Risk Management should be about helping organisations make better business decisions. As the most significant of these decisions tend to be made by the Board, one would expect the approach to decision making to be at its most effective in the Boardroom – with the Chief Risk Officer (or senior risk representative) taking a leading role in seeking to ensure decision making is optimal. The increasing effectiveness of Risk and Compliance functions, combined with regulatory pressure, have led to a substantial increase in the focus on risk and regulatory matters.
Through practical examples and insights from Board Directors, this article focusses on how CROs can help their Boards to:
- Focus on what is important
- Enhance the efficiency and effectiveness of decision making
- Help create and protect value.
