Deloitte Research: Deloitte Releases Whitepaper – ‘Risk Intelligence in a Downturn’

Last week, CCI featured author and Deloitte Consulting principal Mike Fuchs discussed some best practices in risk management and corporate governance in his featured article on Risk Intelligence. The article was a preview of the newest Deloitte whitepaper on the subject of enterprise risk management.

Deloitte recently released its newest whitepaper, the 14th whitepaper in its ongoing series on Risk Intelligence. This most recent Deloitte whitepaper is titled Risk Intelligence in a Downturn: Balancing risk and reward in volatile times and is available to all CCI readers for download below.

Part One of the new Deloitte whitepaper on Risk Intelligence deals with maintaining the right balance between risk and reward and offers strategies to help companies maintain an effective risk balance in the face of today’s economic challenges. Among the suggestions offered in Part One:

• Align business goals with risk management objectives.
• Understand that not all risk is bad, but that there is a fine line “between being willing to take risks and being reckless.”
• Stay vigilant in regards to who is holding your company, and what their potential agenda could be, to reduce the possibility of your company being “on the receiving end of someone else’s rewarded risk-taking.”
• Risk Intelligent leaders must effectively manage public perception.
• Risk management offers cost-reduction opportunities that can improve overall risk management effectiveness.
• Be aware of the challenges to maintaining risk management processes during a headcount reductions.
• Fight fraud at the source.
• Build tax considerations into the decision-making process.

Part Two of the new Deloitte whitepaper on Risk Intelligence takes a look at how understanding the factors that contributed to the current economic downturn can “point the way toward better risk management in the future.” Among Deloitte’s “top candidates for the downturn’s top risk management lessons learned” are:

• Improbable events sometimes happen, and the likelihood of strategic risk events occurring is often “unknowable”.
• Watch out for hidden correlations of risk.
• Plan effectively, but also stress test your company’s ability to execute contingency plans before execution becomes necessary.

The new Deloitte whitepaper on Risk Intelligence concludes with nine fundamental principles of a Risk Intelligence program.

To download and read a PDF version of the new Deloitte whitepaper, Risk Intelligence in a Downturn: Balancing risk and reward in volatile times, click on the following link:

Click to read new Deloitte Risk Intelligence whitepaper (.pdf)

Some of the previous Deloitte research whitepapers from the Deloitte Risk Intelligence series are listed below. Follow the links included to access the whitepapers from Deloitte’s website.

• Deloitte research whitepaper: Managing the Business Risk of Fraud – A Practical Guide
• Deloitte research whitepaper: Risk Management in the Age of Structured Products
• Deloitte research whitepaper: Putting Risk in the Comfort Zone – Nine Principles for Building the Risk Intelligent Enterprise
• Deloitte research whitepaper: Integrated Compliance and Risk Management – Rethinking the Approach
• Deloitte research whitepaper: Financial Fraud – Does an Economic Downturn Mean an Uptick?
• Deloitte research whitepaper: The Risk Intelligent Board – Viewing the World Through Risk-Colored Glasses