Integrating risk management with achieving objectives | Sabrina Segal

Can risk management actively support achieving your objectives? Is it possible for risk management to feel less burdensome? What is objective-centred risk management?

In this episode, you'll hear from Sabrina Segal, a third-sector integrity, risk, and compliance advisor.

Find out more about Sabrina on LinkedIn: https://www.linkedin.com/in/smsegal/

Listen to Sabrina’s podcast, Tolerable Risk: https://open.spotify.com/show/65pY1B7VtpEYvtgQ1WXI3O?si=38571e5ce2dc4c0d

Contribute More is hosted by Zac Parsons. Find out more about him on LinkedIn: https://www.linkedin.com/in/zwparsons/

// REFLECTION

Have a conversation with a colleague about how useful your current approach to risk management is, and whether objective-centred risk management might better suit your needs.

// RESOURCES

ISO 31000: https://www.iso.org/iso-31000-risk-management.html

To see Sabrina’s flower diagram: https://www.linkedin.com/feed/update/urn:li:activity:6906894632501022721/

Tim Leech: https://riskoversightsolutions.com/

// CHAPTERS

(0:00) Intro

(1:43) Defining risk management

(3:31) Hazards vs Threats

(6:16) Why should I spend time on risk management?

(8:16) Using the flower to map objectives and risks

(10:15) Risk management as an integrated part of our charitable work

(11:42) Objective-centred risk management vs traditional risk management

(17:20) Likelihood and severity in traditional risk management vs objective-centred risk management

(23:27) How do I prioritise risk mitigation without scoring risks?

(29:54) Risk management tools don’t work if misused by managers (spoilers)

(31:16) Costing risks and integrating risk management into decision-making

(33:33) Ongoing risk management and objective certainty reporting

(40:11) Key takeaways

(45:00) Outro

(46:11) Reflection