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A three-step process to develop a strong risk management framework

By Louise Fleming, Partner, Aretai Consulting

23 September 2015

Do you have a world-class award-winning risk management framework? Do you want one? The answer is 'probably not', but that is no reason to stick with what you have. Wherever your firm is on the 'risk management journey', you should at least complete an annual evaluation of the adequacy of your risk management framework. Best practice is to summarise this in a succinct paper for presentation to your board and/or senior management team, together with a prioritised action plan for identified gaps.

If you don't have this in place already, now is a good time to start. No business is perfect and there are almost certainly areas where you know you could improve risk management. There are three key benefits
to this exercise:

  1. increased revenues as barriers to achieving strategic objectives are addressed;

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