Board level risk reporting
Friday, February 29th, 2008Another benefit ERM is the production of Board level Risk committee reports. I was at a customer yesterday where it takes two people one month to produce the bi-annual risk committee report. The report is a foot high set of papers collated from all of the risk departments. This means that in reality non risk executives have extreme difficulty comprehending the enterprise risk position and even less chance of making good governance decisions.
Apart from the size of the report, the customer said that if we could make the production of it a more objective and automatic process then we would mitigate a lot of risk and save some money.
Richard Pike
