A risk strategy sets out what you want to achieve as outcomes for the management of risks and how you intend to achieve it. Your risk management strategy can cover all aspects of your business, from safety, financial, operational and reputational risk goals. The risk strategy should also include the way in which the organisation will consider risk and enjoy the same importance and frequency as other key organisational planning events. Connecting your risk strategy with your organisations vision and key objectives will align your efforts toward achieving outcomes.
Your risk policy is a key part of the risk framework and is your statement of intent as to how risk will be managed in your business, its focus and the behaviours that are required to ensure it becomes a part of everyday risk practice. It is crucial to get the intent of this document right, as it sets the tone for your entire business.
Riskcom can partner you through the development of your strategy, so that you develop a destination that is meaningful for your business. We can also assist with the effective implementation of your strategy to ensure that you continue to plan, act and sustain productive risk practices.