Risk-culture self-assessment

1
Risk-culture self-assessment
Your Result
Inadvertent Amateur Your company may be quite
young and still struggling to establish itself.
Or maybe senior management is simply preoccupied
with surviving the current economic recession.
But, in either case, you probably dont spend
much time thinking about risk. You dont have any
systems, processes or controls in place to manage
risk effectively, and you dont have a clear
sense of where the dangers lie.
Steps towards improving your position The first
thing you should do is identify the key risks
your business faces and rank them in order of
importance. You should also look at how other
companies tackle such risks, to see whether
theres anything you can learn from best practice
elsewhere. Then you should start developing
systems and processes for managing your biggest
risks. You may need to hire new people to help
you establish suitable controls. You will
certainly need to provide your existing employees
with training and make sure that they know whats
expected of them. You may also have to change the
way in which you reward them, because people
dont behave differently unless they have an
incentive to do so. Lastly, youll have to
measure how well youre doing and take corrective
steps, if necessary.
If you would like to speak to somebody in PwC
about this assessment please visit
www.pwc.com/getuptospeed