Risk Coalition

We are delighted to announce the publication of our new risk governance guidance, Raising Your Game.? This follows our initial publications of Raising the Bar (2019) and The Extra G – geopolitical risk oversight (2022).? Our new guidance is designed for boards, committees and senior executives across all sectors. We are delighted that Sir James Wates has written the foreward to Raising Your Game. Our sponsors are Barnett Waddingham, Diligent and Dun & Bradstreet. We also gratefully welcome endorsements of Raising Your Game from the ICAEW, the Chartered Institute of Internal Auditors and the ACCA. Risk governance is now a priority for most organisations and?we believe that?Raising Your Game?makes a significant contribution to understanding what leading practice risk governance and oversight look like. Download the full document at:?www.riskcoalition.org.uk.

An excellent session yesterday, 16 February, at Dun & Bradstreet’s corporate head quarters in Paddington. Peter Neville Lewis, a Director at the Risk Coalition, shared the platform with several senior members of the D&B marketing and product team. Also speaking was James Booth of the International Compliance Association. We covered the more serious aspects of compliance and sanctions – some of the case studies were hair-raising! The need for vigilance and rigorous risk governance was highlighted during the panel discussion, and this was a powerful reminder that fraudulent activities can take place in any part of a business. Often it is an accumulation of several different and seemingly minor indicators that can add up to a much bigger clue. Raising a red flag is therefore crucial and managers need to pay close attention to these. Thank you to D&B, one of our prime sponsors, for putting on an eye-opening event which we were delighted to be associated with.

We are delighted to invite you to join us for a live event at the London office of our sponsor Dun and Bradstreet on 26 February. Registration and event details per this link: https://lnkd.in/eN2ETang Numbers are limited to 50 and the event is filling up quickly, so a place cannot be guaranteed. We hope you may be able to attend this insightful event. The Risk Coalition Team

The Risk Coalition (represented by Peter Neville Lewis and Kathryn Kerle) were recently involved in a high-quality event, hosted by Diligent, at the offices of the London Stock Exchange.??We were joined on the panel by representatives from Brave Within LLP and, of course, our hosts.??The venue was splendid with a terrace overlooking the dome of St Paul’s in the autumn sunshine! The focus of the session was on implementation of the 2024 UK Corporate Governance Code.??How much work is entailed??How to identify material controls???How will assurances be validated???What should be communicated to stakeholders??What is the value in the proposed changes??What are the cost and resource implications? All in all, an energising three hours with plenty of questions and challenges, as well as audience participation.??Did we have all the answers??No!??But it is still early days establishing how best to respond to Provision 29 of the new Code.??Nevertheless, this was a hugely valuable debate and exploration of the issues. Our thanks to all those who contributed!

On 3 October 2024, the Risk Coalition was honoured to have been invited again to present at the annual Chartered IIA Conference. Over 120 Internal Audit delegates crammed into the Westminster suite at the QE2 Centre, London, to listen to Peter Neville Lewis explain why “Reporting Up” is critical to good governance. Our new Integrated Assurance model was also examined. The session was chaired by Institute CEO Anne Kiem OBE, who led a twenty minute Q&A with Peter in response to questions from an enthusiastic audience. We are also delighted that the Chartered IIA is endorsing our latest and soon-to-be-published guidance, Raising your Game.

On 19 September, the Risk Coalition was proud to be invited by the Head of the Government Risk Profession to present a preview of our latest guidance on risk governance – Raising Your Game. The audience was around 40 government departments’ Heads of Risk. The venue was the iconic Churchill Room at the Treasury Building in Whitehall. Many of the challenges voiced were similar to those encountered by existing commercial organisations. The engagement and feedback from attendees was first class and we are looking forward to further building our relationship.

Phishing is a significant IT risk and this risk is largely a behavioural one. It is estimated that 90% of cyber attacks originate with a phishing attack. So, with cyber regularly identified by boards as one of the biggest risks their businesses faces, it is useful to be reminded what the warning signs are, and how to best prepare and respond. Polly Williams tells us how to avoid the common pitfalls. #RiskCoalition #RaisingTheBar #RaiseYourGame #riskgovernance #riskoversight #cyberrisk #cyberattack #phishing #riskmanagement https://lnkd.in/ehPKnK2x

In the world of corporate governance, the question of whether a principles-based approach or a rules-based approach is the most effective is often a matter of debate. Different jurisdictions and different regulators take alternative approaches and, indeed, different approaches may be followed at different times. Felix Ritchie considers these two alternative approaches in his blog for the Risk Coalition. He also looks at the cross-sector consultation document,?Raising Your Game?from the Risk Coalition and he draws on this to provides him with some lessons for data governance. #RiskCoaliton #RaisingYourGame #RaisingTheBar #riskgovernance #riskoversight #riskmanagement #datagovernance https://lnkd.in/ekXJdE_F

Raising Your Game is now here! In December 2019, the Risk Coalition launched its original, leading practice guidance for board risk committees and second line risk functions in the financial services sector, Raising the Bar. During 2023 and 2024, we have worked on draft, cross-sector risk governance guidance for boards, entitled Raising Your Game, and now welcome your feedback which we can consider before issuing a final version later this year. The consultation remains open until 16 September 2024 and details of how to respond to the consultation are contained in the document. We look forward to receiving a wide range of views and very much welcome yours. https://lnkd.in/eJW-vTsT

People risk is nowadays recognised as a very wide-ranging concept, in its many dimensions. Gone are the days when this focused solely on headcount (we haven’t got enough people! or, we can’t afford the people we have!) and their capability (we haven’t got the right skill sets!). Wellbeing is now recognised as a key part of people risk, and an important aspect of this is burnout. Burnout is a state of complete mental and physical exhaustion, where we become so overwhelmed that our performance at work can suffer, while physical and mental health issues can also affect us outside of the work environment. If not addressed and adequately managed, it can easily become a feature of high perfoming businesses. In today's Risk Coalition blog, Jane Hunter discusses how to maintain high standards and high levels of performance without suffering burnout. #RiskCoalition #RaisingTheBar #RaisingYourGame #riskgovernance #riskoversight #peoplerisk #wellbeing #burnnout https://lnkd.in/ezmPFq-A