What are the most common mistakes in operational risk communication?

1 Lack of clarity

One of the most common mistakes in operational risk communication is lack of clarity. This can happen when the message is too vague, complex, or technical for the intended audience, or when the purpose, scope, and expectations of the communication are not clearly defined. Lack of clarity can lead to confusion, misunderstanding, or indifference among the recipients, and reduce their trust and engagement. To avoid this mistake, you should always tailor your message to the needs and interests of your audience, use simple and concise language, and provide clear and specific information about the objectives, outcomes, and actions related to the operational risk.

2 Overload or underload

Another common mistake in operational risk communication is overload or underload. This can happen when the amount, frequency, or format of the communication is too much or too little for the situation, or when the communication is not aligned with the priority or urgency of the operational risk. Overload or underload can lead to information fatigue, frustration, or anxiety among the recipients, and reduce their attention and responsiveness. To avoid this mistake, you should always balance your communication with the level of risk and the needs of your audience, use appropriate channels and tools, and provide relevant and timely information that supports decision-making and action.

3 Bias or distortion

A third common mistake in operational risk communication is bias or distortion. This can happen when the communication is influenced by personal or organizational preferences, assumptions, or emotions, or when the communication is manipulated or misrepresented by external or internal sources. Bias or distortion can lead to inaccurate, incomplete, or misleading information about the operational risk, and reduce the credibility and reliability of the communication. To avoid this mistake, you should always base your communication on factual and objective data and evidence, acknowledge and address any uncertainties or limitations, and disclose and manage any conflicts of interest or influences.

5 Lack of follow-up

A fifth common mistake in operational risk communication is lack of follow-up. This can happen when the communication is not monitored, evaluated, or updated, or when the communication does not report or communicate any progress, results, or changes related to the operational risk. Lack of follow-up can lead to loss of momentum, accountability, or relevance in the operational risk management, and reduce the value and impact of the communication. To avoid this mistake, you should always track and measure your communication performance and outcomes, and provide regular and consistent updates and feedback to your audience and stakeholders.