In short, to be an effective and sustainable organisation, one can't exist without the other. And this applies whether it's a Private, Public, Not-For-Profit or Government entity.
Firstly, Risk Management needs the imprimatur and indeed mandate of the Board - clearly articulating to Management and the organisation as a whole, its expectations in this regard.
Secondly, those charged with the governance of the organisation, the Board of Directors, need a robust and recognised process for evaluating opportunities and initiatives as well as threats to the achievement of objectives (collectively, the risks).
When working well, with clear and regular communication, governance activities are much improved, and Risk Management is even more effective!
Hope you enjoy this episode - look forward to your thoughts / feedback.
Contact ABM Risk Partnership to optimise your risk management approach:
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