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Perhaps the most important aspect of the Board's responsibilities is to oversee the identification, measurement and control of risks which the business faces. This is not just a preventative activity, it encompasses the ability to see opportunities, calculate the risks and take them.
To fulfil its function the Board relies heavily on the quality of the risk management function and the ownership of risks and controls by those working in and leading business areas.
We have been working with boards and risk management teams to improve processes and reporting as well as embedding into business areas understanding of this topic. Increasingly Behavioural Risk and Reputational Risk have been identified as the root cause of failures and regulators are turning their attention to what Boards are doing to embed risk management.
We are fortunate that three of our Senior Consultants are highly experienced in the three main areas that Boards need to consider and will be happy to discuss how best to achieve the improvements you are seeking.
Eithne McManus - Currently a Non Executive Director, a member of a Risk Committee and who has extensive experience as a CEO and Director in the world of insurance (life and general). Eithne leads our Effective Risk Committee briefings. "The Effective Risk Committee' - Really useful, given me lots of things to think about - more than the questions I came with" Head of Risk and Governance, Aegis
Dr Roger Miles - it is the hidden risks that derive from the behaviour of people that fascinate Roger. He is extensively published on this topic and works with firms to bring life to this important sphere of risk. "Very good - Dr Miles clearly knows his subject and gave good answers to questions" Risk Director, Equitable Life Assurance Society
Richard Smith - Richard believes that firms need strong, agile risk management capabilities, that go beyond risk process and put risk at the centre of making decisions and creating value. He runs a Masterclass on the topic and work with firms to bring dry, detailed data to life. "Good overview with good practical tips, good speaker with excellent knowledge" Chief Risk Officer, Julius Bear
If you feel that you or your Board could benefit from our help please read more about our risk management services or Contact BP&E Global now to discuss your Board Performance needs
BP&E Global – because Board Performance Matters