Page 76 - IRMSA Risk Report 2021

7. INQUIRING MIND

Another executive attribute that will bolster the competence of risk professionals is the ability to ask questions – knowing what to
ask and when to ask it and knowing how to handle any difficulty or controversy.

Strategies are developed by asking and answering questions and can only be understood by asking questions and seeking answers.
The answers to the questions posed assist in validating the robustness of strategies. Solid strategies can withstand scrutiny. Risk
professionals must be curious and courageous in asking questions – not for the purpose of appearing smart, but for the purpose
of seeking to understand so that risk advice and assurance can be based on a firm premise.

8. USE TOOLS SKILLFULLY

Risk professionals must know and be able to apply appropriate tools to facilitate a structured approach to strategic analysis and
decision-making. The purpose of decision-making is not just to minimise harm to the business but equally, if not more importantly,
to decide on the risk-taking strategies to achieve objectives and maximise organisational performance and success.

4.8 PULLING IT ALL TOGETHER

COMPETENT A FUTURE-FIT
COMPETENT COMPETENT
RISK COMPETENT SOUTH AFRICA
PROFESSIONAL ORGANISATIONS
PROFESSIONALS STATE & A RESILIENT
BODY
NATION

Professional bodies such as IRMSA support the risk professional, so that the risk professional can be the first cause to developing
risk competence in their organisation and then integrating the risk competencies of the organisation with the risk competencies
of the state. Risk professionals should voluntarily participate and contribute to the growth of the profession. Professional bodies
should engage government and make members available to serve in forums and task teams between organisations, institutions,
industry bodies and the state – this to find common ground, share experience, and work towards achieving national resilience. This
takes time and effort but the prize of a future-fit and resilient country with a thriving economy, able to overcome shocks, bounce
back, and grow, makes the journey worthwhile.

5. REFERENCES:
1. https://www.strategicrisk-asiapacific.com/home/parima-risk-managers-will-have-a-stronger-voice-post-covid/1435309.
article
2. https://www.erminsightsbycarol.com
3. https://www.garp.org/#!/risk-intelligence/culture-governance/erm/a1Z1W000005jcZyUAI
4. https://www.weforum.org/reports/the-future-of-jobs-report-2020
5. https://www.mckinsey.com/business-functions/risk/our-insights/when-nothing-is-normal-managing-in-extreme-uncer-
tainty

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