Critical Questions About Risk Management
29/04/2025
Boards are the cornerstone of effective risk oversight, ensuring organisations mitigate liabilities and seize opportunities. With the right questions, boards can align risk appetite with strategic goals and foster a culture of accountability.
Proactive risk management isn’t just about avoiding pitfalls but empowering growth. How is your board fostering resilience and strategic agility?
Here’s a snapshot of key areas every board should prioritise:
🔍 Governance, Appetite & Strategy
1️⃣ Risk Appetite: How much risk is acceptable to drive shareholder value?
2️⃣ Clear Roles: Are risk responsibilities defined at every level?
3️⃣ Emerging Risks: Is there a process to identify new or evolving threats?
📊 Risk Assessment
4️⃣ Tailored Framework: Does your assessment address the organisation’s unique risks?
5️⃣ Strategy Alignment: Are risks linked to business objectives?
6️⃣ Control Gaps: Do existing controls sufficiently reduce residual risk?
📈 Ongoing Monitoring
7️⃣ Metrics Matter: Are risk indicators aligned with strategic goals?
8️⃣ Embedded Culture: Is risk management part of planning, training, and communication?
9️⃣ Transparent Dialogue: Is risk reporting open and continuous across all levels, including the boardroom?
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.