Artikel

Risk Intelligent governance:

Lessons from state-of-the-art board practices

These practices focus on six key areas: defining the board’s risk oversight role, fostering a risk intelligent culture, approving the risk appetite, helping management incorporate risk intelligence into strategy, assessing the maturity of the risk governance process and making sure the organization discloses the risk story to stakeholders.

Publicerad 2014-03-03

 

As a follow-up to our 2009 report, Risk Intelligent governance: A practical guide for boards, we’ve taken a fresh a look at helping board members achieve Risk Intelligent governance. To that end, this paper provides real-world examples and case studies compiled in our work with boards that employ state-of-the-art practices.

These practices focus on six key areas: defining the board’s risk oversight role, fostering a risk intelligent culture, approving the risk appetite, helping management incorporate risk intelligence into strategy, assessing the maturity of the risk governance process and making sure the organization discloses the risk story to stakeholders.

We offer this paper to directors as food for thought and a catalyst for focused action, with the caveat that Risk Intelligent governance is not a one-size-fits-all approach to be adopted by every organization or within each industry.

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