Risk evaluation is supporting the Board to understand corporate risk, reputational risk and Directors’ personal risks. Once evaluated and the gaps determined, the Board is supported to workshop novel and creative solutions, and with facilitation, address the risk issues pertinent to their own organisation and the face it projects to the stakeholders.
A subset of this area is focusing on dealing with a crisis and embedding the response processes such as the handling of the media and the way social media will impact the reception of the information presented. Training is provided to address risk maturity, risk gaps and determination of the risk landscape and how it can impact the future of the business.
It will happen, it is when and how well the organisation responds that defines sustainability in the long term.
Risk Culture is the step beyond Risk Appetite. See Horst’s post on LinkedIn which gives many links to tools and solutions as well as the IRM’s guidance on risk culture launched in London in October 2012.