A blueprint for company risk management
To be held on Tuesday, September 25, 2018
Hanif Barma (Board Alchemy)
Chris Burt (Halex)
Brandon Davies (Responsible Finance Institute)
Time and again, when corporate failures hit the headlines, it is clear that risk management was inadequate, especially at board level. It seems that companies, such as Carillion, can identify their principal risks in theory but somehow fall down in practice.
So, what is best practice for a risk committee? And how can the board ensure that good decisions and guidance are acted upon throughout the risk management process? The Risk Guidance Initiative, with the blessing of the Bank of England, has brought together senior industry practitioners, risk professionals and academics to develop a definitive set of standards, covering the relevant roles, responsibilities and activities. This would include the roles of the board risk committee and the chief risk officer, and the over-arching purpose of what can too easily become a detailed compliance exercise.
How each organisation manages risk will depend on the nature of its activities and the context it operates in – but principles-based guidance in key areas should help head off the next corporate failure.
The initiative is being sponsored by the Institute of Risk Management and Airmic, an association of company executives involved in risk management.
Leading the discussion from the project will be Hanif Barma, a founding partner of Board Alchemy; and Chris Burt, principal of Halex Consulting and formerly of Independent Audit.
They will be joined by Brandon Davies, a trustee of the Responsible Finance Institute Foundation a non-executive director of Lintel Financial Services Limited and of Obillex Limited. Brandon retired from Barclays in 2004 where he was Treasurer of retail and corporate banking and a member of the banks’ Executive Committee.
So, come and share your thoughts/concerns/hopes and let us know of by emailing firstname.lastname@example.org or phone us on 020 7621 1056. As usual, there will be wine and sandwiches.