Risk disclosure is very important. Increasingly, stakeholders are expecting companies to test and disclose the effectiveness of not only financial risk management but also other business risks, including market, operational,… Continue reading Practical ideas: Include risk information in the company’s external communication

Risk management should not be viewed as a separate, stand-alone process. One of the most effective and yet simple ways to change management’s perception about risk management is to integrate… Continue reading Practical ideas: INTEGRATION INTO DECISION-MAKING PROCESSES

Risk management should be integrated into the performance management cycle of the organisation: both at the individual level and the corporate level.

While it is quite common to budget using three scenarios (optimistic, realistic and pessimistic) it may not be sufficient from a risk management point of view. These scenarios are often… Continue reading Practical ideas: INTEGRATION INTO BUDGETING

We start with strategic planning because it affects all levels of management, hence giving maximum exposure to risk management. Senior management, Board members and even some shareholders input into the… Continue reading Practical ideas: INTEGRATION INTO STRATEGIC PLANNING

According to the ISO 31000:2018 principles, risk management is an integral part of all organizational activities. and decision making. Picking up on that important point, risk management should be seen… Continue reading Practical ideas: RISK-BASED STRATEGIC PLANNING, BUDGETING AND PERFORMANCE MANAGEMENT

Over the years, risk managers have tried various ways to get the business units to participate in the risk management process. Some simplified the risk identification and assessment methodologies, others… Continue reading Practical ideas: HELP EMPLOYEES INTEGRATE RISK ANALYSIS INTO THEIR WORK

The golden rule of risk management – the simpler it is, the more transparent and easier it is to understand and implement! The Risk manager’s goal should be helping organisations… Continue reading Practical ideas: KEEP IT SIMPLE

We use a lot of gamification in our training sessions. Some of the examples include:

Another useful suggestion is to develop an internal risk management certification for employees working in high-risk activities. This will ensure staff working in high-risk activities, like manufacturing, trading, insurance, security… Continue reading Practical ideas: Develop in-house certification for employees in high risk activities