Having worked as a risk professional in three companies with the aim of enforcing a sound risk culture there has been some lessons learned. In building up risk functions from scratch in previous roles and being in the process of building up the risk functi

Think Tank - 11:20 am - 11:45 am

Having worked as a risk professional in three companies with the aim of enforcing a sound risk culture there has been some lessons learned. In building up risk functions from scratch in previous roles and being in the process of building up the risk function in P27 - which is a newly established company- it has been a learning experience of which to share.

All companies and even all individuals have their own view on risk - what it is good for and how it will benefit success. Having a company culture with a solid risk focused foundation is key for reaching the company targets.

Takeaways:

In this presentation I will elaborate on risk awareness, risk management and risk culture from a risk professional's point of view. I will incorporate it into a couple of case studies and give my view on what can go wrong if a company has an ineffective risk culture and why it is important not to let that be the end of the game.
Being successful in risk management means that you have to identify problems, issues and vulnerabilities, you have to enforce transparency, you have to be able to prioritize and most importantly - you need to team up with your stakeholders.
The risk area is not a target, the risk area is a way to reach success. The risk professional's job is to give guidance, ensure that there are ways of communicating risk and provide - and utilize if needed - clear processes and methods for escalation and reporting.