In recent years, the global risk environment has become increasingly volatile, unpredictable and dynamic. The risks are interrelated, generating new or unexpected scenarios that mean management must respond as quickly as changes occur.
This calls for risk management with a comprehensive vision, acting as a strategic tool to gain a competitive advantage from the challenges and complexity of the environment and creating an opportunity for your business to grow.
Parametric solutions are a way of managing risk for all organisations seeking strategies to deal with exposure, so that it does not have a significant effect on the management of their activity, sales or costs, and does not lead to volatility in their financial position.
Defining non-financial risk categories and calculating the likelihood of them occurring and the type of impact an event could have can help the organisation to identify, measure and manage exposure.
Once the non-financial exposures have been identified, they are carefully analysed so that mitigation strategies aligned with the company's short- and medium-term strategic plan can be applied.
Good governance, supervision and active communication can help create a risk culture that will help the company to react faster and more effectively, as soon as stress situations arise.