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How to map the risks that could make or break your firm’s strategy

By Louise Fleming, Partner, Aretai Consulting 

20 February 2015

By Louise Fleming, Partner, Aretai Consulting 

Cast your mind back to the last time risk management appeared as an agenda item for your board or senior management team. Did the discussion identify the key risks the business faces in delivering its strategy? If so, did you come to an agreement on the priority risks to be evaluated in more detail?

The reality is that, for all but 'risk professionals', an agenda item to discuss key risks or an invitation to attend a risk workshop is not what gets them out of bed in the morning. This is because firms approach risk from the bottom up, not the top down, and from a compliance perspective, not a strategic perspective.

The starting point for risk management should be strategy. Renewed market confidence opens up new opportunities for legal and other professional service firms. As firms review their strategic options t...

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