8CIOReview | | JULY 2023IN MY OPINIONThe increasing dependence of companies on digital systems and data, risk management has become a crucial activity for the protection of assets and the continuity of business. However, many organizations still do not have a holistic and integrated approach to managing risks related to digital and technological transformation. A customer-centric approach can help organizations identify potential risks and develop preventive measures.Customer expectation and satisfaction are important factors that must be considered in risk management. Customer centricity can help companies have greater awareness of risks related to these factors. This can lead to a more accurate identification of emerging risks and a faster and more efficient response. Risk management teams can use communication and collaboration platforms to share information and insights in real-time, which can lead to more informed and quicker decision-making.Moreover, technology can allow for a more detailed analysis of risk data. Artificial intelligence and real-time data analytics can help companies identify threats in real-time and react quickly, minimizing the potential impact of any incident. Risk management teams can work closely with other areas of the organization, such as information technology teams, to ensure that systems and processes are secure and protected against possible threats.Risk management should not only be reactive but also proactive. This means that organizations should anticipate possible threats and work to mitigate these risks before By Erik Arrais Vieira, Head of Risk Management, Banco BradescoMODERN RISK MANAGEMENT: LEVERAGING MACHINE LEARNING AND DIGITAL TRANSFORMATIONErik Arrais Vieirathey occur. This can include adopting cybersecurity practices, using operational modeling to identify emerging risks, developing responses to identified risks, and implementing contingency plans for crisis situations.However, leveraging risk management must be accompanied by a shift in mindset in organizational culture. Organizations must promote a culture of risk management at all levels, encouraging awareness and responsibility from all employees. Risk management should be seen as a continuous and integrated activity in all areas of the organization. Thus, it becomes the main path to face the challenges of digital and
< Page 7 | Page 9 >