LogicGate Webinar: Risk as A Team Sport
- Matt Kunkel, LogicGate CEO
- Michael Rasmussen, GRC Analyst & Pundit at GRC 20/20 Research, LLC
Today, company leaders must grapple with a variety of circumstances prompted by unpredictable economic times and continuous innovation in a rapidly changing world. More than ever, how well a company manages its business is directly related to how effectively it manages its business risk.
For successful risk management, organizations must develop a proper framework and implementation plan. This often requires a dedicated team with well-defined objectives, a clear scope and an agreed-upon allocation of responsibility. Including company-wide functions like compliance, incident management, accounting, finance and more help mitigate the most common threats to a risk management program: lack of communication, siloed information and buy-in.
Putting together the necessary pieces to successfully create a team to manage risk management is very similar to the steps, strategies and people it takes to develop a football team. Positions like the head coaches/CEOs make strategic decisions for the long term health and success of the team, quarterbacks/COOs are responsible for the operations and more tactical tasks and centers/CFOs are involved in every play of the game, allocating budget to each department much like handing the ball to the appropriate team member. These are just a few of the positions that make up a successful team.
In this webinar, we will:
- Outline the critical risk-related business issues that different organizations face (macroeconomic, strategic, operational)
- Explain the importance of cross-functionality and the necessary roles/positions that play into successful risk management
- Present tactics organizations can use to develop standard policies, measurement methodologies and risk frameworks that can be leveraged cross-functionally, throughout the organization