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GRC Professional : GRC Autumn 2013
Role call Senior management and directors must understand what the practices of the organisation really are and what their stated risk appetite is -- versus what really goes on. Getting this kind of traction m ay involve: • Educating the board and discussing some clear and relevant examples. • Use some fexibility in the reporting. Providing a simple summary in an executive level introduction or one -page paper, highlighting the most important and then more detailed infor mation backing up the summary as appendices for those directors interested. • Take some lessons from education theory. Consider different learning styles, make use of graphics, experiential learning or examples of the kinds of risks and consequences that are being illustrated. • Use visual and auditory resources if that is possible. • Use a case studyofan example thathasbeenin the press and replicate what the results of the same example occurring in their organisation might have looked like. This could involve revenue loss figures, costs for implementing changes as a consequence of the risk being realised. • Scenario planning is a valuable tool for exploring risks and opportunities in the long term and making a risk and potential outcome 'real' to those who need to under stand the implications - rather than just taking your word for it. • Drop technical terms if they aren’t easily understood -- or worse still -- are easily misunderstood. • It may also be possible to translate some of the consequence terms to the dollar impact on the business, should the risk be realised. • Enlist the assistance of other senior managers or subject matter experts to co -present or author papers on case studies or future scenarios to give validity to the reporting. • Never forget (or let the boa rd and senior management forget) that the human and social elements that interplay with your activities pose or may increase risk, particularly operational risk. • Demonstrate your value, not only highlighting the potential disasters, but by actively seeking the opportunities inherent in risk. • Above all, make the discussion and debate real and relevant to your audience. ••• RISK MANAGEMENT 20 GRC Professional • Autumn 2013
GRC Summer 2013