Most companies consider their primary risk management tools to be compliance programs, internal controls, and internal and external audits. While reducing the incidence of ethical, reporting, and compliance violations is important, such a narrow focus prevents the risk-management function from helping their companies manage a much larger and ever-widening universe of risks.
This author team has introduced and documented how Swissgrid, the reliable electricity network operator for Switzerland, introduced two parallel risk management processes in its enterprise-wide system to identify and mitigate strategy risks, external risks, and, even, novel risks. First, it convenes recurring and highly interactive risk workshops for …
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