Storytelling has been around for thousands of years but can it be used to enhance the risk culture of an organisation?
The concept of risk culture has been around for a long time but has been increasingly in the spotlight.
APRA defines risk culture as “the behavioural norms and practices of individuals and groups that shape an entity’s ability to identify, understand, openly discuss, escalate and act on its current and emerging risks.”[1]
The topic comes up regularly in industry and profession forums and in my conversations with directors and other professionals, risk culture is undeniably a fundamental pillar of risk management, and intrinsically linked to the overall culture of an organisation.
As a Chief Risk Officer, I have been exploring storytelling as a tool to enhance risk culture and recently presented this idea at the 2024 All-Actuaries Summit.
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