Risk Control Begins At The Top

By on December 17, 2018

December 17, 2018

Creating a risk-aware company culture begins with agreeing on a vision and making sure all the key players are on board. Start by discussing your goals and developing metrics to mark progress. One important goal is to make sure the entire organization shares the same risk vocabulary so that risks are consistently evaluated and understood. Avoid the temptation survey a sample. Conduct a company-wide culture survey. That spreads risk consciousness universally, and provides a better benchmark of attitudes. Implementation begins at the top. Bring your board and executive team in line with regulatory expectations for compliance programs and oversight. Make sure everyone from the chairman of the audit committee to the C-suite fully understands and embraces any new language and methods or approaches. Then move down to mid-level and front-line managers. Tone at the middle is more impactful and easier to achieve, but top level management must adopt the same messaging and approach as the rest of the company.
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