For many years now, risk managers have sat in the back office of many companies focused on discrete sets of risks such as OH&S, regulatory compliance, cyber security, fraud and so on. Outside of larger corporations and financial services firms, Chief Risk Officers are still the exception not the rule.
Events such as 9/11, the GFC and now the COVID-19 however always increase the awareness of risk management and – most importantly – highlight the value of risk expertise both in the executive team ranks and around the board table.
It was pleasing to see the The Australian Financial Review ‘s well respected Chanticleer columnist highlight the value that risk professionals can bring to any organization, earlier this month. 52 Risks Creator and Founder, Peter Deans, provided his thoughts and observations on the management of risk by boards.