Repairing Your Company's Risk Management - Forbes.com

Repairing Your Company's Risk Management - Forbes.com

Leadership
Repairing Your Company's Risk Management
William Spinard,
09.28.09, 03:10 PM EDT

An Accenture survey shows how widespread the need for fixing is, and suggests ways to go about it too.

Excerpts:

A snapshot of the results of the survey of 260 chief financial officers, chief risk officers and others responsible for corporate risk in 21 countries suggests just how much surgery may be needed to repair risk management. By huge margins, the respondents identified the following major problems:

--Ineffective integration of risk, return and capital issues in decision making: 85%.
--Lack of alignment between a company's strategy and its risk appetite: 85%.
--Insufficient management understanding of risk exposure types, and lack of agreement on how to mitigate such risks: 82%.
--Inadequate availability of timely risk, finance and business data: 80%.
--Lack of company-wide processes that could provide a complete picture of the impact of risk exposure: 78%.
--Ambiguous divisions of responsibility concerning risk between corporate and business units: 78%


Read full article: http://www.forbes.com/2009/09/28/risk-management-accenture-leadership-governance-strategy.html

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.