Risk Management and the Internet

“The internet provides its users will valuable resources for research and analysis, and for risk management the new innovation is utilising the richness of data on the internet as a critical tool for success.”

That is a quote that we hope soon will be in the minds of all good risk managers.  Not because we want to be quoted, but because we genuinely wish for the risk management profession to move beyond only the “qualitative opinion” to the “quanti-qualitative fact”.  The Innovation of Risk is about helping individuals and organisations achieve the goal of changing risk, and risk management, into a philosophy that is not a “support function” of the business but is the business.

Recently we posted an infographic we had been working on regarding operational risk.  Today we are proud to release another infographic which is an analysis of risk management and the internet.  We found this analysis quite interesting.  Most significantly were the statistics on searches performed for risk conferences, risk training and top 1o risks, compared to searches for risk jobs, risk careers and chief risk officer.  We leave it up to each of you to draw your own conclusions, and do your own further analysis.  However, when you look at the data there seems to be a definitive trend away from training and conferences in risk, yet an increase in the number of career and job related searches.

In addition, there have been a lot of recent articles and postings on the top 10 risks for 2011.  Although utilising the first page of google search as a source of the truth has its dangers, we do note that currently technology, cyber security and offshore outsourcing each make the front page of search.   We looked back at our posting in February 2011 on the February View of the Top 10 Risks and noted the following:

  • Industry breaking technology was our number 2 risk;
  • Data security and privacy was our number 5 risk; and
  • 3rd Party arrangements was our number 7 risks.

With that, we are proud to share the newest infographic on “Risk Management and the Internet”.

We hope you enjoy it and please feel free to share this with others.






Scott North has extensive experience in enterprise risk management, internal audit, operational risk and compliance, risk strategy, scenario planning, technology risk, technology business analysis, systems design, financial accounting, and management accounting. Scott is a Fellow of the Australian Institute of Chartered Accountants with a Masters Degree from the University of Melbourne in Business and Information Technology. Scott is also a Fellow of the University of Melbourne.

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