When we conduct risk assessments we are often satisfied with the outcomes based on our existing knowledge. Our knowledge however is usually based on some facts and a whole lot of assumptions, perceptions and theories. As human beings we use our five senses of sight, smell, taste, touch and hearing to maximise our knowledge about
It is inevitable for governance, risk and compliance (GRC) to converge. They are all about achieving the objectives of the organisation. For me, the greater debate is what role should an individual take as a leader in the convergence of the GRC space in an organisation? It was no surprise that the International Federation of
To ensure you have the correct risk leaders in the correct place in your organisation, you need to consciously match your employee’s appetite for risk with your organisation’s appetite for risk. Here is a brief checklist for you to consider when resourcing a business unit: Assess the risk appetite Assess the leader Adjust the team
Being a risk leader in your organisation is always a challenge. More than once I have been asked “How do you get a blustering, super confident CEO to slow down and listen to what we are trying to achieve in the risk function?” Unfortunately I don’t have the silver bullet, however, here are a few
Lack of knowledge means more uncertainty means greater risk. Assumed knowledge can be even more dangerous than lack of knowledge and risk workshops are a safe haven for assumptions because of time limitations and dominant personalities. Here are four sources of assumptions with some tips on how to handle them during a risk workshop: 1.