Board Risk Oversight

Posted on januar 23, 2015 by janvig

 

ERM–guiden

Praktisk Enterprise Risk Management(ERM)

Helhetlig og Integrert RisikoLedelse(HIRL) = ERM

 

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Board Risk Oversight

“Risk oversight” describes the role of the board of directors in the risk management process. The risk oversight process is the means by which ​the board determines that the company has in place a robust process for identifying, prioritizing, sourcing, managing and monitoring its critical risks and that that process is improved continuously as the business environment changes. By contrast, “risk management” is what management does, which includes appropriate oversight and monitoring to ensure policies are carried out and processes are executed in accordance with management’s selected performance goals and risk tolerances.

 

Through the risk oversight process, the board:

  • obtains an understanding of the risks inherent in the corporate strategy and the risk appetite of management in executing that strategy,
  • accesses useful information from internal and external sources about the critical assumptions underlying the strategy,
  • is alert for organizational dysfunctional behavior that can lead to excessive risk taking, and
  • provides input to executive management regarding critical risk issues on a timely basis. 

 

Risk oversight is a high priority for today’s boards of directors.

 

Les mer

 

Hvis du har noen spørsmål eller ønsker å vite mer om kursguidene Praktisk Enterprise Management (ERM) kan du bruke kontaktmulighetene nedenfor:

 

 

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