Tag: Risk Culture Factors

Factors Which Determine a Good Risk Culture

To understand and embed a good risk culture, your company needs: A committed board and senior management who recognize that risk management is a core competence of the business and not something that is delegated to the risk manager(s). A board that is not complacent about things going wrong and maintains a sense of vulnerability. This is a particularly important concept because it requires the board to recognize the risk of complacency setting in when things are going right. A recognition that risk management is not just a regulatory requirement but an essential element to achieving business success. No witch...

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