Risk Intelligent governance
A practical guide for boards
Today, many boards are taking steps to improve the effectiveness of their risk governance efforts. One of the greatest challenges they face is to develop and maintain a risk governance program that both strengthens risk management practices and supports business objectives to increase shareholder value.
A board should possess enough collective knowledge and experience to promote a broad perspective, open dialogue, and useful insights regarding risk.
The most effective approach to risk governance involves integration of risk management considerations into each and every business decision and pursuit. This whitepaper, therefore, recommends that boards address six key areas of governance:
- Define the board’s risk oversight role
- Foster a Risk Intelligent culture
- Help management incorporate Risk Intelligence into strategy
- Help define the organization’s risk appetite
- Execute the Risk Intelligent governance process
- Benchmark and evaluate the governance process
Risk Intelligent governance: A practical guide for boards.