Riskinseurantaa

Riskinseurantaa, a Finnish term, translates to risk monitoring or risk surveillance. It is a continuous process employed by organizations to identify, assess, and track potential risks that could impact their objectives. This practice is fundamental to effective risk management, enabling proactive decision-making and mitigation strategies.

The core of risk monitoring involves establishing a system for regularly reviewing identified risks and assessing any changes in their likelihood or potential impact. This can include monitoring key risk indicators (KRIs), which are measurable metrics that provide early warnings of escalating risks. It also involves staying abreast of internal and external factors that might introduce new risks or alter existing ones, such as changes in regulations, market conditions, or technological advancements.

Effective risk monitoring requires clear communication channels within an organization. This ensures that relevant information about risks is shared across departments and with senior management. The findings from risk monitoring activities should inform the ongoing refinement of risk management strategies, ensuring that they remain relevant and effective in a dynamic environment. Ultimately, risk monitoring aims to minimize negative surprises and enhance the organization's resilience and ability to achieve its strategic goals.