Follow these ten tips on risk management and you’ll be well on your way to preventing corporate disaster.
1. Identify the main risks
Identify the main risks from the company’s risk register and review the mitigation strategy. Boards should be ready to challenge any risk assessment they are concerned about. Cybersecurity risk will currently be one of the top concerns for most boards.
2. Assign responsibility for risk
Make sure that each major risk has a named executive who owns and takes responsibility for specific areas. For example, if the risk relates to currency volatility then it will be the responsibility of the finance director. On cybersecurity it will be the information technology chief.
3. Place risk at the heart of business
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