In my last post, I mentioned how my career focus has shifted towards joining the dots between revenue assurance, fraud management and other risk silos, in order to devise a genuinely holistic approach to managing risk in communications providers. Phew. That was quite a wordy sentence even for a consultant like me. But that is what you get before standards are set and conventions become normalized – a lot of words and most of them debatable. Whilst words can evade our grasp and befuddle our intellects, risks are real and threaten our businesses every moment. There is no more time to waste – we have to get together, work together, and get our act together in order to explain why and how telcos manage risks better than other industries that thought they were great at managing risk but turned out to be horribly wrong.
Right now I am recruiting, looking for like-minded people to join the TM Forum’s Enterprise Risk Management (ERM) group and contribute to the development of common standards that link generic ERM practices to the specific challenges faced in electronic communications. When we have enough participants, we can move from words into action – and start setting the agenda for what ERM looks like in our businesses. In the meantime, here are some more words… in the form of a presentation I recently gave that explains why Qtel Group is putting RA and Fraud Management into the context of ERM. It highlights the factors that are driving this change and why RA and Fraud Managers need to take a lead with establishing a comprehensive business strategy for managing all kinds of risk. The presentation is also available from talkRA’s downloads page.
I am ready to associate with your team for development of ERM for Telco. This will be gr8 move for us.