Our free risk management book has been downloaded 2000+ times RISK-ACADEMY Blog

With more than 2000 downloads in less than 3 weeks and a lot of possitive feedback, I hope you enjoy the free risk management book: www.risk-academy.ru/en/download/risk-management-book or read it online on our website without the need to login: www.risk-academy.ru/en/introduction

Here are some of the key takeaways from the book:

Risk management is not just about tools and techniques; it is about changing the corporate culture and the mindset of management and employees. This change cannot happen overnight, risk managers need to start small by embedding elements of risk analysis into various decision making processes, expanding the scope of risk management over time.
It is vital to break the status quo where risk management is seen as a separate and independent activity. Instead, risk managers should integrate risk management into all core business activities. This can be achieved by integrating risk analysis into decision-making processes, assisting management in evaluating projects and strategic initiatives with the use of risk analysis tools, integrating risk management into strategic planning, budgeting and performance management, incorporating responsibilities in job descriptions, providing management training and etc.
Risk managers should strive to become advisors to senior management and the Board. Advisers that are trusted and whose recommendations are listened to. To achieve this, risk managers may need to break away from traditional models like “3 lines of defence” and instead choose to actively participate in the decision making, take ownership of some risks and provide an independent assessment of risks associated with important business decisions, maybe even veto some high-risk activities.