Five questions about risk committees
Board members have expressed increasing concern about their risk-oversight roles and responsibilities — and how best to fulfill them. This isn’t just an issue for financial services firms, where recent regulations have started to require (not just suggest) board-level risk committees. These days, a range of large organizations have begun exploring how risk committees can help them better navigate an uncertain economic and regulatory environment.
Here, Henry Ristuccia, partner, Deloitte & Touche LLP and Global Leader, Governance, Risk and Compliance Services, answers questions about the value of board risk committees, and what’s involved in establishing one. Afterward, Maureen Errity, Director, Deloitte LLP, Center for Corporate Governance, lends her perspective on trends around risk governance and oversight practices.
This Risk Angle answers the following questions
- Why would an organization need a board-level risk committee?
- Why would a board risk committee provide enhanced oversight?
- How does a board risk committee really work?
- How important is it to have a charter?
- So, how does a risk committee really define its responsibilities?
It also takes a closer look at proxy disclosures.