Risks heighten as they become intertwined within the business. The effective way for organizations to address this threatening state is to integrate risk prevention and response with overall business activities.
But beyond a defensive stance, integrated risk management is a means to better performance through appropriate allocation of resources; greater control of governance, risk management and compliance and associated costs; increased operational efficiencies; and alignment with business strategy to advance the competitive advantage.
As valuable as it is, integrated risk management is a reality for only 14% of respondents to Grant Thornton’s 2017 CFO survey
. For most companies, risk management is fragmented. Almost 10 years after the global financial crisis, integration of risk and business strategies is a critical need.
To strengthen your organization’s security and drive its performance, make the connection between risk management activities and performance outcomes. Gain consensus about priority areas and actions, and develop a strategy for risk management that supports the overall business strategy.
See how to get started on your integration; download and read Achieving integrated risk management: Blueprint for higher performance
Business Risk Services
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