Riesko in support of the Business Board

In a context characterized by rising instability and by the speed of evolution of business dynamics, the conscious acceptance of risk has become a critical component that involves more and more the attention of the top management which in turn finds itself in the daily need to improve its ability to manage the main phenomena of risk and opportunity.
In the last years, the topic of Risk Management has held and continues to hold a strategic position demonstrated by the attention from a number of major stakeholders including the rating agencies and the national and international legislators. In this way the external pressure increases on the business board which is obligated to place greater emphasis both on the major risk exposures to which the company is facing and on the management tools to mitigate these phenomena.
Some analysis show that the time spent on discussions about risks and methods of organization is rather marginal and often, because of a lack of comprehensive understanding of risk situations, the board does not have sufficient evidence (elements) to assess with precision and accuracy the elements of strategic risk rather than operational risk (as well as those of operational risk).
The decision makers, to perform as best they can their role of guidance, supervision and monitoring, should use the results of business performance in the context of risk and coming from an accurate and efficient management system, facilitating in this way the achievement of their strategic objectives.

Consequently, the Board, to ensure homogeneous processes of detection, management and control of the risks of the various structures involved, must:
1.    Be able to have a structured and effective process of risk management that allows to know all risk situations
2.    Quickly obtain information on the presence of significant business risks, the actions taken and the feedback received
3.    Share the discussion of the critical risks in the organization so that it can suggest the appropriate policies and the strategies of implementation
4.    Address the management actions on the situations of risk, ensuring at the same time dynamism in the comparison

Thanks to the above list, it will be possible to reduce the volatility on the expected results, anticipating and acting promptly on the changes of risk in order to increase the confidence of analysts and investors and improve the corporate governance.
The method of collaboration of Riesko allows to involve the entire organization through various levels of access to information, performing an adequate monitoring of risk phenomena both internal and external to the company (social, web etc.). consequently facilitating the business board in its mission.

 

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