Supercharge Your Risk Management with AI

ChatGPT, whether you like it or not, is an AI-powered tool that has already moved from science-fiction to real-world application at a very rapid pace. It is one of the many AI tools we use daily, like Siri or Google Assistant, where its conversational fluency helps bring digital powers to everyday users.

The good news is that AI and robots will actually help people to get more done and have free time for more creative, strategic work. AI-powered tools can analyse vast amounts of data quickly and provide insights that enable more informed decision-making, taking over boring and routine tasks and doing them quicker and more accurately than people.

A number of big players like Microsoft and Adobe are already using the power of large language models to allow chat-style interaction with their software.

Checkr surveyed 3,000 employed Americans — an equal number of Boomers, Gen Xs, Millennials, and Gen Zs — and found that 85% of American workers have used AI tools to perform tasks at work. Millennials lead the group with 89% saying they’ve used AI at work.

A lesson on writing prompts for generative AI

Like any tool, the usage will depend on how the tool is used.

Humans, with all their biases, must input the appropriate text-based commands, or prompts, into ChatGPT for it to understand and respond to. It’s basically describing what you want the generative AI to do for you and how.

A prompt may contain any combination of questions, statements, definitions, instructions and input data (or context).

Before you get started with AI prompts, here are a few things to keep in mind:

Critically evaluate the output – AI performs three core functions: processing data, identifying patterns, and making predictions. It was NOT designed to fact-check its own outputs, which is why it’s important to do your due diligence and manually verify the accuracy and completeness after the response has been generated. Remember, it is only a tool. Exercise critical judgment and validation always.
AI model training biases – The data used to train and fine-tune AI models like ChatGPT can contain biases. While efforts are made to minimise biases during the training process, it can be challenging to completely eliminate them.
Human biases – Apart from AI model training biases, bias can also arise from the way users interact with the model using prompts or how prompts are structured.
There’s no magic prompt – The Internet is flooded with AI prompts, but it might take some trial and error before you figure out which type is most effective for your particular use case.
Clarify your desired outcome – The response will generally be as broad or specific as its prompt. In some cases, it might actually be preferable to skimp on the details; like if you’re brainstorming blog post topics and want more varied and diverse answers. Something more complex, like a sales playbook or chatbot script, will almost always require more details.
Garbage in, garbage out – The quality of the output depends entirely on the input. If you do not take the time to flesh out your prompts, you find yourself drowning in responses that are unclear, inaccurate, irrelevant or just wildly off-base.
Always be testing and improving – Prompt iteration – tweaking, testing, and refining different types of instructions – will help you generate more usable responses over time. Often, it’s just a matter of rephrasing your prompts, playing around with synonyms or even generating the responses several times.
More contextual information required – Contextual information provides a clearer understanding of the specific situation, industry, or organisation in question. This enables ChatGPT to generate more accurate and relevant responses that are tailored to your unique circumstances or requirements, and better aligned with your specific needs, allowing for more actionable insights. With more context, ChatGPT can avoid making assumptions or providing generic responses.

Pros and cons of using ChatGPT for risk management

Using ChatGPT (or similar AI language models) can offer several benefits but also comes with certain considerations.

Pros of using ChatGPT

Access to information – ChatGPT can provide quick access to a wide range of information and knowledge on various risk management topics. It can assist in answering questions, explaining concepts, and providing insights based on its training data.
Idea generation – ChatGPT can help generate ideas and suggestions for risk identification, assessment, and mitigation strategies for further consideration and discussion. It can provide alternative perspectives and considerations that may not have been initially explored.
Risk scenario analysis – ChatGPT can assist in analysing hypothetical risk scenarios by providing insights based on historical data or general risk management principles. It can help evaluate potential impacts, likelihoods, and possible mitigation approaches.
Continuous learning – ChatGPT can learn and adapt based on user interactions. As you engage with the model and provide feedback, it has the potential to improve its responses over time, allowing for a more personalised and tailored experience.

Cons of using ChatGPT

Lack of context and specificity – ChatGPT may not fully understand the specific context, nuances, or details of your organisation or industry. Its responses are based on patterns observed in the training data, which may not always align perfectly with your unique circumstances.
Potential bias – AI language models like ChatGPT are trained on vast amounts of data, which can inadvertently include biases present in the training data. This can lead to biased or inaccurate responses, particularly on sensitive or controversial topics. It is important to critically evaluate and verify the information provided by ChatGPT.
Limited understanding of current events – ChatGPT’s knowledge is based on data available up until September 2021. It may not have access to the most up-to-date information, industry trends, or regulatory changes that have occurred since its training data cut-off.
Ethical and legal considerations – When using AI models for risk management, it is crucial to consider ethical and legal implications. Ensure compliance with data privacy regulations, maintain data security, and address any potential ethical concerns related to AI usage.
Overreliance on AI – Relying solely on ChatGPT or any AI system without human judgment and expertise may not be ideal. It is important to balance AI-driven insights with human judgment, experience, and critical thinking.

Use ChatGPT as a tool to augment your work, complementing your expertise and decision-making processes.

ChatGPT prompts that you can use for risk management

Tailor the responses to your specific context – organisation, industry and country – and consult with professionals or experts for specific advice or guidance. Be creative in exploring different prompts.

1. Risk governance

“Act as a CEO and write a business-focused practical risk management policy according to ISO 31000 for [web page URL].”
“Act as a CEO and write a comprehensive risk strategy for [web page URL]. The strategy must detail all steps, actions, and deliverables to be produced including performance indicators to monitor progress and for reporting purposes. A risk management strategy is a structured approach to addressing risks and can be used in companies of all sizes and across any industry.”
“Create a risk universe for [web page URL]. The risk universe is the list of risks the company faces or might face. This risk universe can be used as a checklist to identify, consolidate and aggregate risk events across the organisation for reporting and monitoring. Tell me how to apply the risk universe.”
“What are the key components of a robust risk governance framework for a company with [number of employees] operating in the [industry] in [country]? How can we establish a structure that promotes effective risk management throughout the organisation?”
“What roles and responsibilities should be defined for effective risk governance? How can we allocate accountability and ensure clear ownership of risks, controls and treatments?”
“How can the board and senior management effectively engage in risk governance? What practices or mechanisms can be implemented to promote their active involvement?”
“How can we define and communicate the organisation’s risk appetite and tolerance levels? What considerations should be taken into account when establishing these parameters?”
“What policies and procedures should be developed to guide risk governance activities? How can we ensure they align with industry best practices and regulatory requirements?”
“What reporting mechanisms should be in place to provide regular updates on risk governance activities? How can we effectively communicate risk information to relevant stakeholders?”
“How can we foster a strong risk culture within the organisation? What initiatives can be implemented to promote risk awareness and encourage risk-conscious behaviours?”
“What mechanisms should be established to monitor and review the effectiveness of risk governance practices? How can we ensure continuous improvement in risk management?”
“Create a comprehensive business continuity and resilience strategy for [web page URL] that incorporates the managing of third-party and supply chain risks that complies with the requirements of ISO 22301.”
“What are the steps to take to move from risk management 1.0 to risk management 2.0 and 3.0?”

2. Risk identification

“Identify key strategic risk events that may impact the achievement of strategic objectives for [web page URL]. Risk is defined as the effect of uncertainty on objectives. For each risk identified, list linkage to a strategic objective, causes of the risk, consequences of the risk, possible controls and treatments to mitigate the risk, key risk indicators and key control indicators”
“What are some common risks and issues that [country] organisations in [your industry] face? How can we identify and prioritise these risks within our organisation?”
“How can we assess the likelihood and potential impact of [specific risk] on our organisation? What factors should we consider in our risk assessment process?”
“What are some effective strategies or controls that can be implemented to mitigate risks associated with [specific area or process]? How can we evaluate their effectiveness?”
“Are there any emerging risks or trends in [your industry] that we should be aware of? How can we proactively identify and assess these risks to stay ahead?”
“What are some internal factors within our organisation and [industry] that may pose risks? How can we identify and evaluate risks related to our operations, systems, or culture when we operate as [organisational type]?”
“What are some external factors or events that can impact our organisation in the [industry]? How can we identify and assess risks related to the [country] economy, regulatory changes, or geopolitical factors?”
“How can we map and prioritise risks based on their likelihood and potential impact in [industry]? What tools or frameworks can be used to visually represent and analyse risk landscapes?”
“How can we determine and define our organisation’s risk appetite and tolerance levels? What considerations should be taken into account when assessing risk tolerance in our [industry]?”
“What are some common methods for identifying risks within an organisation operating in [industry]?”
“How can we identify and categorise risks in different areas of our business?”
“What techniques or tools can we use to ensure comprehensive risk identification?”
“How to conduct a 2-hour risk identification workshop with the right stakeholders participating in the workshop? Develop the agenda for the workshop. For each agenda item, list out action steps to take, and duration. Highlight key outcomes.”

3. Risk scenario analysis

“Based on historical data and industry trends, what are the potential risks and impacts of [specific scenario] on our organisation operating in [industry] and [country]?”
“What is the likelihood of [specific risk] occurring in our organisation? What could be the potential severity or impact if it does happen?”
“What are some effective mitigation strategies we can implement to minimise the risks associated with [specific scenario]? How can we proactively address these risks?”
“In the event of [specific risk scenario], what steps should we take to respond effectively and recover our operations? Are there any key considerations or best practices?”
“What are the potential costs and benefits of investing in risk mitigation measures for [specific scenario]? How can we assess the return on investment and prioritise our efforts?”
“Based on similar past incidents or industry case studies, what are the key lessons learned that we should consider when planning for [specific risk scenario]?”
“What are some emerging risks or trends in [our industry] that we should be aware of? How can we proactively assess and address these risks to ensure our resilience?”

4. Risk assessment

“What are the key sources of risk that should be considered when conducting a risk assessment for our organisation operating in [industry] and [country]? How can we identify and document potential risks?”
“What are the different methods and approaches available for analysing and evaluating risks? How can we assess the likelihood and impact of identified risks?”
“What criteria and scoring systems can we use to prioritise risks based on their severity and potential consequences? How can we establish a consistent and objective risk rating process?”
“What factors should we consider when assessing the likelihood and impact of risks?”
“How can we prioritise risks based on their significance and potential consequences?”
“What methods or models can we use to quantitatively or qualitatively assess risks?”

5. Risk analysis

“How can we analyse the probability of [specific risk] occurring within our organisation operating in [industry]? What factors should we consider in our risk analysis process?”
“What methods can we use to assess the potential impact of [specific risk] on our organisation? How can we evaluate the consequences of the risk materialising?”
“How can we analyse our organisation’s exposure and vulnerability to [specific risk] operating in [industry]? What factors or assets are particularly susceptible to the risk?”
“How can we evaluate the effectiveness of existing risk controls in mitigating [specific risk]? What indicators or metrics can we use to measure their performance?”
“What are the potential interdependencies between different risks within our organisation? How can we analyse the cascading effects and correlations between risks?”
“How can we analyse historical data and incident records to identify patterns and trends related to [specific risk]? What statistical methods or data visualisation techniques can we use?”
“What are some hypothetical scenarios we can develop to analyse the impacts of [specific risk]? How can we simulate and evaluate different outcomes?”
“How can we effectively report and communicate risk analysis findings to stakeholders? What are the key elements to include in risk analysis reports or presentations?”

6. Risk evaluation

“How can we assess the likelihood and potential impact of [specific risk] in [industry]? What factors should we consider in our risk evaluation process?”
“What methods or frameworks can we use to score and prioritise risks based on their likelihood and impact? How can we determine which risks require immediate attention?”
“What are the advantages and limitations of quantitative and qualitative approaches to risk evaluation? How can we combine both methods to get a comprehensive understanding?”
“How can we analyse and evaluate our organisation’s exposure and vulnerability to [specific risk] in [industry]? What indicators or metrics can we use to assess our readiness?”
“What are some effective tools or techniques we can utilise for risk evaluation in [industry]? How can we leverage technology or data analysis to enhance our assessment capabilities?”
“How can scenario analysis and simulation help in evaluating risks? What are the steps involved in conducting a scenario-based risk evaluation?”
“How can we involve subject matter experts and engage relevant stakeholders in the risk evaluation process? What are the benefits of gathering diverse perspectives?”
“What criteria or parameters should we use to evaluate the significance of risks in [industry]? How can we establish thresholds or benchmarks for risk acceptability?”

7. Risk mitigation

“What are some effective risk treatment options we can consider for mitigating [specific risk] in [industry]? How can we develop practical and cost-effective strategies to address this risk?”
“What control measures or safeguards can be implemented to reduce the likelihood or impact of [specific risk]? How can we ensure their effectiveness?”
“List examples of key control indicators used in our [industry]”
“Are there any risk transfer strategies or mechanisms we should explore for [specific risk]? What considerations and potential benefits are associated with transferring the risk to a third party?”
“How can we develop strategies to avoid or minimise exposure to [specific risk]? What alternatives or changes can be made to our processes or operations to mitigate the risk?”
“What are some specific techniques or practices we can employ to mitigate [specific risk]? How can we apply these techniques effectively within our organisation?”
“How can we develop resilience and continuity plans to ensure quick recovery and business continuity in the face of [specific risk] in [industry]? What key elements should be considered in our planning efforts?”
“What training and awareness initiatives can we implement to enhance risk awareness and knowledge within our organisation operating in [industry]? How can we ensure employees are equipped to effectively identify and manage risks and issues?”
“How can technology solutions and automation be utilised to address [specific risk]? What tools or systems can be implemented to enhance our risk treatment capabilities?”
“What strategies can we employ to mitigate or reduce identified risks in [industry]?”
“How can we develop effective controls or measures to manage risks in [industry]?”
“What considerations should we keep in mind when selecting and implementing risk treatments in [industry]?”

8. Risk monitoring and review

“What are some key components of an effective risk monitoring framework for an organisation operating in [industry]? How can we establish processes and mechanisms to regularly monitor risks within our organisation?”
“What are some examples of key risk indicators (KRIs) that can be used to monitor [specific risk] in [industry]? How can we identify and track these indicators to provide early warning signs?”
“How can we track and analyse risk events that occur within our organisation? What information should be captured and how can we learn from past events?”
“What elements should be included in a risk dashboard or report? How can we effectively communicate risk information to stakeholders and provide meaningful insights?”
“How can we establish a process for timely risk escalation and notification? What criteria or thresholds should trigger immediate action or reporting?”
“How can we analyse trends and patterns in risk data over time? What techniques or tools can be used to identify emerging risks or changes in risk profiles?”
“How often should we provide risk reports or updates to stakeholders? What factors should be considered in determining the appropriate reporting frequency?”
“What strategies can we employ to effectively communicate risk information to different stakeholders? How can we tailor our messages to ensure clarity and understanding?”
“What are some best practices for ongoing risk monitoring and tracking?”
“How can we establish a process to regularly review and update our risk management efforts?”
“What indicators or metrics should we use to assess the effectiveness of risk controls in [industry]?”

9. Risk communication

“How can we effectively identify and categorise our stakeholders in the context of risk management in [industry]? What criteria or methods can we use to determine their significance and influence?”
“What strategies can we employ to engage and communicate with our stakeholders regarding risk management in [industry]? How can we ensure their active participation and buy-in?”
“What communication channels and methods should we use to engage our stakeholders in risk-related discussions in [industry]? How can we tailor our messages to different stakeholder groups?”
“How can we effectively share risk-related information with our stakeholders? What considerations should we keep in mind to ensure transparency and clarity in our communication?”
“What techniques or methods can we use to facilitate stakeholder consultation in the risk management process? How can we gather their input and incorporate it into decision-making?”
“How can we manage stakeholder expectations regarding risk management? What strategies can we employ to address any concerns or misconceptions?”
“How can we gather and incorporate stakeholder feedback regarding risk management? How should we respond to their inquiries, suggestions, or concerns?”
“What training or educational initiatives can we implement to enhance stakeholder understanding of risk management? How can we build their capacity to contribute effectively?”
“How can we effectively communicate risks to stakeholders in [industry]?”
“What information should be included in risk communication to ensure clarity and understanding in [industry]?”

10. Risk reporting

“What are the reporting best practices used in [industry]?”
“What should be included in a comprehensive risk report?”
“How can we present risk information in a clear and concise manner?”
“What frequency and format should be used for risk reporting to different stakeholders?”

11. Risk culture

“Act as a CEO and write a detailed business-focused practical plan to uplift the risk culture for [web page URL]. The plan must detail all steps, actions, deliverables to be produced and key risk culture indicators. Risk culture describes the values, beliefs, knowledge, attitudes and understanding of risk shared by a group of people with a common purpose.”
“How would you define a strong risk culture within an organisation operating in [industry]? What are the key characteristics and behaviours that contribute to a positive risk culture?”
“What role does leadership play in fostering a risk-aware culture in [industry]? How can senior executives and managers set the tone at the top to promote risk consciousness?”
“How can organisations engage and empower employees to actively participate in risk management efforts? What initiatives or practices can encourage their involvement?”
“What types of training programs or educational initiatives can be implemented to enhance risk management competence across the organisation operating in [industry]? How can we raise awareness about risk-related topics?”
“How can effective communication and transparency contribute to a strong risk culture? What strategies or channels should be utilised to ensure clear and open dialogue about risks?”
“How can organisations incentivise and recognise individuals or teams that demonstrate good risk management practices in [industry]? What types of rewards or recognition programs can be implemented?”
“How can organisations create an environment where employees learn from mistakes and take calculated risks? How can we foster a culture of continuous improvement and innovation?”
“What steps can organisations take to embed risk management in their day-to-day processes and decision-making in [industry]? How can we ensure risk considerations are integrated into strategic planning?”
“How can we foster a risk-aware culture within our organisation in [industry]?”
“What steps can we take to promote risk management competence and awareness among employees?”
“How can we integrate risk management into our organisation’s decision-making processes in [industry]?”

12. Risk training and awareness

“Create a comprehensive risk management training and awareness program for [web page URL] that incorporates external third parties to uplift the organisation’s risk management maturity and capabilities. Include the following:
- Type, length, target audience, outline and details of the course.
- Lesson plan for each course.
- Competency level of the target audience.
- Pre-requisite knowledge or experience
- How to measure the effectiveness of the training program
- Develop a business case for the program.”
“What are the key fundamentals and concepts of risk management that should be covered in a training program?”
“What are some commonly used risk management frameworks that can be incorporated into our training program? How do they provide guidance for risk identification, assessment, and treatment?”
“What are some effective techniques and methods for assessing risks in [industry]? How can we train employees to apply these techniques in their specific roles and responsibilities?”
“What are some practical strategies and controls that can be implemented to mitigate or reduce identified risks in [industry]? How can we educate employees on these strategies?”
“How can we effectively communicate risk-related information to different stakeholders? What should be included in risk reports? How can we train employees to deliver clear and concise risk messages?”
“How can we create a risk-aware culture within our organisation in [industry]? What behaviours and attitudes should be promoted? How can we train employees to think critically about risks?”
“What is some industry-specific risks and considerations that should be included in our training program? How can we tailor the training to address the unique risks in [industry]?”
“Can you provide some real-life examples or case studies that illustrate the importance of risk management in [industry]? How can we use these examples to enhance training and understanding?”

13. Risk appetite

“How would you define risk appetite? What does it encompass in the context of an organisation’s risk management framework?”
“What factors should be considered when determining the organisation’s risk tolerance levels in [industry]? How can we assess our capacity to take on different levels of risk?”
“How can we ensure that our risk appetite aligns with our organisation’s strategic goals and objectives? What considerations should be taken into account when formulating risk appetite statements?”
“What are the pros and cons of using quantitative measures (e.g., financial thresholds) versus qualitative measures (e.g., narrative statements) to express risk appetite? How can we strike a balance between the two?”
“How can we develop risk appetite statements that address different risk categories, such as financial, operational, or reputational risks in [industry]? What specific considerations should be taken for each category?”
“How can we ensure that our risk appetite statements are effectively linked to our risk management practices? How can they guide decision-making and risk treatment processes?”
“What strategies can we employ to effectively communicate and socialise our risk appetite statements across the organisation? How can we ensure understanding and buy-in from stakeholders?”
“How often should we review and update our risk appetite statements? What triggers or events may necessitate a reassessment of our risk appetite?”

14. Third-party risk management

“What are some effective methods and criteria for assessing the risks associated with third-party relationships in [industry]? How can we enhance our risk assessment process to identify and prioritise potential risks?”
“What are the key considerations and best practices for conducting due diligence on potential vendors in [industry]? How can we improve our vendor selection process to ensure alignment with our risk appetite?”
“What are some essential risk controls and provisions that should be included in contracts with third-party vendors in [industry]? How can we strengthen our contractual agreements to mitigate potential risks?”
“How can we establish robust mechanisms for ongoing monitoring and performance management of our third-party vendors in [industry]? What key indicators and metrics should we track to ensure compliance and risk mitigation?”
“What strategies and plans should be in place to address incidents and disruptions related to third-party vendors in [industry]? How can we improve our incident response and business continuity capabilities?”
“How can we enhance communication and information sharing with our third-party vendors regarding risk management in [industry]? What channels and practices can be implemented to foster transparency and collaboration?”
“What training and awareness programs should be provided to our third-party vendors to ensure they understand and comply with our risk management requirements in [industry]? How can we promote a risk-conscious culture among our vendors?”
“How can we capture and apply lessons learned from past experiences with third-party vendors to enhance our risk management practices in [industry]? What mechanisms can be implemented for continuous improvement?”

15. Information risk management

“What are the key steps and methodologies for conducting an effective information risk assessment in [industry]? How can we classify our information assets based on their criticality and sensitivity?”
“What are the best practices for identifying and remediating vulnerabilities in our information systems in [industry]? How can we improve our patch management processes to address potential security risks?”
“What are the essential controls and measures to protect sensitive data and ensure compliance with privacy regulations in [industry]? How can we enhance our data protection practices?”
“What strategies and mechanisms can we implement to ensure proper access controls and user management within our information systems? How can we strengthen authentication and authorisation processes?”
“What plans and procedures should be in place to effectively respond to information security incidents and ensure business continuity? How can we improve our incident response capabilities?”
“What training and awareness programs should be implemented to educate employees about information security risks and best practices? How can we foster a security-conscious culture within our organisation?”
“How can we effectively manage the risks associated with third-party vendors and their access to our information systems? What controls and monitoring mechanisms should be in place?”
“What are the key compliance and regulatory requirements that our organisation needs to adhere to regarding information risk management? How can we ensure ongoing compliance?”

16. Cybersecurity risk management

“What are the current trends and emerging risks in the cybersecurity landscape that our organisation should be aware of? How can we proactively identify and assess these risks?”
“What are the recognised cybersecurity frameworks and standards that we can adopt to strengthen our risk management practices? How can we align our cybersecurity efforts with industry best practices?”
“What methodologies and tools can we use to conduct thorough security risk assessments and vulnerability management? How can we prioritise and remediate vulnerabilities effectively?”
“What are the essential components of an effective incident response plan? How can we enhance our cyber incident management capabilities to minimise the impact of security incidents?”
“What strategies and practices should we implement to raise cybersecurity awareness among our employees? How can we develop effective training programs to educate them about common risks and best practices?”
“What measures can we put in place to strengthen identity and access management within our organisation? How can we ensure appropriate authentication and authorisation controls?”
“What are the recommended approaches and technologies for safeguarding sensitive data through encryption and data protection methods? How can we improve our data protection practices?”
“How can we enhance our third-party risk management practices to mitigate cybersecurity risks associated with our vendors and partners? What should be considered when evaluating their security posture?”

17. Business continuity and resilience management

“What are some best practices for developing a comprehensive business continuity plan?”
“Can you provide examples of potential risks and disruptions that organisations commonly overlook in their business continuity planning in [industry]?”
“How can we assess the effectiveness of our existing business continuity strategies and identify areas for improvement?”
“What are some key considerations for ensuring the resilience of our supply chain in [industry]?”
“How can we enhance our IT infrastructure’s resilience to prevent or mitigate cyber threats and data breaches?”
“What are the recommended steps for conducting a business impact analysis to identify critical processes and prioritise recovery efforts in [industry]?”
“Can you suggest strategies for effectively communicating with stakeholders during a crisis or disruption?”
“What are the essential elements of an incident response plan, and how can we develop an effective one?”
“How can we ensure the regular testing and validation of our business continuity plans?”
“What emerging trends or technologies should we consider enhancing our organisation’s resilience capabilities in [industry]?”
“Can you provide insights on how other organisations in [industry] have successfully implemented business continuity and resilience management strategies?”
“What are the key roles and responsibilities within an organisation when it comes to business continuity and resilience management?”
“How can we incorporate lessons learned from past incidents or disruptions into our business continuity planning?”
“What are the critical components of a crisis communication strategy, and how can we develop one for our organisation?”
“Are there any regulations or industry standards that we should be aware of when it comes to business continuity and resilience management in [industry] and [country]?”

18. Compliance risk management

“What are the key components of an effective compliance risk management program in [industry]?”
“Can you provide an overview of regulatory requirements relevant to [industry] that we should consider in our compliance program?”
“How can we assess and prioritise compliance risks specific to our organisation in [industry]?”
“What are some best practices for developing and implementing compliance policies and procedures in [industry]?”
“Can you provide examples of common compliance gaps or vulnerabilities that organisations often overlook in [industry]?”
“What strategies can we employ to ensure ongoing compliance monitoring and reporting in [industry]?”
“How can we establish a culture of compliance throughout our organisation?”
“What are the recommended steps for conducting a compliance risk assessment?”
“What tools or technologies can we leverage to streamline compliance risk management processes in [industry]?”
“How can we effectively communicate compliance requirements and expectations to employees and stakeholders?”
“What are the potential consequences of non-compliance in [industry], and how can we mitigate those risks?”
“What are the emerging trends and developments in compliance risk management that we should be aware of in [industry]?”
“Can you provide insights on how other organisations in [industry] have successfully implemented compliance risk management strategies?”
“How can we ensure that our third-party vendors and partners are compliant with relevant regulations?”
“Are there any specific compliance frameworks or standards that we should consider adopting for our organisation in [industry]?”

19. Performance risk management

“What are the key components of an effective performance risk management framework in [industry]?”
“Can you provide examples of performance risks that organisations commonly face and strategies to mitigate them in [industry]?”
“How can we identify and assess performance risks specific to our organisation in [industry]?”
“What are some best practices for setting performance objectives and key performance indicators (KPIs) to manage performance risks in [industry]?”
“How can we establish a culture of performance accountability and continuous improvement within our organisation?”
“What strategies can we employ to monitor and track performance metrics effectively in [industry]?”
“How can we identify early warning signs and indicators of potential performance risks in [industry]?”
“What are the recommended steps for conducting a performance risk assessment?”
“Can you suggest approaches for aligning individual and team performance goals with organisational objectives to mitigate performance risks?”
“What tools or technologies can we leverage to streamline performance risk management processes?”
“How can we effectively communicate performance expectations to employees and stakeholders?”
“What are some emerging trends and developments in performance risk management that we should be aware of in [industry]?”
“Can you provide insights on how other organisations in [industry have successfully implemented performance risk management strategies?”
“What are the key roles and responsibilities within an organisation when it comes to performance risk management?”
“Are there any specific performance frameworks or methodologies that we should consider adopting for our organisation in [industry]?”

20. Management of financial and financial-related risks

“What are the common financial risks that organisations in [industry], and how can we identify them effectively?”
“What are some key indicators or warning signs of potential financial risks that we should monitor in [industry]?”
“Can you provide examples of best practices for assessing and quantifying financial risks in [industry]?”
“How can we develop a robust framework for managing credit risk in [industry]and ensuring the creditworthiness of our customers or counterparties?”
“What strategies can we implement to mitigate market risks, such as interest rate risk, foreign exchange risk, or commodity price risk in [industry]?”
“What are the recommended approaches for managing liquidity risk and ensuring sufficient cash flow to meet our financial obligations in [industry]?”
“How can we improve our risk management practices to effectively address operational risks with financial implications in [industry]?”
“What are the key considerations for managing financial risks associated with investments and capital allocation in [industry]?”
“Can you provide insights on how we can strengthen our internal controls and risk management processes to prevent and detect financial fraud in [industry]?”
“What are the emerging trends and developments in financial risk management, and how can we adapt our practices to stay ahead in [industry]?”
“How can we integrate stress testing and scenario analysis into our financial risk management to assess our resilience to adverse events in [industry]?”
“Are there any specific regulatory requirements or compliance considerations that we should be aware of in managing financial risks in [industry] and [country]?”
“What tools or frameworks can we use to effectively monitor and report on our financial risks to stakeholders in [industry]?”
“Can you provide examples of successful risk mitigation strategies implemented by other organisations in [industry] to manage financial risks?”
“How can we enhance our risk culture and create awareness among employees regarding financial risks and their impact on the organisation in [industry]?”

21. Management of people risks

“What are the key people-related risks that organisations commonly face, and how can we effectively identify them in [industry]?”
“How can we improve our talent acquisition and retention strategies to mitigate the risk of losing key employees in [industry]?”
“What are the best practices for creating a positive and inclusive work culture that minimises employee turnover and fosters employee engagement in [industry]?”
“Can you provide insights on how to effectively identify and address skill gaps within our workforce in [industry] to mitigate performance and productivity risks?”
“How can we enhance our employee training and development programs to mitigate the risk of skills obsolescence and ensure continuous learning in [industry]?”
“What strategies can we implement to prevent and address workplace harassment and discrimination in [industry], thereby minimising legal and reputational risks?”
“What are some effective methods for measuring employee satisfaction and engagement, and how can we leverage this information to mitigate people-related risks in [industry]?”
“Can you provide guidance on how to effectively manage organisational change and mitigate potential resistance and productivity risks?”
“What are the key considerations for developing succession planning strategies to mitigate the risk of leadership gaps within our organisation?”
“How can we foster effective communication and collaboration among our teams to mitigate the risk of miscommunication and conflict?”
“What are the recommended approaches for managing employee health and safety risks to ensure a safe and healthy work environment in [industry]?”
“How can we establish effective performance management systems and processes to identify and address underperforming employees and mitigate associated risks in [industry]?”
“Can you provide examples of best practices in [industry]for promoting diversity and inclusion within the workplace to mitigate risks related to bias and discrimination?”
“What are the emerging trends and developments in employee well-being and work-life balance in [industry], and how can we adapt our practices to mitigate associated risks?”
“How can we improve our employee feedback and grievance mechanisms to ensure timely resolution of issues and mitigate the risk of employee dissatisfaction and turnover?”

22. Management of technology and ICT risks

“What are the key technology and ICT risks that organisations commonly face in [industry], and how can we effectively identify them within my organisation?”
“How can we assess and mitigate the risks associated with cybersecurity and data breaches in [industry]?”
“What are the best practices for managing risks related to technology infrastructure and ensuring its reliability and resilience in [industry]?”
“Can you provide insights on how to effectively identify and manage risks associated with third-party vendors and outsourcing technology services in [industry]?”
“How can we develop an effective IT governance framework to ensure proper oversight and management of technology-related risks in [industry]?”
“What are the recommended approaches for managing risks associated with cloud computing and data storage in [industry]?”
“Can you provide guidance on how to effectively manage risks related to software development, including managing vulnerabilities and ensuring code quality?”
“What are the key considerations for managing risks associated with emerging technologies such as artificial intelligence, Internet of Things (IoT), or blockchain in [industry]?”
“How can we establish effective incident response plans and disaster recovery processes to mitigate technology-related risks and minimise downtime?”
“What are the best practices for managing risks related to system and application integration?”
“Can you provide insights on how to effectively manage risks associated with technology obsolescence and the need for system upgrades?”
“How can we enhance our data privacy and compliance measures to mitigate the risks of non-compliance with data protection regulations in [industry] and [country]?”
“What are the recommended approaches for managing risks related to employee technology usage, such as unauthorised access or misuse of systems?”
“How can we improve our technology risk assessment processes to proactively identify and prioritise potential risks?”
“What are the emerging trends and developments in technology and ICT risk management in [industry], and how can we adapt our practices to stay ahead?”

23. Management of strategic risks

“What are the common strategic risks that organisations face in [industry], and how can we effectively identify them within our organisation?”
“How can we improve our strategic risk assessment processes to proactively identify and prioritise potential risks?”
“Can you provide insights on how to effectively manage risks associated with changes in the competitive landscape or industry disruption?”
“What are the best practices for managing risks related to market volatility and fluctuations in customer demand in [industry]?”
“How can we enhance our scenario planning and strategic forecasting to anticipate and mitigate potential risks in [industry]?”
“What strategies can we implement to mitigate risks associated with mergers and acquisitions, partnerships, or other strategic alliances in [industry]?”
“Can you provide guidance on how to effectively manage risks related to new product development or market entry in [industry]?”
“What are the key considerations for managing risks associated with changes in regulatory or legal environments in [industry] and [country]?”
“How can we improve our strategic decision-making processes to ensure risk awareness and consideration of potential consequences?”
“What are the recommended approaches for managing risks related to reputation and brand damage in [industry]?”
“Can you provide insights on how to effectively manage risks associated with technology advancements and digital transformation initiatives in [industry]?”
“How can we establish effective strategic monitoring and early warning systems to detect and address emerging risks in [industry]?”
“What are the best practices for managing risks related to talent acquisition, retention, and succession planning in [industry]?”
“How can we enhance our strategic communication and stakeholder engagement to manage risks associated with external perception and public opinion in [industry]?”
“What are the emerging trends and developments in strategic risk management in [industry], and how can we adapt our practices to stay ahead?”

24. Management of operational risks

“What are the common operational risks that organisations face in [industry], and how can we effectively identify them within our organisation?”
“How can we improve our operational risk assessment processes to proactively identify and prioritise potential risks in [industry]?”
“Can you provide insights on how to effectively manage risks associated with business process failures or disruptions in [industry]?”
“What are the best practices for managing risks related to supply chain and logistics, including supplier dependencies and transportation disruptions in [industry]?”
“How can we enhance our operational resilience to ensure business continuity in the face of unforeseen events or disasters?”
“What strategies can we implement to mitigate risks related to human error or employee misconduct in [industry]?”
“Can you provide guidance on how to effectively manage risks associated with technology failures or system outages?”
“What are the key considerations for managing risks related to regulatory compliance and ensuring adherence to industry standards in [industry] and [country]?”
“How can we improve our incident reporting and management processes to ensure timely identification, response, and resolution of operational risks?”
“What are the recommended approaches for managing risks associated with outsourcing or third-party relationships in [industry]?”
“Can you provide insights on how to effectively manage risks related to process automation or digitisation initiatives in [industry]?”
“How can we establish effective controls and monitoring mechanisms to mitigate operational risks and detect anomalies or deviations in [industry]?”
“What are the best practices for managing risks related to health and safety within the workplace in [industry]?”
“How can we enhance our business continuity planning and crisis management processes to effectively respond to and recover from operational disruptions in [industry]?”
“What are the emerging trends and developments in operational risk management in [industry], and how can we adapt our practices to stay ahead?”