The Power of Storytelling in Risk Management

Tara Dwyer
Community Banking Brief
LIVE WEBINAR
The Power of
Storytelling in
Risk Management
featuring Dr. Karen Hardy, CEO and Chief Risk
Officer of Strategic Leadership Advisors LLC
July 14th, 2023
9:30am PDT, 12:30pm EDT
moderated by

Quantivate provides web-based governance, risk, and
compliance (GRC) technology and services to organizations
nationwide.
Founded in 2005 with the release of its Business Continuity
Software, the company has grown to feature a full suite of GRC
management solutions, including Vendor Management,
Enterprise Risk Management, IT Risk Management, Internal
Audit, Compliance Management, Complaint Management, Policy
& Document Management, and Issue Management.
LEARN MORE:
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Dr. Karen Hardy
CEO and Chief Risk Officer of
Strategic Leadership Advisors LLC
featuring
The Power of
Storytelling in
Risk Management

Today’s
Objective
Provide a High-level overview
• Demonstrate how storytelling can help influence decision-making
through a risk management lens
• Discover what skills are in demand tor technical experts in the current
business environment
• Ways to build storytelling skills for business decision-making
Copyright 2023 Strategic Leadership Advisors LLC

“ONCE UPON A TIME….”

Characteristics
of a Good
Story
A story needs
• conflict and resolution
• tension and release
• mystery and revelation
There should be losses and gains and impacts
• setbacks and comebacks, peaks and valleys
• And, above all, a story should be about people (their
dreams and desires; loves and hates; problems and
passions)

We live in a VUCA World
• Volatile
• Uncertain
• Complex
• Ambiguous
The World Has Changed as Have
The Uses for Storytelling

• Economic risks
• Environmental risks
• Geopolitical risks
• Societal risks
• Technological risks

World Competitiveness

Organizations
Manage These
Risks Through A
Framework

Communicate and
Report on Risks

Organizations Are Stuck Due
To Poor Risk Communication
“Majority of organizations
describe their risk culture as
STRONGLY RISK AVERSE to
RISK AVERSE”
This Photo by Unknown Author is licensed under CC BY-NC
Source: NCSU ERM Oversight Report 2022

Leading in a Complex World
“When it comes to strategy it should be
driven from the top. It lives and dies with
managers in the middle—but they are
hamstrung by the poor communication
from above”
Harvard Business Review, 2015
This Photo by Unknown Author is licensed under CC BY-NC

Interpretation of a Complex
World
WE ARE ALL RISK MANAGERS.
We manage risk to help protect what
organizations value the most.
Our goal then is to persuade leadership in
taking actions.
This is not easily achieved in organizations
because leaders and organizations:
Have cultural challenges.
Have entrenched ways.

Using Data Assets To
Inform Storytelling
• How much data is available?
• Data alone is not enough
• Risk information is a data
asset

How Much Data is Available?

Data Literacy
and
Framework

Neuroscience (Logic + Emotions) Linkages
Are Our Decisions Based on Logic or Emotion?

CASE STUDY:
Risk Informed
Action Through
Storytelling for
Veterans
Veterans Non-Profit
• 1,068 Dogs rescued
• 564 Warriors rescued
• Warriors suffer from post traumatic brain injury (Risk)
https://beambitious.clickfunnels.com/optin20981001
“A New Leash On Life: The K9s for Warriors Story” Emmy Award Documentary

Building Your Storytelling Journey
• Data Assessment – what data do you have available to you
• Data interpretation- Align data interpretation – what does it mean, what can it mean- what are the impacts of the data
• Tell the story- hinge on emotional aspects of data
• Envision what behavior you want them to achieve (i.e. Veterans’ funding)
• Start small- practice storytelling in writing, presentations
This Photo by Unknown Author is licensed under CC BY

SUMMARY
This Photo by Unknown Author is licensed under CC BY

Q&A
Get the Complimentary Document
http://setyourstrategy.com/free-offer
Password: give23 (case sensitive)
Dr. Karen Hardy
CEO and Chief Risk Officer of
Strategic Leadership Advisors LLC
Tara Dwyer
Webinar Coordinator
Community Banking Brief
/in/dwyertara
communitybankingbrief.com
/in/drkarenhardyspeaks/
setyourstrategy.com/

The Power of Storytelling in Risk Management

The Power of Storytelling in Risk Management

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