WSCAP Training: Enterprise Risk Management
Enterprise Risk Management: Don't Miss on Your Mission From Leadership to Board Risk Committee Leaders, you don't need one more distraction taking you away from meeting your goals, managing your teams and supporting governing bodies. By identifying risks at an organizational level, you have a better chance of ensuring one risk doesn't cause you to miss on your mission. This session explores what capabilities you should develop and what actions you need to take to ensure critical risks are identified and managed effectively at your agency. For example, having clear business objectives tied to overall strategy, understanding your business context and the impact your community partners could have on your agency, understanding whether you are staying in compliance with regulatory guidelines and more. This session will highlight what an enterprise risk management system can teach you about your organization and why you won't want to manage your agency without one. You have a governing body. You may even have a few committees as part of your board. But do you have the right committee to oversee risks at an organizational level, and does a risk committee make sense for you? Join this session to discuss the differences between the audit committee and a risk committee. You don't want to be in the position to have to design and implement a risk committee after you need it. You want it to be in place to provide input to management on critical risk issues evident throughout the organization, not just the financial risks. You want it to establish a risk appetite so clear guidelines exist for the amount of risk considered acceptable by the organization, and you want it to help coordinate the activities of other committees assigned to manage risk. A risk committee may not make sense for every organization, but it may make more sense than you realize.
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