Without effective management of the compliance risks that really matter, the organization is reactive, at best, and noncompliant, at worst…
If the behavior of middle managers contradicts the messaging and values conveyed from the top, it won’t take long for lower-level employees to notice.
The first question most organizations seek to answer in risk management is, “What are our most critical risks?”
Paring down the company’s risks to the ones that really matter is a test of the effectiveness of enterprise risk management. If the process generates a laundry list of risks, it’s “game over” in the C-suite and boardroom.
Rapid change seems to be the order of the day, as the speed and complexity of business continue to increase…so regulatory demands continue to expand.
From a risk oversight standpoint, a company’s reputation management is inextricably linked with its risk management and crisis management…
The appropriate risk assessment approach suggests the need for an end-to-end extended enterprise view of the value chain, requiring consideration of looking upstream to supplier relationships as well as downstream to channels, customer relationships and all the way to the ultimate end-user.
Protivit’s Jim DeLoach discusses the fundamental differences between business planning and strategy setting before offering the place where risk management begins to intersect with performance management.
Strategic risk analysis assists senior management with understanding the critical assumptions underlying the strategy and uses contrarian analysis to challenge those assumptions. Protivit’s Jim DeLoach explains how it works.
When integrating risk with strategy-setting, management should consider two things – risk appetite and an assessment of strategic risks. Today, Protiviti’s Jim DeLoach focuses on defining risk appetite.