Negligent, reckless or improper behavior can result in customer backlash, huge operational costs, and lasting reputational damage. Fostering a strong risk culture is vital for mitigating exposures and averting mishaps.
Nurturing a working environment where personnel at all levels routinely anticipate risks and report issues of concern requires initiatives that reflect how individuals acquire new habits and tap into their motivations. A technocratic reliance on enterprise risk management infrastructure and documentation risks the illusion of control, and will often result in rule fatigue.
In our latest Risk paper with MMC we discuss how change efforts must identify key risk exposures that are influenced by attitudes and practices, characterize prevailing employee behaviours, and specify what is expected of personnel in different parts of the firm. Download the PDF for further insights into common pitfalls and best practices.
