effective risk prioritization

Effective Risk Prioritization Is Key to Effective Risk Mitigation

A big mistake in risk management, especially when it comes to companies with newer programs, is underestimating the importance of standardized risk prioritization. Diving into identification and assessments without a sufficient framework inhibits prioritization. This can result in ineffective risk mitigation and duplicate work across departments, or even serious risks flying under the radar. The possibility…

connecting risk information

How Enterprise Risk Management Prevents Surprises

Governance programs are the unsung heroes of 21st-century business operations. Their situation is analogous to that of football’s offensive line. If an offensive line does its job, no one will notice it, but when something goes wrong, the spotlight shifts. Governance personnel know this feeling all too well. Unwanted surprises – be they compliance notices,…

risk identification and risk assessments prevent surprises

4 Ways to Prevent Business Surprises with Risk Identification

Nobody likes surprises in business. Using a risk-based approach to identify your organization’s likely vulnerabilities is highly recommended and vital to short-term and long-term success. Expanding regulations make compliance increasingly complex and expensive, and increases in deficient internal audit controls have heightened scrutiny of companies by the SEC, PCAOB, and investors. Business surprises are preventable,…