Strategy Meets Reality Podcast

Reimagining Risk with Stefan Gershater: How to Make Risk an Enabler, Not a Hindrance

May 6, 2025
Stefan Gershater, Head of Risk and Governance at Co-op, transforms the perception of risk from a burden to a strategic asset. He discusses how aligning risk with organizational goals can enhance decision-making and resilience. The conversation critiques traditional risk management methods, advocating for innovative approaches that empower self-organizing teams. Gershater emphasizes the need for leaders to adapt their mental models to navigate uncertainties effectively, showing how embracing risk can drive growth and agility in any organization.
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INSIGHT

Risk Orthodoxy's Ancient Roots

  • The orthodoxy of risk management is rooted in 10,000 years of accounting traditions focused on preventing financial misstatements.
  • Modern risk should be understood as managing uncertainty against strategic objectives, not just compliance with financial rules.
ADVICE

Set Expectations and Systematize Risk

  • Set realistic expectations that risk management doesn't eliminate uncertainty or mistakes but improves outcomes over time.
  • Treat risk as a system connected to objectives and strategy, not just as isolated risks or checklists.
ADVICE

Contextualize Risk for Leaders

  • Engage leaders by connecting risk discussions to their strategic objectives and performance incentives.
  • Use language of business value rather than technical risk terms to foster collaboration and trust.
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