French CaldwellMany risk managers are still in a situation where they’d like to be able to contribute strategically, but they find themselves in the position of spending a lot of time still reacting to events. The upcoming annual meeting season is an opportunity for risk managers to show that they can be more than just the loss managers. Consider the issues that affect corporate strategies, including non-financial issues. Perhaps consider supplementary reporting for stakeholders who have more than just financial interests. And move to a year round effort of tracking both financial and non-financial risks — don’t just get started in November. For example, the Occupy movement is top of mind for many shareholders and corporate directors. Fairness in how employees are treated and how customers are treated is one major theme that is emerging from the Occupy protests – so what is your fairness index, and which strategic key performance indicators will this fairness index most impact? For those high-impact KPIs, the fairness index is a leading indicator of performance. So how could your enterprise improve the fairness index with respect to the strategic KPIs that are affected most?
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Category: Risk Management Strategic Planning compliance public policy Tags: ERM, reputational risk
