A Guide to Effective Risk Management Oversight

A Guide to Effective Risk Management Oversight

We often hear complaints from Non-Executive members of Audit and Risk Committees that “We’re not getting what we should out of our Risk Management’.” This guide is adapted from a December 2021 webinar presented by our founder and partner Richard Sheath discussing the challenges Audit or Risk Committees routinely encounter and possible solutions to overcome them.

Risk Management Effectiveness

Creating a comprehensive approach to risk management enables good decisions to be made on a day-to-day basis. We often see the Risk Committee focussing almost exclusively on the Risk Management Framework. While this is an important element, a more effective risk management model includes all five elements in the diagram…