This is the time for a well-developed, well-embedded and well-operated enterprise risk management framework and processes. It is not a time to throw away risk management thinking. It is a time to bring it into action.
Risk management is about more than compliance: the risk of failing to meet compliance obligations is just one of many types of risk that your organisation faces. If your internal case for risk management is based around regulatory compliance, you’re doing yourself a disservice: the risk team should be working to ensure that the business is able to achieve its overall objectives.
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