Bridge the Gap Between “Knowing” and "Doing"
Use learning programs to develop Enterprise Risk Intelligence
The shaping up of Integrated Compliance and Risk Management (ICRM) has provided the risk management infrastructure and programs a higher degree of integration, efficiency and impact across industries. However, in spite of all this emphasis and effort companies are struggling to effectively drive regulatory adoption, compliance and risk management behaviors. This is due to the difference between awareness and execution.
It is vital for an enterprise’s risk management and compliance strategy that employees are educated appropriately to build an effective foundation on which they can be mobilized and empowered to make valuable day-to-day risk-reward trade-offs. Accordingly, organizations should focus on:
- How can the operating model of compliance and risk functions and their interactions with the business, help drive, develop and support the right skills, capabilities and mind-set?
- How can we cultivate awareness and appreciation of the business’s risk appetite while developing people’s critical thinking and decision-making skills to appropriately apply this knowledge given their specific role and responsibilities?
Deloitte Consulting LLP’s article, Bridge the gap between “knowing” and doing”, discusses the effective implementation of risk intelligent learning strategy along with the attached assumptions, role of leadership and the keys to risk intelligent learning.
Download the report to understand how risk management is a core component of individual and group decision-making and is a part of the very manner in which individuals, teams and functions think and act.