Communicating corporate objectives and the strategic plan is a key consideration in the governance of an organization. Promoting effective communication throughout the organization is essential as it establishes a “Tone from the Top” that is consistent with good governance
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Communicating Corporate
Objectives and the Strategic
Plan is a key consideration in
the governance of an
organization.
Promoting effective
communication throughout
the organization is essential as
it establishes a “Tone from
the Top” that is consistent
with good governance.
Linking Corporate Strategy to Risk
Management
by Steven Money
3. WEBSITE: http://globalriskcommunity.com/
EMAIL: info@globalriskconsult.com
Objectives emanate from or are
included within a statement of
mission and/or a statement of vision
When risk management embraces
corporate objectives, the objectives
themselves become a starting point
for the determination of risk.
Objectives is a natural follow-on to
think in terms of what are the risks to
meeting each objective in terms of an
employee’s role and level within the
company.
Linking Corporate Strategy to Risk
Management
by Steven Money
4. WEBSITE: http://globalriskcommunity.com/
EMAIL: info@globalriskconsult.com
When risks are aligned with
corporate objectives, organizations
ensure that each risk is in line with
corporate revenue and profit
expectations.
It also ensures that no risk or
related treatment activity is in
opposition to corporate strategy
and therefore that no risk is in
opposition to revenue and profit
expectations.
Linking Corporate Strategy to Risk
Management
by Steven Money
5. WEBSITE: http://globalriskcommunity.com/
EMAIL: info@globalriskconsult.com
1) The costs of risk treatments (whether mitigated, transferred,
accepted or avoided) are always in alignment with revenue and profit
expectations.
2) The cost of risks and risk exposure is measured and compared in a
way that supports the strategic plan.
3) The communication of corporate strategy is inherent in the risk
management process and serves to enhance the maturity of corporate
governance.
The benefits of linking corporate strategy to risk
management include:
Linking Corporate Strategy to Risk
Management
by Steven Money
6. WEBSITE: http://globalriskcommunity.com/
EMAIL: info@globalriskconsult.com
4) Each level of the company that participates in risk
management thinks in terms of how their processes and risks align with
corporate objectives.
5) The risk assessment and analysis process addresses operational and
compliance considerations (and their associated risks) to ensure alignment
with corporate strategy.
6) Determining risks is often easier when first considering an objective, such
as “What are the risks that will prevent me from achieving [fill in the
blank]?”
Linking Corporate Strategy to Risk
Management
by Steven Money
The benefits of linking corporate strategy to risk
management include:
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When the risk determination process
starts with company objectives and is
associated with operational risks and
compliance risks, risk determination is
naturally aligned with corporate strategy.
Once defined, all risks are assured to be
associated with a corporate objective and
therefore all risk treatment plans and
associated costs are directly measurable
to corporate strategic planning and
revenue and profit expectations.
Linking Corporate Strategy to Risk
Management
by Steven Money
8. WEBSITE: http://globalriskcommunity.com/
EMAIL: info@globalriskconsult.com
Create an assessment
that captures
corporate objectives
in your risk
management
software system, and
then link it to the
associated risks.
Linking Corporate Strategy to Risk
Management
by Steven Money
Linking Corporate Strategy to
Risk Management is simple:
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EMAIL: info@globalriskconsult.com
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