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Risk: Making its way to the front line in the workplace

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cmtoo 21-May-20, 15:11	Risk: Making its way to the front line in the workplace As companies in all industries grapple with a business environment in which the risk management function is being challenged as never before, traditional models of governance are being upended. The standard corporate governance model of three lines of defence – starting with front-line staff, through the risk management and compliance function, and then to the internal audit department – has been exposed by a new era of higher regulatory scrutiny, increased public expectations and heightened social media exposure. Companies face the challenge of balancing cost pressures and creating shareholder value while accepting far greater involvement of broader stakeholders, and vastly higher visibility of their every action. As environments rapidly evolve, organisations need holistic risk management from the Board to the front line. Organisations should continue to transform the way risks are managed – leveraging technology and data to help align and bring risk alongside the front line decision-making processes. From The Age From another thread - cmtoo

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cmtoo
21-May-20, 15:11

Risk: Making its way to the front line in the workplace

As companies in all industries grapple with a business environment in which the risk management function is being challenged as never before, traditional models of governance are being upended.

The standard corporate governance model of three lines of defence – starting with front-line staff, through the risk management and compliance function, and then to the internal audit department – has been exposed by a new era of higher regulatory scrutiny, increased public expectations and heightened social media exposure. Companies face the challenge of balancing cost pressures and creating shareholder value while accepting far greater involvement of broader stakeholders, and vastly higher visibility of their every action.

As environments rapidly evolve, organisations need holistic risk management from the Board to the front line. Organisations should continue to transform the way risks are managed – leveraging technology and data to help align and bring risk alongside the front line decision-making processes.

From The Age

From another thread - cmtoo

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