InConsult

Developing an effective Enterprise Risk Management (ERM) program is crucial for organisational success. Here are some key steps to consider: - Craft a clear ERM mission statement that aligns with your company's strategic objectives. - Establish a comprehensive risk management framework to guide your ERM processes. - Integrate risk management into your corporate culture to ensure alignment with organisational values. - Identify your complete risk universe to ensure all potential risks are recognised and addressed. - Implement a consistent risk assessment process to evaluate the severity and likelihood of identified risks. - Develop mitigation strategies to reduce inherent risks to acceptable levels. - Establish ongoing risk monitoring using key risk indicators (KRIs) and regular reporting. - Define risk appetite and tolerance levels to guide decision-making and risk-taking behaviours. - Assign clear roles and responsibilities within a risk governance structure to ensure accountability. - Promote continuous improvement by regularly reviewing and updating your ERM program. By no means this is comprehensive, but a good starting point. By following these steps, organisations can build a robust ERM program that effectively identifies, assesses, mitigates, and monitors risks, supporting the achievement of strategic business objectives. #RiskManagement #ERM #CorporateGovernance #BusinessStrategy #RiskAssessment #OrganizationalCulture #StrategicPlanning

🌟 Resilience and adaptability are the pillars of thriving businesses in today’s unpredictable world. 19 key lessons from leaders who’ve navigated challenges, pivoted strategies, and come out stronger. #Leadership #Resilience #Adaptability #BusinessStrategy #Innovation #GrowthMindset #FutureOfWork #ChangeManagement #ForbesLeadership #RiskManagement

🚀 The future of cybersecurity is rapidly evolving! These top 10 Cybersecurity Predictions for 2025 highlight the emerging trends that will shape how organisations protect their assets and data in the years ahead. From the rise of AI-powered threats to the growing importance of zero-trust architectures, staying ahead of the curve has never been more critical. #CyberSecurity #AI #ZeroTrust #CyberResilience #RiskManagement #FutureTech #CyberThreats #Innovation #DataProtection #DigitalTransformation

🚨 Hot Off the Press: Our Latest Newsletter is Here! 🚨 Packed with insights on governance, risk management, compliance, and beyond, this edition dives into: 🌟 Emerging trends shaping 2025. 📊 Practical tips to strengthen your organisation's resilience and culture. 💡 Expert advice to tackle your biggest challenges head-on. Don't miss out—stay informed, stay ahead. Let us know your thoughts in the comments—we'd love to hear from you! #Newsletter #RiskManagement #Governance #Compliance #Leadership #StayInformed #ProfessionalGrowth

Lessons Learned: A Masterclass in Compliance Missteps TD Bank's massive fine is a reminder that compliance failures can be costly—not just financially, but also in reputation. This case highlights: ✅ Clear policies aren't enough—consistent application and oversight are critical. ✅ Oversight gaps invite risk—monitoring processes must be robust. ✅ Culture matters—compliance thrives when employees understand why it matters, not just what to do. Organisations must prioritize training, communication, and accountability to avoid becoming the next cautionary tale. #Compliance #RiskManagement #CorporateGovernance #LessonsLearned #Accountability #Leadership #RegulatoryCompliance

🌏 10 ways to build resilience in the face of climate hazards. Without climate resilience and adaptation, businesses will face disruption and, ultimately, redundancy. This report provides a good assessment of risks and resilience strategies for boards, investors, C-Suite executives and operations managers. #riskmanagement #climaterisk

Transforming risk management into a strategic edge requires aligning it with the organisation’s purpose, integrating it into business strategy, and focusing on customer outcomes. Leveraging data and technology helps identify and address risks effectively, while fostering a risk-aware culture ensures proactive decision-making. These steps turn risk management into a driver of growth and resilience. #riskmanagement

Why do giants like OpenAI and Meta to local firms like WiseTech, grapple with governance issues around accountability, transparency, and ethical standards, especially as companies rapidly innovate in AI and technology? 1️⃣ Rapid innovation, particularly the fast pace of AI and tech advancements often outpaces existing regulatory frameworks and risk management capabilities. Often, the risk management function is treated like mushrooms and kept in the dark. 2️⃣ Interdependencies with tech partners results in a lack of transparency and struggle to maintain clear communication on AI ethics, data use, and decision-making processes. 3️⃣ Ethical dilemmas in balancing innovation with ethical considerations, like privacy and bias, is increasingly complex. 4️⃣ Accountability gaps by defining responsibility in AI-related decisions remains a grey area. 5️⃣ Regulatory expectations are increasing, resulting in pressure and growing scrutiny from regulators which demands stronger governance practices to manage risks and uphold trust. #TechGovernance #AI #CorporateEthics #InnovationRisks #Transparency #Risk #RiskManagement #Governance #CorporateAccountability #EthicsInTech #Innovation

📢 Why Strategy Alone Won't Work: The Critical Role of Culture Strategies often fail when not supported by a strong organisational culture. Simply implementing new technologies or initiatives isn't enough—success depends on the culture’s ability to embrace change. This involves ensuring alignment between leadership and employees, fostering engagement, and reinforcing shared values. When adopting AI, organisations must address cultural barriers by clearly communicating objectives and involving their workforce in the process. Without this cultural support, even the best strategies can fall short, leading to missed opportunities and poor adoption of new initiatives. #WorkplaceCulture #ChangeManagement #LeadershipAlignment #EmployeeEngagement #BusinessStrategy

🧀 🧀 Insight into the Swiss Cheese Model (SCM) in corporate governance, emphasising a "defence-in-depth" approach. The SCM illustrates how multiple layers of controls, processes, and barriers work together to reduce risk by compensating for individual weaknesses. By aligning governance frameworks with this model, organisations can strengthen their resilience against incidents and enhance overall risk management. #CorporateGovernance #RiskManagement #SwissCheeseModel #DefenceInDepth #Resilience #BusinessStrategy #SCM