Risk Oversight | Risk Oversight Support Packages
The 2008 global financial crisis knocked many down for the count and scared the rest. Now, regulators, private and institutional investors, shareholders, and rating agencies want to see companies adopt better, more effective risk management and oversight frameworks.
Change your risk response from traditional to better.
Risk Oversight Inc has specialized expertise to help Boards and small to mid-size companies respond to new expectations in risk oversight.
Our innovative, cost-effective risk packages start as low as $50,000. Our support services are specifically designed to address the Ten Principles outlined in the 2009 NACD report, Risk Governance: Balancing Reward and Risk1:
- Understand the company’s key drivers of success.
- Assess the risk in the company’s strategy.
- Define the risk oversight role of the full board and any standing committees.
- Consider whether the company’s risk management system—including people, processes and resources—is appropriate and sufficient.
- Work with management to understand and agree on the types and format of risk information the board requires.
- Encourage a dynamic and constructive risk dialogue between management and the board, including a willingness to challenge assumptions.
- Closely monitor the potential risks in the company’s culture and incentive structure.
- Monitor critical alignments of strategy, risk, control, compliance, incentive, and people.
- Consider emerging and interrelated risks: What’s around the corner?
- Periodically assess the board’s risk oversight processes: Do they enable the board to achieve its risk oversight objectives?
1 National Association of Corporate Directors, Risk Governance: Balancing Reward and Risk, 2009, pp. 10-11
The information in this article was current at 06 Dec 2011