Here’s a good talk about risk at the board-level. (video via Deloitte)
An excerpt from Henry Ristuccia, partner at Deloitte and co-leader of its governance and risk management services division.
“What we’ve found as a result of lessons learned from the economic crisis and credit crisis is that major stakeholders feel that traditional risk management has failed or had shortcomings. What I mean by that is that when you talk to legislators and regulators … there’s a real focus on improving the corporate governance, the risk management-type activities in organizations. When you turn that to independent directors and boards, independent directors are looking for greater transparency, better mechanisms to manage risk at a very high level in the organization. Generally speaking, it’s the real critical risks that we call the ‘value-killer’ risks.”
Worth watching for anyone interested in raising the profile of risk management in their organization and how strategic risk management — the future of the discipline — can more quickly evolve.