Page 73 - IRMSA Risk Report 2020

ARE Y OUR OR GANISATION ’ S RISK M ANA GEMENT RESOUR CES
WHAT IS Y OUR OR GANISATION ’ S RISK DELIVER Y MODEL ? ADEQU ATE T O M ANA GE IT S RISKS ?
Functional Management Functional Management
Operational Management
Operational Management
Company Secretary
Company Secretary Other Assurance Roles (e.g. Audit, Compliance, Ethics)
Other Assurance Roles (e.g. Audit, Compliance, Ethics) Risk Consultant/Professional
Risk Practitioner
Risk Consultant/Professional
Risk Manager
Risk Practitioner
Chief Risk Officer/Head of Risk
Risk Manager Chief Operations Officer
Chief Risk Officer/Head of Risk Chief Financial Officer
Chief Executive Officer
Chief Operations Officer
Non-Executive Director or Committee Member
Chief Financial Officer
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Chief Executive Officer
Yes - we have adequate resources in our risk team, with very robust integration of risk management in all our
Non-Executive Director or Committee Member
activities
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Yes - we have enough resources in our risk team to guide the rest of the organisation to effectively manage our risks
Centralised - risk management is controlled at and delivered by head office
Hybrid - Central process with decentralised delivery by operations staff or 'risk champions' in other roles Somewhat - we have a risk management department, but they are too overloaded to support / enable the rest of our organisation
effectively
Decentralised - risk management process, staff and delivery is driven at department, divisional or subsidiary level
There is no directive as to whether or how risk management is practiced in the different parts of our organsiation No - we don't have adequate resources in the risk team or in the rest of the organisation to adequately manage our risks

WHICH RISK M ANA GEMENT T OOL IS MOST V AL U ABLE IN Y OUR
DOES Y OUR RISK M ANA GEMENT DEP ART MENT HA VE THE OR GANISATION T O DRIVE RISK M ANA GEMENT OUT C OMES ?
APPR OPRIATE RISK M ANA GEMENT C AP ABILIT Y ?
Functional Management
Functional Management
Operational Management Operational Management
Company Secretary Company Secretary
Other Assurance Roles (e.g. Audit, Compliance, Ethics) Other Assurance Roles (e.g. Audit, Compliance, Ethics)
Risk Consultant/Professional Risk Consultant/Professional
Risk Practitioner Risk Practitioner
Risk Manager Risk Manager
Chief Risk Officer/Head of Risk Chief Risk Officer/Head of Risk
Chief Operations Officer
Chief Financial Officer Chief Operations Officer
Chief Executive Officer Chief Financial Officer
Non-Executive Director or Committee Member Chief Executive Officer
Non-Executive Director or Committee Member
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Yes - leading edge capability. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Yes - we have adequate, skills, processes and use of technology Face-to-face, facilitated risk workshops Electronic surveys
Somewhat - we are adequate in one area or two areas. Data mining Informal gathering / analysis of risk related information
No - we lack adequate people, processes and use of technology Combination of the above

G R A P H S 5 : R I S K M A N A G E M E N T C A P A B I L I T I E S .

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