9
WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Linking Corporate Strategy to Risk Management by Steven Money Best Content from GlobalRisk Community
| Date post: | 07-Nov-2014 |
| Category: |
Economy & Finance |
| Upload: | boris-agranovich |
| View: | 179 times |
| Download: | 2 times |
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
Linking Corporate Strategy to Risk Management
by Steven Money
Best Content from GlobalRisk Community
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
Communicating Corporate Objectives and the Strategic Plan is a key consideration in the governance of an organization.
Promoting effective communication throughout the organization is essential as it establishes a “Tone from the Top” that is consistent with good governance.
Linking Corporate Strategy to Risk Management by Steven Money
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
Objectives emanate from or are included within a statement of mission and/or a statement of vision
When risk management embraces
corporate objectives, the objectives themselves become a starting point for the determination of risk.
Objectives is a natural follow-on to think in terms of what are the risks to meeting each objective in terms of an employee’s role and level within the company.
Linking Corporate Strategy to Risk Management by Steven Money
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
When risks are aligned with corporate objectives, organizations ensure that each risk is in line with corporate revenue and profit expectations.
It also ensures that no risk or related treatment activity is in opposition to corporate strategy and therefore that no risk is in opposition to revenue and profit expectations.
Linking Corporate Strategy to Risk Management by Steven Money
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
1) The costs of risk treatments (whether mitigated, transferred, accepted or avoided) are always in alignment with revenue and profit expectations.
2) The cost of risks and risk exposure is measured and compared in a way that supports the strategic plan.
3) The communication of corporate strategy is inherent in the risk management process and serves to enhance the maturity of corporate governance.
The benefits of linking corporate strategy to risk management include:
Linking Corporate Strategy to Risk Management by Steven Money
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
4) Each level of the company that participates in risk management thinks in terms of how their processes and risks align with corporate objectives. 5) The risk assessment and analysis process addresses operational and compliance considerations (and their associated risks) to ensure alignment with corporate strategy. 6) Determining risks is often easier when first considering an objective, such as “What are the risks that will prevent me from achieving [fill in the blank]?”
Linking Corporate Strategy to Risk Management by Steven Money
The benefits of linking corporate strategy to risk management include:
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
When the risk determination process starts with company objectives and is associated with operational risks and compliance risks, risk determination is naturally aligned with corporate strategy.
Once defined, all risks are assured to be associated with a corporate objective and therefore all risk treatment plans and associated costs are directly measurable to corporate strategic planning and revenue and profit expectations.
Linking Corporate Strategy to Risk Management by Steven Money
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
Create an assessment that captures corporate objectives in your risk management software system, and then link it to the associated risks.
Linking Corporate Strategy to Risk Management by Steven Money
Linking Corporate Strategy to Risk Management is simple:
WEBSITE: http://globalriskcommunity.com/
EMAIL: [email protected]
Sign up NOW using this personal invitation link http://globalriskcommunity.com/?xgi=0QLXOKRG13ye0O PS: Below are just some of our popular content and discussions published on our site: (accessible only for members. Registration is Free and takes only 1 minute). Employment trends and Salary Insights http://globalriskcommunity.com/profiles/blogs/2013-salary-insights Case studies, whitepapers and free research of the week: http://globalriskcommunity.com/profiles/blogs/case-studies-whitepapers-and Complimentary Trade Magazine Subscriptions & Technical Documents: http://globalriskcommunity.com/profiles/blogs/trademagazines
Join our community to get new business, new contacts, jobs, latest news and to exchange ideas
