Risk assessments are vital to effective governance and compliance. The very notion of effective compliance and risk management is built upon an understanding of what risks an organisation is willing to tolerate, and at what level.
But what if your organisational culture was a risk in itself? As a risk manager, are you aware of the inherent risks across your organisational culture and subcultures, and the hindrance these may be placing upon the implementation of your key risk management initiatives?
Understanding your organisational culture is a key skill for a centralised risk manager in order to know how to engage and empower staff to practice risk in a positive and proactive way. Your workplace values and behaviours can demonstrate very clearly how you, as a risk manager, can better engage staff on risk procedures and policies. It can help to identify gaps in the chain of understanding and adherence.
The link between conduct, culture, risk and safety are growing more and more evident. We’ve recently seen the NSW Department of Premier and Cabinet release their new code of conduct and more public sector organisations are using conduct and values as a tool to enhance safety and reduce risk.
A positive “risk” culture is tightly connected to the wider organisational culture
Key skills of effective risk managers today often centre around relationships, communication and engagement. Risk frameworks do nothing on paper, they are only effective in practice. Strong work at the “ground level” of an organisation can lead to a strong acceptance of risk and a positive change to workplace behaviours.
These wider considerations are a must if you are to succeed in prioritising your risk management practices and getting the buy-in you need across the organisation.
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