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Inside Internal Controls

News and discussion on implementing risk management

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risk culture

A board that would fail any test of its governance practices

I am planning a meeting with the CRO from a company during which I had planned to share some of the principles of effective risk management, based on what is considered world-class, and the governance of risk management by the board.

 

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Key principles of successful risk management

Somehow, we need to move the practice away from a periodic review of a list of risks (which Jim refers to as enterprise list management) and to increasing the likelihood and extent of success.

 

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Is asking about risk culture the right question?

If you don’t have a consistent attitude towards taking risk among the few members of the executive team, how can you expect to have a consistent attitude among the population of employees and decision-makers?

 

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