A French military leader once remarked, “A plan is always perfect until battle commences.” The same holds true for companies: despite the best laid plans, it is impossible to anticipate all possible risks. External events such as a recession, a flood or a terrorist attack are beyond anyone’s control. While companies have more control over internal risks, it is impossible to monitor every employee’s values and actions. The recent high-profile corporate scandals are testament to that fact. The right kind of planning can help assuage the impact of negative surprises.

But what is the “right” kind of planning? Debate continues about the benefits of enterprise risk management (ERM) versus traditional practices. Is ERM simply another trendy risk management tool? Or, has its value been proved by enabling companies to gain a complete understanding of their risks so they can better prioritize them and develop comprehensive management solutions?

Before even deciding on which risk management techniques and tools to employ, it is imperative that the Board develop a “tone at the top” to support the organization’s values and risk-aware culture. How much risk should a company take and what are the possible rewards? The culture created by the directors and senior officers of a corporation is the most effective tool of risk management.

The myriad of risks companies face including financial, operational, strategic, legal and reputational can seem daunting. Join Forbes editors and risk management experts including CFOs, Treasurers and Chief Risk Officers as they discuss how they are managing their corporate risks, and the management techniques and tools they employ.
https://www.forbesconferences.com/EventOverview.