Senior Executives are being required to attest to the effectiveness of their organisation’s management of material risks. To be confident that risk management is not just a compliance issue requires a culture in which thinking about managing risks is part of “how things get done around here”.
Our Risk Culture Solution puts the spotlight on culture in relation to the management of risk. This is an online assessment that evaluates the perceptions of your people about the importance of managing risk and about how they believe your organisation is performing in six areas –
- Leadership – managing risk is led by example and people are held accountable
- Support – resources and training support a positive risk culture
- Communication – strong two-way communication about risk is encouraged
- Engagement – managing risk is a personal responsibility and part of performance evaluation
- Behaviours – aberrant behaviours that increase risk are not tolerated
- Enterprise-Wide Risk Focus – commitment exceeds legal compliance
The resulting gap analysis between Importance and Performance highlights organisational strengths and weaknesses in risk culture.
The SoluxR Risk Solution provides a clear pathway for action to ensure that your risk culture supports execution of your strategy.