Implement Enterprise Risk Management across your organisation no matter where you are on your Risk Management journey by taking these 7 steps:
Paint a Picture: Make sure you can show and explain what the end game looks like to top management and staff.
Draw the Journey: Let them know they are on a journey, describe it and tell them where they are right now.
Pick the Low Hanging Fruit: Don't try and win everyone over at once. Get going with those most likely to convert.
Find your Risk Champions: Develop a Risk Champions Committee - not THE Risk Committee, but a committee of managers who report on Risk to the top and who tailor your Risk Framework.
Give on the Job Training: Risk Management is best learned on the job. All training should be highly practical and as short as possible so you maximise attendance.
KISS: Keep it simple stupid. Although it is not simple, make it as uncomplicated as possible. Try to use business rather than risk terminology and modify existing processes and systems rather than create new ones.
Climb the Mountain: Generally the CEO/Board are not low hanging fruit. They may be strong leaders, but not Risk Leaders. Work up to them. Engage them early by using the steps above so that they buy in, then WIN THEM OVER so they are true Risk Leaders. It takes finesse.
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