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