Major League Baseball’s (MLB) Opening Day is finally here—but due to COVID-19, the games now come to us from empty stadiums devoid of cheering fans looking forward to a summer of packed ballgames. The global pandemic has radically changed the world, forcing people and organizations (such as the MLB) to shift operations and adapt to the “new normal.” Just as the MLB has seen major alterations and hurdles in the past year, so too has enterprise risk management (ERM), and both must evolve to adapt to the current climate.
We recently sat down with Western Bankers Association to discuss emerging risk trends either delayed or spurred by the pandemic, and to forecast where risk management programs and competencies will trend over the next three to five years. In this latest podcast, “ERM & Baseball: Why We Miss Them Both,” WolfPAC Director Mike Cohn explores the trends developing in cyber risks, vendor management, and business continuity planning, creatively connecting these areas back to baseball to help listeners draw comparisons. Mike also dives into the Paycheck Protection Program (PPP), and how banks and fintech companies were able to work together to secure millions of loans during this unprecedented pandemic.