We live in a time when we are awash with information. The internet, our Twitter feeds, our email,
our Facebook, our Linked-In feeds etc. etc. bombard us with a non-stop
information torrent. So much so that we
intentionally ignore so much of our information flow that we actually might be
receiving less information than we did in the pre-internet / pre-social media
era. Additionally so much of the
information we receive is incomplete, biased, misleading, half-baked or simply
wrong. Many media pundits argue that the
new role of respected media is not news reporting but news curation – sorting
the wheat from the chaff and presenting the stream of information in the most
useful manner possible.
In today’s business environment, the manager is also awash in an
information torrent. In certain
industries such as financial services, a lot of the flow is risk based. Without proper curation the manager is at
risk for actually being less informed about the relevant risks of their unit
than they were thirty years ago when such information was much rarer and much
harder to sort. Thus a key role of the
risk department is to act as the curator of risk information.
Risk information is key to good risk management,
but it is the right information at the right time that is necessary.
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