Risk assessment and prevention is right in the finance chief’s wheelhouse. Here’s how to make sure you’re avoiding unexpected costs and damage in a volatile world. From political and social unrest that results in deadly combat to a climate crisis that delivers increasingly punishing weather events, the world is becoming less predictable. Ever-changing scenarios are pure anathema to CFOs, as these individuals are required to plan for the future. And planning for the unknown can be a tricky, and often daunting, task. Careful investments in security spending, however, can help navigate a path forward and avoid pitfalls that could torpedo a company’s trajectory. When a chief financial officer hears the word “security,” their gut response might be: “That’s the security chief’s job.” And while most organizations do have security departments, it does not mean the CFO should remain in a silo. In fact, CFOs should be a key influence in this space.
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