Want a quick way to make compliance more efficient? Focus on the WHY, not the WHAT of risk & compliance.
The focus of most risk & compliance training tends to be WHAT the business needs to do, the infamous risk cycle. Very little time is spent on HOW the risks are managed, often dedicating the last 5 minutes to flick through screenshots of risk registers or references to the source regulation (in the case of compliance training).
Hardly any time is spent on the WHY. I don’t mean the generic WHY of risk management. Rather the WHY that is relevant to the business, the WHY that is reflected in business policies. The WHY that the business communicates with external stakeholders (regulators, auditors etc.)
I’ll be talking about CoVi Analytics’ “ERM 2.0 – a risk & compliance framework for business teams” and how it makes risk & compliance effort scalable at RiskMinds in March this year. If you are attending – come say hello.