Risk Commentary
Risk Commentary
Aug 24, 2021
Who is the Risk Champion?
Play • 17 min

SHOW NOTES 

Introduction

So far we have discussed the technique of High Quality Risk Assessment sufficiently to enable initial experimentation. The question then arises: who actually is leading this work? What are the requisite qualifications and background? Is any special training needed? 


Significance of the Enterprise Risk Management champion 
- implementation lead

Formal role, title and training
- multiplicity of titles
- varied training
- facilitation

Background and qualities
- critical thinking
- leadership
- influence and persuasion - properly understood

Functions
- promotes risk ownership
- leads experimentation
- coordinates minimal, essential documentation
- reports 
- celebrates success
- in sum: builds capacity 

Summary
1. implementation lead must understand the theory
2. able to lead trial sessions and explore the value inthe new practice
3. no formal training is essential, except perhaps facilitation skills
4. competencies: critical thinking; lead the coordination of results;
5. use influence and persuasion to lead others o their own success

What constitutes success?
- how can we make ERM part of the corporate DNA? See quote (next).

KEY QUOTE
”the ERM champion’s success in instituting ERM will not hinge on the degree of authority leveraged. The reason is that willing participation in genuine Enterprise Risk Management... is not a response to formal authority. It is an outcome of seeing the value of the new process.” (Robertson 2016, Solving the ERM Puzzle, p.24)

LINKS 

(E. Robertson 2016) Solving the Enterprise Risk Management Puzzle: Secrets to Successful Implementation

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