by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
Going through airport security has certainly changed air travel. It appears to be almost harder to successfully pass through airport security with evil intent than it is to rob from Fort Knox. The appearance (or at least as far as the various governmental agencies would like us to believe) is that airports are the safest places in the world, and the place where one is least likely to encounter a terrorist. But is that the reality?
Likewise in your organization you undoubtedly have risk management practices in place that seem to safeguard the organization against specific instances of harm or ill-effects. But is that the reality?
Furthermore who determines the level (and depth) of the reality? The person who built the system? Do you think they might have a bias? Do you think if they had a blind spot in building the system that they might also have a blind spot in assessing it?
So again – is your risk management built for appearance, or is it built for reality?
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