Practical ideas: Find the right sponsors

A large part of risk management success depends on the support and commitment from executives, Board members and key stakeholders. It is important, as early as possible, to identify specific people at different levels within the organisation who support the concept of risk-based management and are ready to assist the risk manager:

Practical ideas: Include risk items on Board’s agenda

This next step is very important to reinforce strong risk culture within the organisation. There are various ways of including risk discussion on the Board’s agenda, however we believe that it is more effective to spend fifteen minutes on risk matters at every meeting than an hour once a quarter or a day once a… Continue reading Practical ideas: Include risk items on Board’s agenda

5 reasons why internal audit may be the best place for the risk manager to sit

A while back I recorded a short video on the topic of risk management organizational structure in a non-financial company. In the video I discussed various options for risk manager’s place in the overall organizational structure. Since there is really no single right answer, the few common options include: reporting directly to the CEO, reporting… Continue reading 5 reasons why internal audit may be the best place for the risk manager to sit