INTEGRATED RISK MANAGEMENT
Risk is an integral part of management. Risk management must align with the strategy, objectives and culture of the firm. Boards are expected to oversee risk management, but a strong overall culture is the thing that will move the firm from passive to active, integrated and agile risk management. This includes breaking through organisational silos, integrating critical people and processes such as strategic planning, and connecting the dots across the enterprise to assemble a holistic view of risk.
There is little point in risk teams and businesses working in silos. The whole aim is to integrate the management of all the disparate risks of a portfolio of businesses or even of a single business. This allows the firm ...
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