15.1 More trends and future developments for risk management

Question 1

Emerging risks may be completelt new or a significant change in the nature or e_________ to an existing risk. Emerging risks are characterised by high levels of uncertainty, meaning that it can be very difficult to precisely assess the nature of these risks including the p__________ of occurence and level of i_______.

Answer 1

exposure
probability
impact

Question 2

Emerging risks are emerging facter and more often. This is linked to increasing levels of environmental c___________, economic, social and t__________ interconnectedness and g______________.

Answer 2

complexity
technological
globalisation

Question 3

Emerging risks may be identified and assessed using techniques like s_______ analysis, reverse s______ testing and P___ analysis.

Answer 3

scenarios
stress
PEST

Question 4

Current examples of emerging risk events include the networked e_______, social m____ and disruptive t___________.

Answer 4

economy
media
technology

Question 5

With increased gloabilisation and advances in t___________, organisations spend more resources to attract and retain their t_____. Talent risk management frameworks help organisations to forecast, prioristise and manage their talent gaps according to the s_______.

Answer 5

technology
talent
strategy

Question 6

The b_____ plays a key role in overseeing the execution of appropriate talent strategies, and the talent risks are managed as per the overall business o_________.

Answer 6

board

objectives

Question 7

With the development of computers, the i________ and social media, the volumes of data available for analysis has grown exponentially. New data collection, aggregation and v___________ techniques have been developed to help cope with the volume and variety of data that is available. The term “b___ d___” is used to refer to these techniques.

Answer 7

internet
visualisation
big data

Question 8

Automated decisions can be used to support risk management decision making. Computers may be able to do this faster than a h____ decision maker, potentially saving lives or generating higher i__________ returns.

Answer 8

higher

investment

Question 9

Automamted decisions may be human controlled via a__________ or more independent using a________ i___________ systems. Automated decisions speed up decision making. AI systems can cope with complex data trends and relationships that humans cannot process.

Answer 9

algorithms

artificial intelligence

Question 10

There are risks with using automated decision making and these decisions can go wrong. R__________ are only just starting to address the governance and c_________ implications of automated decision making.

Answer 10

Regulators

compliance

Question 11

The 21st century had brought with it unprecedented technological g_____ and new types of risks. These risks are forcing organisations to re-evaluate their current business m_____ and adopt new technologies to increase organisations productivity and e______________.

Answer 11

growth
models
effectiveness