Five questions on cultivating a risk intelligent culture
Even though many organisations have spent years developing and implementing risk management frameworks, policies, procedures and sophisticated technologies, some of them are still experiencing significant unexpected problems far more often than they would like.
On any given week, a glance at the business headlines offers ample reason for concern from a risk perspective. So what’s missing? For many, the infrastructure is in place — but the culture is weak. And no matter how good the risk infrastructure, risk management is essentially a people issue, because people take responsibility for managing risk. Smart organisations have developed a culture of Risk Intelligence to gain the edge.
So what should business leaders who are looking to shore up their organisation’s risk culture have in mind as they move ahead?
In this report we ask Deloitte Consulting LLP’s Eddie Barrett and Deloitte & Touche LLP's Scott Baret some important questions for getting started. Then, Michael Fuchs, principal, Deloitte Consulting LLP and Consulting Leader for Governance, Risk and Compliance lends his perspective on the expanding role of Human Resources (HR) in managing risk.