My view of the role of the risk profession differs to those who designed and promote the Three Lines of Defence (3LOD) model (at least how it has been interpreted by some). As with my musings on whether there should be separate risk and audit committees for Boards, (see Blog, 22/11/09 “Should Audit and Risk Committees be Separate?” and Risk e-Views - Risk Leadership: Should a Board have a Risk Committee? 22/09/12) I feel risk professionals in organisations need to be advisors and confidants o
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Lack of knowledge means more uncertainty means greater risk. Assumed knowledge can be even more dangerous than lack of knowledge and risk workshops are a safe haven for assumptions because of time limitations and dominant personalities. Here are four sources of assumptions with some tips on how to handle them during a risk workshop:
1. Seniority - When you have senior people in the room, too many people a ssume they are right, or will give them the benefit of any doubt in their mind because of th
