Fusion Risk Management Has Been Named a Leader in the Forrester Wave™: Business Continuity Management Software Report
Human-Led and Technology-Powered: Accelerating Your North Star of Resilience
Posted on: August 5, 2021 Author:
Tracey Forbes Rice, MBCI (Honorary)
Solutions Customer Summit Series
I had the pleasure of moderating our customer panel at Solutions21 this summer, which included Delroy A. Ross, Ashley Goosman, Renuka Darbha, and Joseph Woulfe. Each shared insights on how leading global firms are building human-led and technology-powered resiliency that drives agility in disruption and accelerates business transformation. The discussion highlighted how central management of their programs can extend resilience to include all of their stakeholders, as well as tips and tricks they have learned throughout their careers.
“One of the key learnings I have had from building programs from multiple companies is ‘do not boil the ocean.’ You have to start small and have a vision of where you want the program to really get to and where you really feel like you can get the best value for your company.”
“Hundreds of pages of a plan are no good to us at all. To use one of our favorite sayings at Fusion: ‘data over documents.’ We have to have the data at our fingertips that we can use to help sense situations, help sense impacts, and help predict the important decisions that we have to then make, given any type of scenario or in response to any type of event.”
Panelists also discussed the successes they’ve had and where they are headed.
“We are looking at personas. The concept for us means not so much a particular role in the organization, but their role within the program. So, we expect in the future there will be personas for an executive, a function leader, our technology team, our supplier/vendor risk management teams, etc. And, we will be able to provide that data from the system in a dashboard view where they can get the high-level information they need and dig in to get that crisis decision making, point-in-time data that’s needed. We really want to move to that real-time data gold standard. That’s really going to help our program moving forward, and Fusion, we know, is going to be a great partner in that.”
“Tying it in with more of the operational risk side of it gives me more of the day-to-day type of problems that happen. Now, if you look along that curve, you have the things that happen every day that are minor in nature to these big wide-scale events. Pulling that together based on these different criteria, you’re able to see this landscape differently. Once you are able to paint that picture, people start to want it, they want to see what’s going on.”
“By being able to provide breadcrumbs and small pieces of the puzzle across the firm, I was able to collapse this, where it becomes a central repository of data that people can slice and dice the way they needed. They can execute on it when they need to, and we are able to pump out incident plans or certain pieces of documentation if we need it from a regulatory perspective.”
The panel leveraged lessons learned from the past year to better their organization’s programs – whether it was expanding further into risk and operational resilience or promoting more scalable and agile processes.
“‘Be able to pivot – change is immanent.’ That’s something I’ve learned personally with the stuff that was going on in 2020.”
A common theme throughout was the importance of relationships.
“As I said during the session, it’s all about people – it’s all about how we interact, how effectively we communicate, and how we build relationships.”
“Each of us as practitioners, leaders, and champions in this industry, we must do our part to build a program that builds our organizations and brings them to the next level. It’s not something we can easily do ourselves – we require community.”
“We have to teach ourselves patience being in leadership roles – don’t be aggressive with timing, check your ego at the door, and get to know each other.”
The session provided a great discussion around leadership, growth, and community. We are seeing many companies leverage insights from the past year to better their organizations and strengthen relationships. While we can’t predict everything, we can certainly leverage data to be prepared for what’s to come and build each other up to promote a stronger, more resilient community.
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