Embedding Risk Management – A Rigorous Process, Remaining Nimble and Aligned Towards the End Game
Risk Managers benefit from a background in Internal Audit. Furthermore, auditors can benefit from the work of Risk Management. Together, these functions can help organizations to reduce risk and effectively navigate toward their strategic and operational objectives.
In 2012, the Royal Canadian Navy set an objective to establish an effective Risk Management (RM) system as part of its strategic governance. The aim was for this system to be functional by March 2014 and fully established by March 2016. Despite having charted the journey’s course, there were numerous changes in wind direction and sea levels during the journey that required the crew’s full abilities, including the application of a few pounds of uncertain wisdom!
During this session, John will describe how his team, who was responsible for this journey, developed a plan of attack to meet the challenge of creating an effective RM System for the Royal Canadian Navy. John will share his perspective on the value of risk management, including how auditors and risk managers can support each other to add value to the organization. He will outline the engagement strategies used, the practical principles followed, and the simple techniques applied which helped the team, and its clients, to stay focused on the end game.