Is Board Risk Oversight Addressing the Right Risks? Strategies for Addressing the New Risk Landscape
In brief: This joint NACD-Protiviti report shares recent survey findings from both organizations about the shifting risk landscape, highlighting five nontraditional risk areas that demand increased board focus. The publication makes the case that existing enterprise risk management (ERM) approaches may no longer be sufficient to address these new risk types and outlines a set of strategies that boards can adopt to strengthen their risk oversight in today’s disruptive business environment.
How boards can use this resource:
- To review their own top risks and assess the need to make any corrections to their current risk rankings
- To assess the effectiveness of the risk management approaches currently used by their companies
- To consider new risk governance approaches that reflect the nature of a fast-changing risk environment
- To engage senior management in a dialogue about the risks that are most likely going to affect the success of the company’s strategy
Most relevant audiences: Board chairs, lead independent directors, CEOs, audit and risk committee members, chief risk officers, and heads of internal audit