UNAIR NEWS 鈥� A shift in the perspective of risk became one of the main topics of the discussion in the Free Executive Webinar 鈥淪trategic Risk Management: Strengthening Governance, Resilience, and Business Performance鈥� which conducted by Airlangga Executive Education Center (AEEC) on Friday, September 11, 2026. This webinar featured Dr Waluyo QRCO QRGP CGRCOP and Dr Frizkana Meilia SE SH MA CGAA CMA CESA CSSL QRMP CIAP.
In this forum, risk management was not merely discussed as a compliance instrument, but as a part of an organization’s strategy. The information about risk should be used to help the executive board to set priority, allocate resources, and evaluate performance achievement.
From compliance to value creation
One of the main topics of the discussion is the three paradigm shifts in risk management. First, the shift from compliance to value creation. Risk is managed proactively to optimize returns and opportunities, rather than merely to minimize losses.
鈥淩isk should not be viewed solely as something to be avoided. Risk management should help the organization to see opportunity and create value,鈥� said Dr Waluyo in the webinar.
The second shift is from a siloed approach to an integrated one. Risk management must be embedded throughout the entire management cycle and business process chain. Meanwhile, the third shift moves from controls toward culture and mindset, so that its effectiveness is not merely relied on the policy document.
Understanding the risk management framework
The webinar also compared COSO ERM 2017 and ISO 31000:2018. COSO ERM focuses on the risk integration with corporate strategy and performance, meanwhile the ISO 31000 provides a general manual with a flexible process for various organizations.
鈥淩isk management framework must be understood based on the organization鈥檚 needs. The most important one is how the framework can be applied and give useful information for decision making,鈥� said Dr Meilia in the webinar.
Strategic risks
The discussion also highlighted that strategic risks can not be adequately identified simply by compiling a list of operational risks using a bottom-up approach. Strategic risks must be derived from strategic objectives using a top-down approach and translated into critical assumptions that could potentially fail.
鈥淭op management, as the owner of the strategy, need to be directly involved in the strategic risks management,鈥� said Dr Waluyo in the webinar.
This approach ensures that risk management is not merely an administrative document, but becomes a part of the organization鈥檚 decision making process.
Author: Naswa Thalita Zada
Editor: Yulia Rohmawati
