ERM
|
CBI Proposals
|
- Approve Conduct Risk Appetite Statements
by the Board to drive change
- New Business/Product, Sales, Front Office
duly incorporated into Risk Governance Structure
- Communication strategy around values,
compensation, training
- Alignment of incentives with
risk objectives and enforceable disciplinary action for breaches in
rules and misbehaviour.
- Risk Control Self Assessments & Collection of data on past events
|
●
Mandatory responsibilities for Senior
Executive Functions
●
Comprehensive Statements of
Responsibilities
●
Responsibility Maps
|
The table above in our view demonstrates that the
proposed SEAR regime is strongly aligned to the ERM process. Having a mature
ERM framework in place better prepares organisations for regulatory change
whilst helping them achieve their strategic business objectives in a positive
way that’s good for their employees, stakeholders and their bottom line.
If
you would like to partner with RegSol to embed an effective Risk Management
Framework in your organisation, please talk to one of our consultants today.
By Judy de Castro - Regulatory Consultant