In the dynamic world of business, organizations are constantly exposed to myriad threats and risks. To tackle these challenges, companies traditionally deploy different risk management disciplines tailored to address specific facets of risk. These disciplines include Operational Risk Management (ORM), Information Technology Risk Management (ITRM), Enterprise Risk Management (ERM), and Governance, Risk and Compliance (GRC). GRC is most often the outlier among these risk management disciplines due to its legacy nature as a standalone function. While this was accepted in the past, it is a significant barrier to more effective ways of managing risk.

In today's increasingly complex and interconnected digital business environment, managing risks effectively is paramount. Integrated Risk Management (IRM) has emerged as a strategic approach to this challenge, founded on three critical pillars—framework, metrics, and technology.

Managing risk is an integral part of success in any business. The ever-increasing complexity of global markets and unprecedented speed of technological changes necessitates a robust risk management strategy. Over the years, I have come to realize that the cornerstone of an effective integrated risk management (IRM) approach rests on three critical factors, which I like to call the 3 C's: Collaboration, Context, and Communication.