Who should the risk manager report to?

Alex Sidorenko from RISK-ACADEMY talks about the place of the risk manager within the organisational structure, as well as pros and cons of different reporting lines for the risk manager. https://www.youtube.com/watch?v=r2b005LDwLA   Watch more free risk management videos on http://www.risk-academy.ru/en/risk-management-video/ or subscrive to RISK-ACADEMY youtube channel https://www.youtube.com/user/alexausrisk

More than 3000 people downloaded the free risk management guide

We are very proud and grateful that more than 3000 have already downloaded the free risk management guide available on the RISK-ACADEMY website: https://www.risk-academy.ru/en/download/risk-management-book/ Another great news, our guide is now available on the International Federation of Accountants (IFAC) webiste under the RMIC resources: http://www.ifac.org/global-knowledge-gateway/risk-management-internal-control Big thank you to Vincent Tophoff. – – – – – – -…… Continue reading More than 3000 people downloaded the free risk management guide

The whole concept of risk-appetite is total nonsense

The concept of risk-appetite has been around for years, yet so many risk practicioners still find themselves confused and unsure how to quantify, formalise and document it. Well, the short answer is YOU DON’T NEED TO. There is a better way. First, disclaimers. The following article only applies to non-financial companies, just like everything else…… Continue reading The whole concept of risk-appetite is total nonsense

Building risk management alliances

(extract from the Guide to effective risk management 3.0, read the full book for free: https://www.risk-academy.ru/en/download/risk-management-book) Risk managers should build relationships and join forces with the other managers responsible for performance improvement initiatives, like lean management, quality, safety, environment, security or others. Risk managers should participate in relevant major performance improvement workshops (for example, kaizen…… Continue reading Building risk management alliances

FREE WEBINAR: Integrating risk management into strategic planning

Over the years, risk managers have tried various ways to get the business units to participate in the risk management process. Some simplified the risk identification and assessment methodologies, others complicated them. The result in both cases was the same – disappointment. Best case scenario – annual or quarterly risk assessments were perceived as a necessary evil with most employees ignoring them and few actively resisting.
Did it ever strike you as odd, that risk management is supposed to be a support function, yet business units are constantly required to provide the information to the risk managers and not the other way around? It almost feels like the business is there to support risk managers in doing their job.
Maybe, just maybe, it is time for the risk managers to stop living in a universe, where the business is regularly required to provide information, participate in risk assessments and to contribute to lengthy discu