When we talk about confidence in managing risks, we’re really talking about confidence in the effectiveness of your risk management program — and apparently, we have a systemic disconnect between the board and management about that issue.
While I still disagree in some areas, I applaud Jim DeLoach for his latest piece for the (US) National Association of Corporate Directors, Revamping Risk in the Digital Age. Please read the entire piece, but here are points I especially like, with my highlights:
Corporate governance and “long-termism” are key buzzwords in our modern fiduciary lexicon. Between Q1 2018 and Q2 2019, governance deficiencies were responsible for the highest number of enforcement occurrences across major financial services regulators, according to research from global professional services firm Navigant.