Connected Risk: Conquering the Perilous Risk Exposure Gap

Richard Chambers AuditBoard

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Richard Chambers is the CEO of Richard F. Chambers & Associates, a global advisory firm for internal audit professionals, and also serves as Senior Advisor, Risk and Audit at AuditBoard. Previously, he served for over a decade as the President and CEO of The Institute of Internal Auditors (IIA), where he led the organization to record global membership and countless milestones. Prior to The IIA, Chambers was national practice leader in Internal Audit Advisory Services at PwC and vice president of The IIA’s Learning Center.

Description

The IIA’s 2020 “Three Lines Model” was a substantial improvement over the “Three Lines of Defense.” However, the convergence of risk velocity and volatility in the 2020s has contributed to a perilous risk exposure gap for many organizations — fueled by a tsunami of new and emerging risks and stagnant to declining risk, audit, and compliance resources. This session will explore the risk exposure gap phenomenon and essential migration from a “three lines” approach for risk management to a “connected risk approach.” The session will examine the power of connected risk synergy, the attributes of connected risk thinkers, and the imperative to leverage technology as the connected risk enabler. Finally, the session will highlight the future of connected risk change agents in the era of AI.

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