Vœ“«iÌi
iVœ˜œ“ˆV Vœ>«Ãi° / ˆÃ V>˜ œ˜Þ Li ÌÕÀ˜i` >ÀœÕ˜` ˆv Üi >``ÀiÃÃ Ì i ΈÃ ÀˆÃŽ ̜ i« Õà >ۜˆ` `ˆÃÀի̈œ˜
`Õi ̜ ՘ÃÌ>Li ṎˆÌÞ ÃÕ««Þ >˜` `ˆ}ˆÌ>Þ i˜>Li` iVœ˜œ“ˆV >V̈ۈ̈iÃ] ÀiÌ>ˆ˜ œÕÀ ÀiiÛ>˜Vi ̜ ƂvÀˆV> >˜`
>``ÀiÃà Vˆ“>Ìi V >˜}i ÀˆÃŽÃ°

IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION 39