Risk culture or risky culture – great webinar and what are some of the takeaways

It truly was a great webinar!

Watch the replay from Francois Blouin, Senior Manager, Risk Management – Culture and Transformation at National Bank of Canada and Alex Sidorenko, RISK-ACADEMY, talking about risk culture and​​​​​​​ what it means to an organization. We shared 13 action points for you to implement.

 

I, naturally, suggest you watch the full webinar, there is a story and explanation behind each point. Don’t have the time to watch a 1-hour webinar, here are the points:

Alex has created a short bootcamp designed to help companies implement quantitative risk management. Imagine saving the company so much money that investing in risk management competencies and resources becomes a no brainer for the executives. That's exactly what Alex Sidorenko did at a global $10B chemical company and he has been kind enough to share his top tips and lessons learned with you each week. Sign up now!
  1. Jump on somebody else’s train
  2. Change the risk team mentality first
  3. Engage business along the way and keep your methodologies transparent to all
  4. Establish champions/owners to help drive risk culture
  5. Use the business language
  6. Make risk information accessible to all
  7. Provide simple decision-making tools to decision makers
  8. Audit culture regularly
  9. Get involved in other initiatives outside the risk discipline
  10. Be relevant and be knowledgeable
  11. Understand and align the compensation with risk culture
  12. Try crazy things, never know what will work
  13. Do cocktails

Also, check out my past articles on culture:

RISK-ACADEMY offers online courses

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Informed Risk Taking

Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!

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ISO31000 Integrating Risk Management

Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.

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Advanced Risk Governance

This course gives guidance, motivation, critical information, and practical case studies to move beyond traditional risk governance, helping ensure risk management is not a stand-alone process but a change driver for business.

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