Executive Summary
Improving risk maturity will help organisations to make the right choices for business resilience amidst growing external uncertainties. Strategic execution at the underlying people, data and technology fundamentals will help to develop the practices and clarity required for these decisions and, therefore, the management of these risks. Excellence in this fundamental will manifest in how risk intelligent executives and the Board become.
CIOs who partner with the Risk Leader, CISO and CFO can elevate risk maturity by:
- Relating the five risk levers to your organisational context.
- Digitising risk mitigating workflows and developing a carbon benchmarking score enabling long term business resilience.
- Developing standard frameworks to prioritise and operationalise governance practices.
- Building a secure culture by driving awareness across the Board and workforce.
- Revamping business continuity recovery planning (BCR) and modelling future risk to develop cyber resilience.
- Developing smart procurement solutions and 3rd party contracting enhancing value across supply chains.
The risk maturity fundamental is depicted below. The subsequent practices will examine the levers that matter, what good looks like – and how to drive change in each of them.
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