A decade of disasters from Hurricane Katrina to the 2008 financial crisis to Superstorm Sandy, coupled with the onset of cyber risk, has perceptibly altered the way some risk managers approach risk.
Whereas many sought to squelch risk at its source, this view has gradually given way to a more nuanced view that — because risk cannot entirely be avoided — a risk manager’s primary efforts should entail building an enterprise robust enough to withstand risks when they do occur.
Stephen E. Flynn, Boston-based professor of political science and director of the Center for Re-silience Studies at Northeastern University, said a process-based, rather threat-centric approach works best in prudent risk management.

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