Insurance Insight :: Harvard/Zurich survey findings – “who’s kidding who?”


English: Risk Management road sign

Image via Wikipedia

Who ever said risk was optional!!? To read, even this brief extract, one could be forgiven for thinking that a “risk culture”, in some way, sits apart from the, wider, Corporate culture!

NO!!!

Business Executives scratching their heads and wondering why the culture hasn’t changed just isn’t credible. I’ll wager, if the culture was one of increasing efficiency and profitability they would know exactly where the credit and “financial recognition” should go.

Governance, Risk & Compliance failures can/do occur for a variety of reasons but very few CxO’s are prepared to acknowledge or admit that it is because they run contrary to a flawed (unseen) Corporate culture…if this were NOT the case, any Executive who presumed to view themselves as a “leader”, would ensure that appropriate KPI’s were embedded in the business processes that facilitate the effective flow of information – that, themselves, can be a source of risk.

Another common “mistake” is to assume that the Risk Management process itself is adequate. Patently, according to at least one recent report, this is no longer the case: Roads to Ruin Read more of this post