Reporting and managing risk

Reporting and managing risk A look at current practice at Tesco, RBS, local and central governmentResearch executive summary seriesVolume 6 | Issue 8 Margaret Woods Aston University, UKReporting and managing risk A look at current practice in the private and public sectors | 1 Key findings: Risk management is no longer solely a financial discipline, nor is it simply a concern for the internal control function. Where organisations retain a discrete risk management cadre often specialists at monitoring and evaluating a range of risks their success is dependent on embedding risk awareness in the wider culture of the enterprise. Risk management is most successful when it is explicitly linked to operational performance.

customer loyalty. External factors such as competitor activity might affect decision making at the periphery. But the board feels that shareholder value flows from operational efficiencies designed to help its own people exceed customer expectations. Risk management, as a discrete function at least, is no exception to that rule.

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  Customer, Value, Managing

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