Recently, our President/CEO, Gail Birks was a featured panelist in Chicago, Illinois at the American Leaders Conference. She is also a veteran Independent Corporate Director, having served over 20 years in this professional arena.
Ms. Birks spoke on Enterprise Risk Management from a Board of Director's perspective. This means that one has to look at potential risk from a universal scope. Ms. Birks shared her insight and expertise on Enterprise Risk Management by touching on the following areas. The outline of her comments are below.
I. Risk Management role means looking beyond the financial statements. This creates new dialogue in the following areas...
Audit Committee begiins to look at the areas surrounding the core
Assessments of "Good Corporate Citizenship"... or is it?
Board Oversight... Are we asking the right questions?
II. Executive Performance, Compensation and Incentives
What type of training are we offering our associates
Is our communication transparent and/or consistent
Do we have inclusive Strategic Planning and Monitoring
Are we following best practices in Operational Processes and Procedures?
Are the Directors and Executives managing by "Walking the Halls?"
III. Compliance by any other name is about protecting our reputation
IV. How are we framing compliance in the context of the entire enterprise. It starts in the Board Room. Questions to ask include...
What are the current compliance obligations and risks?
Are there any ticking bombs sitting around?
Who owns the risk?
What controls are in place that will trigger in a timely manner when problems arise? And how well are our people trained to quickly mtigate?
How does the organization respond to failures in controls? When is the board notified of extraordinary and /or significant issues?
How are remediation priorities set?
If you would like Ms. Birks to speak to your organization, she can be contacted at 954-476-3525 or firstname.lastname@example.org.