Overview

This session will seek to ensure that delegates appreciate the necessity of the very real and increasing need to ensure that traditional risk management migrates more speedily into ‘real world’ risk management wherein the true nature, extent and impact of risk is properly determined, assessed and proactively responded to. In order to place real world risk management into an appropriate context, delegates will be taken through two threat vectors, procurement fraud and forced labour (modern slavery), respectively, and shown how inherent risks within the supply chain can be more successfully identified and mitigated.

This session will address the following issues:

  • Nature of ‘real world’ risk management with its focus on understanding the broader threat environment within which corporations operate which
  • Necessitates a retreat from adherence to the notion of ‘risk appetite’ and a reduced reliance upon the ‘Three Lines of Defence’ mode or risk engagement
  • Requires the use of lateral rather than vertical thinking I order to determine the nature, interconnection and impact of geo-political, economic, technological, environmental and societal risks upon the current or prospective corporate engagement within the provision of goods and/or services in new jurisdictions and/or with new suppliers
  • Demands an appreciation of the evolving impact of transnational organised crime groups and networks as drivers of the aforementioned risks, not least of all in terms of their responsibility in creating, driving or exacerbating the economic crime experienced directly or indirectly by corporations.

Delegates will leave the session with an appreciation of the threats posed by economic crime (broadly defined), with an understanding of the of the importance of placing the notion of risk and risk management into a national, regional and global context in order to effectively challenge the notion of fixed threat vectors within an ever-evolving risk environment and to be equipped, using procurement fraud and forced labour as exemplars, for tackling corporate risk vectors in a proactive rather than reactive manner.

This event was recorded on 18 June 2024

Speaker

Rob McCusker

Professor Rob McCusker is a transnational crime consultant providing strategic and policy advice to international governments and organisations in countries ranging from Cameroon, Jamaica and Somalia to Denmark, Afghanistan and Singapore, on cross-border crime, corruption, corporate governance, international security and anti-money laundering and counter-terrorist financing. Rob is a retained expert for Interpol (on ‘innovation and foresight’ in relation to future organised crime), a retained expert for the Economic Crime and Cooperation Division, Council of Europe (on ‘anti-corruption and good governance’, ‘anti-money laundering’, ‘combating organized crime’ and ‘combating terrorism and its funding’) and has been a designated expert for the UN Congress on Crime Prevention and Criminal Justice since 2005 (on ‘economic crime, including money laundering’).