In this episode of Risk Is Our Business, Michael Rasmussen charts a course with Klaus Jaeck and Daniel Cassel of Horváth to explore the next frontier in enterprise risk management, where resilience is just the baseline, and business confidence is the true objective.

Recorded at Corporate Risk Minds 2025 in Berlin, Klaus and Daniel offer a sharp perspective on how risk management is evolving across the region, moving beyond regulatory routines and static controls into dynamic systems that align risk with strategy, trust, and decision-making agility. They unpack why trust and resilience, while critical, aren’t enough on their own, and why organizations need something more to thrive in the vast unknowns of modern business.

They also take us deep into the heart of GRC transformation in Germany—what’s working, what’s lagging, and how digitalization, ESG, and a growing risk consciousness are reshaping expectations. The conversation explores how risk leaders can act less like tactical responders and more like bridge officers, guiding the ship, not just guarding the hull.

And yes, they have fun along the way. As Klaus and Daniel say, “no risk, no fun”, but with the right GRC model, it’s a mission worth taking.

In this episode of Risk Is Our Business, Michael Rasmussen beams into EY Germany to speak with Patrick Risch and Benjamin Lüders, two senior officers on the frontier of governance, risk, and compliance transformation. Together, they explore how to navigate the multidimensional challenges of orchestrating GRC across systems, silos, and starships, otherwise known as modern enterprises.

Their mission is to create a unified command structure where GRC isn't just a regulatory afterthought, but an enterprise-wide operating model aligned with strategy, resilience, and purpose. From aligning core processes to enabling agility with cutting-edge technology, Patrick and Benjamin map out how successful organizations are shifting from fragmented control systems to integrated, mission-ready frameworks.

They also introduce the concept of digital twins, not as a sci-fi abstraction, but as real-time simulations of organizational ecosystems that help leaders monitor, adapt, and course-correct with greater precision. It’s a new model of GRC that reflects the living, breathing dynamics of business.

Finally, they reflect on the unique risks and opportunities facing German companies as they transition from traditional governance models to more dynamic, tech-enabled approaches. It's a sector where regulations are strict, expectations high, and the path to transformation requires both cultural alignment and technological firepower.

If your enterprise is preparing for deep space exploration, or simply the next compliance cycle, this episode offers a navigational chart for GRC leaders ready to break free of orbit.

In this episode of Risk Is Our Business, Michael Rasmussen beams up Graeme Keith, mathematician, strategist, and CEO of Stochastic ApS, for a charged discussion on the fundamental divide between Risk Management 1 and Risk Management 2. Spoiler alert: most organizations are stuck in RM1, clinging to risk registers, risk appetite statements, and heatmaps that do little more than appease auditors. But as Graeme explains, like the Kobayashi Maru, those are unwinnable exercises that distract from supporting decisions with logic, evidence, and quantitative clarity.

Together, they dissect the common symptoms of bad risk management: using the wrong method in the wrong context, misunderstanding what “quantification” really means, and misapplying Monte Carlo simulations in a sea of poorly designed software tools. Graeme expands on his recent GRC Report article The Misery of Risk Matrices, pushing back on the false sense of security these subjective tools create. He argues that the real R in GRC should stand for risk-informed decision-making, not retroactive compliance filler.

The episode also unpacks why the growing push toward quantification often defaults to Monte Carlo analysis. Graeme offers a breakdown of where Monte Carlo simulations shine, where they fail, and what risk leaders should be asking when evaluating quantification tools and methodologies.

At warp core, this conversation is about upgrading risk from visual comfort to strategic relevance, from vague heatmaps to models that support action under uncertainty. If you’re ready to move beyond the checkbox galaxy and into the decision-making nebula, The Wrath of Math is required listening.