Setting an Effective External Risk Management Program by Famien Konan

A featured article of our January 2020 edition of PRMIA's Intelligent Risk quarterly newsletter

Unlike preventable and strategy risks, external risks are beyond an organization’s influence or control. Examples include natural disasters such as the 2010 Iceland volcano eruption, major macroeconomic shifts, and political violence including terrorism. Because organizations cannot prevent such events from occurring, the risk management emphasis is on identifying them, and figuring out through scenario planning and stress testing how best to mitigate their impact in the event they occur.

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Intelligent Risk is PRMIA's quarterly publication, bringing all PRMIA members free access to knowledge and information about risk management for financial institutions as well as current information on PRMIA chapters, committees, academic partners, news and events.

Individual articles from each edition are published under our members only Risk Library resources section. PRMIA is sharing select articles from the January 2020 edition with the public. Get more articles like this by joining PRMIA today.

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