Navigating Uncertainty: Risk Governance in Complex Organizations

In an increasingly complex and interconnected world, managing risks is crucial for organizational survival and success. A well-defined risk governance framework integrates risk management into various aspects of the organizational structure, aligning risk-taking and risk aversion with an organization’s mission, values, and strategic goals to enhance resilience, compliance, and sustainability. Acknowledging the ever-evolving nature of the risk landscape, the chapter underscores the importance of a risk-savvy organizational culture, the need to integrate risk management into strategic decision-making, and calls for a comprehensive approach to risk governance that addresses diverse risk categories synergistically. Challenges such as resistance to change and the impact of technological advancements on risk management further highlight the ongoing evolution of and the complexities inherent in effective risk governance.