Top Risks To Be Considered In 2019

As old year passes by and new year comes, all of the things changes and sometimes progresses regardless
of relating to and walk of life. Similar situation goes with professional life as well and importantly in the
field of risk. Every year risk increases, it is not wholly bad news as ever since here’s increase in any kind of
risk, its solution also born its just that company has to identify that risk and then work accordingly. Every
year risk management gains more attention in the eyes of management and every year management has
to work according to kind of a risk they are facing. Enterprise Risk Management is a major part of risk
management which organizes, plans, controls and leads the functions of an organization in order to
reduces the possible risks that may affect the organization. If a company has invested better on its erm
software, then there are higher chances of lower risks. Risk mitigation becomes quite east if better risk
management system are installed with efficient risk management executives who can identify risk at right
time. Keeping the latest research in mind, following could be the top consideration for the risk that can
happen in rest of the year of 2019.

Employees Risk Assessment

Employee is kind a of an asset with whom the risk the always attached. Machine cannot make errors, but
human can, be it intentionally or unintentionally and in worst case they can be a big threat to a business
as well. To minimize these risk, proper training of employees can be a good help for their retention and
motivation and also having proper check on employees’ activities can also play an important role. Risk
managers should find a better way to keep their best staff motivated to give their best to their work and
this practice can help reducing the risk who leave. Careful monitoring of employees is also important to
protect the business against such risks and enhance the level of success of the company.

Unpredictable of Political Conditions

Regardless of business sizes, political instability can be a major threat to any company. We can never be
sure that what kind of government or political policy can be in favor of what business. For this ever-
changing political conditions, risks managers should make sure that they are having clear understanding
of political circumstances and they ready to face it and work according to minimize the risk in its best
possible form. For example, if some country is changing its transaction methods for the businesses to get
its payments from another country, then management should be having well awareness that in such
situation what would be the best possible solution the overcome with such issue.

Economic and Financial Risk Assessment

No matter how big or small the business is, any business can have a fear of financial risk. It is one the top
risks that can never be neglected. Every single business is made up of money invested firstly and mainly
and the rest of the things come. So, the first thing that is always on stake is money, both which is being
invested and the money which is about to come from company’s profits. If the company is not doing well
due to political or governmental changes or f there’s material issue or the product is not being sold as
expected or whatsoever, then a company can have domino effect which primarily would be the loss of
cash and then the company’s instability.

Risk Reporting

Challenge that originations usually faces is while reporting two kinds of risks which are what kind or
information should be discussed with internal and external management or vendors and how it should be
communicated. Handling external risks are not that difficult since external management or public is
limited to share certain information only. For example, financial statements, annual meetings, public
presentations, quarterly announcement etc. Whereas how risk should be communicated is concerned, it
is preferred to be done through board/audit committee, line management meetings and reports which
are typically generate through risk database, taxonomy etc.

Latest Technology and Market Trends

It is very important for any department of business to keep their selves update with the latest market
trends and the technology that is being introduced. Risk managers should be having a check in every
department and making sure that every department of a business is having right and relevant market and
industry update and also they are equipped with the best and latest technology that needed for their
business.

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