Page 8 - IRMSA Risk Report 2023

“Never doubt that a small group of

thoughtful committed citizens can

change the world.”

~Margaret Mead

The acceleration of automation and artificial muscle – through simulations that enables,
intelligence is transforming the world and creating strengthens, and improves quality of decision
a platform for new and in-demand tech skills, making in times of crisis and disruption.
presenting opportunities for our youth through
tech start-ups. Electric motor vehicles have surged As IRMSA, we continue to relentlessly support risk
in popularity. Work from home technologies and professionals and business leaders to make risk-
videoconferencing have become an indispensable based decisions by providing ongoing thought
part of modern business life, with huge productivity leadership, training, and professional designations.
gains and savings in time and travel. Fewer
commuters mean less traffic and pollution. As a We recently developed an integrated risk
working Mom, the flexibility to work from home on management framework that enables organisations
occasion is a tremendous asset. to improve decision making through the
integration of strategy, risk, and resilience; and this
The interconnected risk landscape makes it Flagship Risk Report that provides South African
imperative that we respond with an integrated risk landscape insights to business leaders, which
approach, drawing on committed and deliberate should be integrated into their strategy setting and
multi-disciplinary collaboration and partnerships, execution processes enhancing the quality of their
with national and international boundaries no decisions to ensure sustainable organisations. We
longer a limiting factor. We need to think and act are also pioneers of collaboration as witnessed by
differently if we wish to achieve different results. development of this Risk Report with participants
and experts coming from various industries and
This means taking bolder steps, holding each sectors; and internationally through our affiliation
other accountable, and heightening a culture of with IFRIMA (the International Federation of Risk
consequence management to rebuild the trust and Insurance Management Associations).
within our systems.
Inevitably, we will continue to live in turbulent
While looking at this changing landscape and and unpredictable times. While this may be true,
its many opportunities, we must think beyond we need to stay positive and remain alert to the
anticipating risks and trying to predict the future, countless opportunities that most often lie hidden
when it is far more useful to consider how resilient in the chaos. As risk professionals within our
and prepared, we are to respond to any new threat; respective organisations, let us lead our teams in
how quickly we can bounce back after disruptions, uncovering and building on these opportunities in
and how we can capitalise on opportunities with new, previously unimagined ways, remembering
speed and agility. It is no longer about if, but when that the kind of leaders we are, is reflected by the
the crisis happens, so it is imperative to encourage people we lead.
and build judgement and decision-making memory

“…uncertainty breeds limitless

possibilities because when nothing is

certain, anything is possible!”

8 IRMSA RISK REPORT 2023/24