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Volume 32, Issue 2

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Tuesday, 05 March 2019 16:52

How chief risk officers can make everyday enterprise risk management tasks strategic

There are nine enterprise risk management (ERM) activities that at least nine-in-ten of the North American chief risk officers (CROs) we surveyed said that they perform in one way or another over the course of a year. None of these activities is necessarily strategic, but a strategic CRO can put a strategic spin on any of them.

And the more times CROs are heard speaking strategically about their work, the more likely they will be invited to play a role in the future strategic activities of the firm.

In general, the way to make any of these activities more strategic is to shift orientation away from focusing on separating information by risk and toward presenting the information in the context of strategy.  Easy to say, but the nuances of how to do that play out differently for each activity

Let’s review these nine activities and see how the seemingly mundane can be strategic.

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https://blog.willis.com/2019/02/how-chief-risk-officers-can-make-everyday-enterprise-risk-management-tasks-strategic/