Ideally, operational risk management should serve as the early warning signal to the board and senior executives to take action. In reality, enterprise risk management programs often do not live up to their promise of proactively managing enterprise-wide risks. Two out of three CFOs said their business does not have “complete enterprise risk management processes in place,” according to a recent report by the Association of International Certified Professional Accountants (AICPA and CIMA).
In AuditBoard’s Unlocking Operational Risk Management: Empower the Front Line to Effectively Manage Risk, we explore the reasons for this trend and why, despite the efforts of ERM programs, front-line risk owners are frequently disconnected from the operational risks they own.
Download the full guide to learn:
- Why organizations so frequently miss the mark in connecting operational risks to their overall risk management efforts.
- The significance of operational risk loss events to business performance.
- How to use the three C’s of connected risk management to empower front-line risk owners to better manage their risks.