On Wednesday 21st May, I’ll be supporting the ACCA’s global CROs and Risk forum May session with a presentation, facilitated discussion, Q&A. This is an internal ACCA meeting, but this presentation can be re-run.
The session is designed to introduce a comprehensive framework for managing risk and enhancing strategy execution in today’s rapidly changing environment - based on the Business Integrated Governance Body of Knowledge.
Key Takeaways for a Chief Risk Officer:
Business Integrated Governance (BIG) Framework - introduces the BIG framework, which helps organizations manage risk and enhance strategy execution. We explain alignment with ISO 37000.
Embedding Risk in Governance - the importance of making risk management a regular part of operational governance, more than a compliance task. It discusses how to integrate risk into business-as-usual operations and strategic processes.
Social & Environmental Risk and Purpose - the significance of shaping business purpose definitions in line with PAS 808’s Purpose-Driven approach. It provides insights into how organizations can develop strategies and approaches to embed purpose in their policies, processes, practices, products, services, and value networks.
Accountability Mechanisms - the importance of empowering teams with responsibility and support while ensuring accountability mechanisms are robust. It provides examples of accountability node structures and processes to ensure effective governance.
Prioritization and Strategy Delivery: the challenges in strategy delivery and the importance of prioritizing objectives to ensure successful execution. It discusses how to implement strategic objectives through clear lines of sight and prioritization.
Challenges and Solutions - common challenges in strategy delivery, such as lack of clarity, communication issues, and difficulties in cascading objectives. It offers solutions to these challenges through good governance practices and integrated strategy delivery.
Overall, this presentation provides valuable insights and practical guidance for a CRO to enhance risk management, governance, and strategy execution within their organization. We hope it will inspire organisations with an integrated vision of a risk driven strategy, and the means (deliverables and roadmap) to develop possibility into reality.
Background:
2 min intro to BIG - https://lnkd.in/ewHGuWFT
Website - https://big-cic.org.uk/
About the BIG CIC - https://lnkd.in/en-p8qsh
Is anyone here interested in creating a risk theme to our BoK?
https://big-cic.org.uk/what-is-big/strategic-themes/
