Risk Insights
September 9, 2021

Five Things You Should Know About Managing Global Risk

Imagine an authoritative global index for risk: a one-stop source for understanding a country’s risk across a range of categories--in an instant.  It would be an exceptionally powerful tool for growing companies and decision-makers.  In fact - it’s a reality, made possible by the experts at RANE, one of the most innovative companies in the security and risk business.  

“RANE is a platform for collaboration where information can be shared  and people can connect with each other. Because corporations are being called upon to manage risks that they were never invented to manage.”  - DAVID LAWRENCE, RANE FOUNDER

In just a few years, RANE has built a thriving network and multi-level service, acquired and incorporated established intelligence and analytical companies such as Stratfor and has become a go-to source for 1.5M members in a network of more than 400 leading corporations, government agencies, and academic institutions.  Its proprietary Global Composite Risk Index is the gold standard for dynamic global analysis of risks no matter where you are... or want to be.  

RANE’s Global Composite Risk Index offers insight into individual country risk across a full spectrum of categories. We curate and analyze information from a wide array of sources to equip risk professionals with the data, knowledge, and add insight essential for efficiently evaluating risk within and across different geographies as well as documenting defensible standards of care. Along with this toolkit, RANE provides relevant, real-time intelligence from a global network of pre-screened risk experts, service providers, law enforcement, and regulatory bodies. Members can tap into this credentialed community to help address and mitigate identified risks.

5 THINGS YOU SHOULD KNOW ABOUT MANAGING GLOBAL RISK  

1. You Can’t Manage Risk If You Can’t Measure It


A good corporate risk program works from three inflection points: the prevention, response, and remediation of any risk.

David Lawrence describes it this way: “What we realized was that country by country and actually industry by industry, as firms were thinking about either doing business in a particular place, deploying people, deploying capital, advising potential parties, as they thought about their supply chain, where they do business, the different people who might be advising them in particular countries, they may relying on incomplete information when making their decisions.”

So RANE created a usable index organized around categories: the principal issues that enterprises, communities, corporate agencies, not-for-profits or individuals are trying to manage or should be trying to manage or think about.

We knew that government agencies and groups such as the World Bank and the World Economic Forum, law enforcement agencies, NGOs and not-for-profits, think tanks, leading academic institutions, advisory firms, law firms or consulting firms around the world were pulling together important data. But it was all built for different audiences and with different levels of access. Sometimes the information just wasn't easy to find or read.  

RANE’s Global Composite Risk Index team pulled data from the open sources, simplified it and organized it into one simple-to-use composite index,“so that if you are doing business or have supply chains or are investing capital or placing people for a wide variety of purposes, you can have accurate and updated information.”

Users can understand what the issues are on an absolute basis and compare them to other countries and regions, from topics such as physical security, personal safety, cybersecurity, etc. to the broad issues of fraud and corruption, illicit finance and terrorism financing. We overlay  information about which countries or regions are dealing with important fundamental issues, perhaps human rights and the protection of journalistic freedoms, but also geopolitical risks, financial stability, rule of law. We also included climate change and ESG principles, and even the medical and psychological infrastructure data of what it means to be in a particular country or to be investing in a country.

2. Categories of Risk Are Often Overlapping  


Issues don't exist in isolation. Fraud and corruption does not exist independently from issues around the rule of law and due process or issues of human rights or issues of protection of journalistic freedoms or separate and apart from financial crimes or issues of cyber security or cyber warfare.

The RANE Global Composite Risk Index offers a composite view of risk categories. The format makes it possible for organizations and people to think through the issues that they need to understand, and also provides a very simplified and agile platform that will allow them to play with this information and the data, add data sets, remove them, recalibrate, look at different categories of risk, etc.

The Risk dashboard doesn’t just make available information of what has happened, our dashboard shows you what the road ahead looks like, and identifies issues that are trending. “So we very much undertook this as a bit of social impact, public service efforts,” says Lawrence.

We’ve shared this with a variety of people with deep experience on the regulatory side, government side, and within the private sector. The response has been overwhelmingly positive. The organizations that we've shared this include those whose data we've incorporated. They were excited to see how their information has been incorporated into a utilitarian data collaboration.

3. Organizations must Constantly Review and Update their Risk profiles


Organizations using the Global Composite Risk Index can pull data as they maintain their corporate security programs. HR professionals can use it to help educate and train their people. CSO’s can stay on top of issues with the dashboard, CEO’s can maintain critical risk assessments for their supply chains by focusing on the data of all the places they're doing business and understanding where and what the risks are both on an absolute basis and a relative basis.

Businesses also have to be able to be in a position to document their standards of care. And with the data RANE has organized (and continues to update), they can identify very clearly what the issues are around the world, address them or avoid them.

4. Information Can Drive Innovation


        RANE’s Global Composite Risk Index provides users with improved situational awareness on emerging threats so you can proactively manage and mitigate potential issues. It provides more efficient access to information and expertise, that saves users time and money associated with your overall risk management efforts. And it creates better risk management outcomes, enabling risk mitigation to be a sustainable point of differentiation for your organization.


4. You Can Only Get The Global Composite Risk Index From RANE


    Our support frees up funding, time and human resources to work on creative solutions unique to your business.
RANE is a platform for collaboration where information can be shared and people can connect with each other. RANE’s community-based solutions help address a range of enterprise risks covering Safety and Security, Cyber and Information, Geopolitical, and Legal, Regulatory and Compliance.

RANE offers actionable intelligence to build better situational awareness, with community insights and benchmarking, proprietary risk research and analysis, risk briefs curated by trained analysts, and expert-led briefing sessions and events.

RANE provides tools such as the Risk Monitor to efficiently screen and analyze emerging risks or issues, along with support to help respond, manage, and mitigate risk. RANE delivers custom risk monitoring, risk assessments, training, and advisory services. Because corporations are being called upon to manage risks that they were never invented to manage.

When you have questions about global risk, RANE is the answer. And RANE’s Global Risk Composite Index, powered by a network of seasoned analysts and in-field experts can give you the advantage you’re looking for.

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