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Risk Management Review & Support

Risk and uncertainty are forces that are part of everyday life. Consider the painter propping up a ladder to paint the side of a house: once the ladder has been spread open and placed in the right position, the painter will give it a good shake from side to side.

By bombarding the ladder with physical forces, the painter is simulating how stable the ladder will be when he climbs up to paint the house. The same is true in business. Check some of your stable business platforms and give them a good shake: are there any new risks that fall out?

There is more to risk than what you can see. The notion of enterprise risk is that it occurs at each of your organization's touch points. This would include: strategy, compliance, financial, operation, environmental and reputation. 

What if risk didn't just mean a negative deviation from the expected result? What if risk was actually hidden opportunity – perhaps even the source of your next innovation?

If your organization chooses to take a positive point of view on risk, or at least a more constructive viewpoint, how would staff then begin to manage risk in their own areas of responsibilities ─ even in the face of complete uncertainty?

This Formal Risk Management Plan Facilitation includes:

Review of existing risk library, including risks identified by staff, Board and stakeholders

  • Development of a comprehensive and manageable risk ranking system for all of the organization's identified risks

  • Development of a compliance register for risk

  • Development of definitions of risk rankings

  • Development of comprehensive risk management strategies for all of the identified high priority risks, including project plans (timelines and success measures) for all identified major risks

  • Development of an electronic template to manage and monitor risks

  • Analysis of ethical issues and strategic opportunities for all identified major risks

  • Upskilling of the CEO/senior staff by the external consultant in all areas of risk management to ensure future programs are analysed, ranked and strategies put in place

  • Upskilling of the Board by the external consultant in regards to embedding risk reports into the Audit committee agenda, Board agenda and evaluation processes

Capacity will be built through the upskilling of the CEO, staff and the Board.  As well as the benefits outlined in the objectives, this facilitation will assist in more effective strategic planning via an increased understanding of the environmental factors potentially affecting the organisation, the strategies to address these environmental impacts, the development of action plans and contingency plans, and the development of formal reporting and accountability measures as part of the risk management process.

Once all programs are analysed and a comprehensive risk management library  has been developed, risk management procedures for new projects, strategic directions, planning and reporting processes can be embedded into usual practice by the CEO, staff and Board.

 

 Why Conscious Governance

Steven Bowman was responsible for the Victorian Government auspiced Review of Risk Management for the Adult and Community Education sector, and is also a much sought after speaker on the topic of risk management throughout the world.

He has published a number of books and articles on the subject, and is an advisor on risk to some of Australia's largest listed corporates and nonprofit organisations.

 

The Risk Management Processes Audit will consist of the following:

 

  • Review of existing risk library, including risks identified by staff, Board and stakeholders

  • Analysis and recommendations regarding risk ranking system for all the organization's identified risks

  • Analysis and recommendations regarding compliance register for risk

  • Analysis and recommendations regarding definitions of risk rankings

  • Analysis and recommendations regarding risk management strategies for all of the identified high priority risks

  • Analysis and recommendations regarding template to manage and monitor risks

  • Recommendations for upskilling of the Board and staff in regards to embedding risk reports into the Audit committee agenda, Board agenda and evaluation processes

 
 
 

The Workshop:

“Risk Management Rocks! Risk seen through the Lens of Strategic Opportunity”

 

This workshop will include the following:

  • A new way of engaging with risk: What if risk was easy to identify, provided strategic advantage to your organisation, and added value to achieving your vision and mission? What if risk was perceived by your Board as strategic advantage, hidden opportunity, potential innovation? Would this change how you and you organization dealt with risk? Understanding risk will unlock invisible opportunities. Risk is strategic advantage, not a compliance issue.

  • Identifying enterprise-wide risk in a comprehensive, elegant manner

  • How to rank risks so we focus on the big ones at Board level, and the smaller risks at the staff level

  • How to manage risk so it creates strategic opportunity and develops revenue streams

  • Changing culture so risk becomes strategic and useful, not compliance and feared.

  • Ensuring you comply with the Risk Standard as well as leveraging off risk

 
 
 

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