Norman Marks discusses points from a recent paper, Feeling hungry? A simpler, more intelligent approach to risk appetite, written by Chris Burt of Halex Consulting.
A new publication by the Risk Coalition (a group of organizations in the UK that includes their Institute of Directors, a couple of risk management associations, and the organizations for internal and external auditors) merits our attention. Raising the Bar: Principles-based guidance for board risk committees and risk functions in the UK Financial Services Sector has some interesting content. For example, it says:
I am planning a meeting with the CRO from a company during which I had planned to share some of the principles of effective risk management, based on what is considered world-class, and the governance of risk management by the board.