SEVEN KEY RISK MANAGEMENT LESSONS

Seven Key Lessons

Below I have listed the "Seven Key Lessons of Holistic Risk Management." They are as useful guidelines for risk managers as I have seen, worth posting over your desk. Re-read them regularly.

Ÿrisk can be good and bad.

ŸIntegrated risk management enhances stakeholder value.

Ÿrisk management requires commitment and buy-in from senior management, and the board.

Ÿeffective risk management programs are designed centrally but implemented locally.

Ÿcommunication is essential to integrated risk management.

Ÿrisk management programs generally include a risk framework, system and champion.

Ÿrisk measurement is one of the next frontiers of integrated risk management.