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Tips for successfully implementing a risk analysis program at your organisation

  1. Don’t boil the ocean. There’s a lot that you can do, and I’m sure there’s a lot that you aspire to do. But get an understanding of where you stand today, where you need immediate improvement, and where you hope to immediately see value. This will get you on the front foot.
  2. Get some alignment with teams. Getting your teams into a risk workshop can be transformative. Or you can find the cross-functional teams that you’re going to work with and get an understanding of what their goals and objectives are. Because that way, you can all share insights, and you can ultimately gain a much stronger understanding of risks.
  3. Make risk analysis visible across your organisation with clear reporting and actionable insights.
  4. If you can approach risk with business success and resilience in mind it makes you a real asset to every project.

Ask, “Do you know which our greatest risks are?”

If you’re unclear you could find RiskTree transformative.

RiskTree helps you to analyse your risks, can support internal audits, business continuity – the list goes on. But ultimately, it exists to help organisations understand where their greatest risk exposures lie, and then determine where they need controls to ensure that the business is operating effectively. Importantly, having a clear view of risk results in better decision-making, a culture of risk awareness, and helps the organisation achieve its strategic objectives.

Everyone deals with some aspect of risk, whether it’s getting a password on your laptop, protecting customer privacy or dealing with complex systems and providers. Risk feeds into the daily lives of everyone, whether you’re thinking about it actively or not. So, risk professionals have a diverse range of responsibilities, depending on who they are and what their objectives are.

What RiskTree’s analysis software does is really elevate that position, and says,

“Do we have a clear understanding of risk across the organisation, and do we know if the things we have in place are working?”

And then applies a level of oversight so you can find the most critical areas of concern across your business immediately

There can also be a lot of disconnect between teams. The compliance team might not share information with the audit team, or they might not share information with risk. But teams need to work collaboratively. If everyone’s working from their own isolated Excel document, it’s hard to understand or gain insight from that information. In a modern enterprise risk function, you’re proactively thinking about risk and attempting to predict events before they happen. But are teams able to share data? Are they working in a consistent way? Is risk appetite the same across the entire organisation, or are different teams judging this using different scales?

RiskTree enables teams to think about risk holistically. It provides a consistent way to assess and prioritise risks. It enables teams to share data with clear visualisations and use their own business language so that everyone is clear. Teams can adjust their risk appetite in a consistent way.

Try RiskTree for yourself.

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