Raising awareness about Enterprise Risk Management and providing information to initiate or update plans to recognize and anticipate risks, and minimize negative impact, are among the goals of the WLA Security and Risk Management Committee (SRMC).
The SRMC Task Force 2 for Risk Management, has updated the Risk Register, detailing lottery sector specific risks, and the Risk Profiles which describe key risks and ways to mitigation them. These tools are designed to assist members to protect their operations by better understanding potential risks and taking steps to address them.
Some updates to the Risk Register cover cloud computing, artificial intelligence and cybersecurity, drawing on emerging trends and global risk reports. Categories added to the Risk Profiles include cybersecurity, artificial intelligence, illegal gaming, talent, licences and contracts, and disaster risks.
Each Profile describes a risk, details the risk driver, and offers mitigation strategies, and is rated using an assessment of the likelihood of the risk occurring and the consequence of its impact.
All updates can be found on the WLA website here. (member sign-in required)
Members are welcome to provide feedback on our risk management resources, as well as suggestions for any additional services or support at: security@world-lotteries.org
New risk management survey launched
The SRMC launched its third risk management survey to lottery members this week. The survey aims to gather member input that will allow the Committee to determine the key risks faced by members, to gauge risk management maturity levels within our industry, and to understand how to best assist members in developing and enhancing their risk management strategies and practices. Survey results will be available to members by the beginning of September.
