The ‘risk universe’ we operate within constantly changes and evolves. In response, our capability to understand this risk environment must also evolve so that we can make conscious and informed decisions regarding the levels of risk we are prepared to accept in the achievement of our objectives.
This includes emerging issues and trends that may represent risk and/or opportunity.
Risk and strategy are integrally connected – two sides of the same coin – and one cannot be successful without a deep understanding of the other.
For instance, strategy development can be severely impeded without a thorough understanding of the strategic risks facing the organization or the operational and compliance risks which are not being managed within the agreed risk appetite.
Similarly, risk identification can be severely impeded without an understanding of the strategic direction that the organisation wants to pursue.
An organisation’s Strategic Plan and Risk Appetite Statement are two of the most important governance documents in the organisation. They guide the pursuit of value creation by the management team and the Board within the confines or the risk appetite considered appropriate.
Board Business provides expert consulting services in:
- Risk Oversight Review;
- Risk Appetite Statement (RAS) development
- Organisation Risk Review;
- Risk Management Advisory; and
- Risk Reporting.
Board Business has developed an effective framework for identifying the Governance, Strategic, Operational and Compliance Risks of the organisation and facilitating meaningful decisions regarding their management and risk appetite. These Risk Reviews ensure a focus on non-financial risk in addition to financial risk.
A recent interview with the Global Chief Executive of headhunter, Egon Zehnder raised some interesting points…Read More