Practical ideas: Select the risk governance model that best suits the current risk maturity level

The risk governance model depends on the management and shareholders’ expectations as well as on the risk manager’s competencies and on the resources available for risk management implementation. The risk… Continue reading Practical ideas: Select the risk governance model that best suits the current risk maturity level

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… Continue reading Practical ideas: Find the right sponsors

Practical ideas: Reinforce the “no blame” culture

Risk managers should encourage employees to openly raise risk management related issues. This is possible by spending a considerable amount of time every day communicating with their colleagues and staying… Continue reading Practical ideas: Reinforce the “no blame” culture

Practical ideas: Promote risk management within and outside the company

Risk managers need to learn to be proud of their contribution to the overall success of the company. Once the company achieves positive results by managing certain risks to a… Continue reading Practical ideas: Promote risk management within and outside the company

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… Continue reading Practical ideas: Include risk items on Board’s agenda

Practical ideas: Document risk appetite for different types of decisions

Most organisations have already documented their appetite for different common decisions or business objectives. Segregation of duties, financing and deal limits, procurement criteria, investment criteria, zero tolerance to fraud or… Continue reading Practical ideas: Document risk appetite for different types of decisions

Risk Management Could Be a Powerful Tool, But it Just isn’t (part 4)

In the final of a four-part series, Alex Sidorenko, founder and CEO of Risk-Academy, explains how to integrate risk management into core processes. If there is one thing I learned… Continue reading Risk Management Could Be a Powerful Tool, But it Just isn’t (part 4)

Risk Management Could Be a Powerful Tool, But it Just isn’t (part 3)

In the third of a four-part series, Alex Sidorenko, founder and CEO of Risk-Academy, explains how risk management is disconnected from decision making. If there is one thing I learned… Continue reading Risk Management Could Be a Powerful Tool, But it Just isn’t (part 3)

Risk Management Could Be a Powerful Tool, But it Just isn’t (part 2)

In the second of a four-part series, Alex Sidorenko, founder and CEO of Risk-Academy, explains how the key to managing corporate risks is often through dealing with the individual risks… Continue reading Risk Management Could Be a Powerful Tool, But it Just isn’t (part 2)

Are risk managers too scared to take risks?

Many risk managers are reluctant to have a conversation with executives about the need to better integrate into decision making and the need to talk and think about risks systematically… Continue reading Are risk managers too scared to take risks?