Sound risk management is critical to the achievement of business success more than ever before. For directors, this starts with ensuring that risk governance across the organisation is set up for success. Increasing governance demands from shareholders and other stakeholders, increased risks and threats in the external environment and the rise of ESG make it imperative that all boards have €˜fit for purpose', robust and effective risk management governance and oversight practices in place. This White Paper focuses on the important features of effective risk governance. It covers board risk governance, establishment of a risk committee, understanding the key components of a risk management framework or strategy, risk appetite setting, risk management reporting, and the link between risk culture, remuneration and risk outcomes. It is the one-step guide for all directors in understanding what good risk governance looks like. It provides tips and guidance for all boards, irrespective of industry or size of enterprise.
Putting the G into Risk Governance