Risk in Context Podcast: Scenario Planning Best Practices

With businesses facing a number of critical, complex, and interconnected risks, it’s vital that risk professionals and others understand their potential effects on their organisations, and plan for the unexpected.

This episode of Marsh’s Risk in Context podcast features Allison Pan, a senior vice president in Marsh Advisory’s Emerging Risks Group, and Ricky Armwood, a senior manager at Deloitte Consulting, who discuss how scenario planning works and how it can benefit organisations.

Key Takeaways:

    The aim of scenario planning is not to prevent bad things from happening, but rather to help organisations more effectively plan for and respond to them.

    Scenario planning exercises can yield valuable insights that can be applied even in situations that organisations and people do not specifically plan for.

    Including diverse perspectives can help organisations identify unique scenarios to consider.

About our Speakers

Allison Pan is a senior vice president in the Emerging Risks Group in Marsh Advisory. She is responsible for helping clients understand their strategic risks, especially in nascent and complex peril classes such as cyber, climate, violent threats, and supply and value chains. Allie specialises in the ways in which peril classes converge or are interdependent.

Ricky Armwood is a senior manager at Deloitte Consulting who focuses on analytic and cognitive capabilities and leads Deloitte’s research of next-generation technologies and business models for government and public services. He leads capability development for the defense, security, and justice sector’s future investments and is a published thought leader on the future of drone technology, biometrics, blockchain, and AI-enabled capabilities.

Current responsibilities

As a senior vice president in the Emerging Risks Group, Allie is responsible for helping clients understand their strategic risks, especially in nascent and complex peril classes such as cyber, climate, violent threats, and supply and value chains. Allie specializes in the ways in which peril classes converge or are interdependent. This enables her clients to assess their risks in gray areas that are difficult to capture in traditional risk analysis.

Experience

Prior to joining Marsh, Allie served as a vice president within JLT’s Emerging Risks Group.  Previously, Allie was a strategy and operations consultant at Deloitte Consulting, specializing in helping federal agency and private sector clients with supply chain strategy, supply chain risk triage and optimization, and digital supply chain transformation. Prior to Deloitte, Allie served as an active duty intelligence officer in the US Army.  As a senior intelligence analyst for Army Headquarters, she advised senior Army leaders, including the Secretary of the Army and the Chief of Staff of the Army, on emerging global crises.  Allie is a sought-after speaker and respected author of scholarly articles on critical and emerging strategic risks.

Education

  • Bachelor of science degree from the United States Military Academy
  • Master of Arts from University of Hawaii (East-West Fellow)

Our Speakers

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Allison Pan

Senior Engagement Lead - Risk Consulting

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Ricky Armwood

Senior Manager at Deloitte Consulting