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What are the Best Practices Associated with Implementing a Risk Assessment Framework?

Stout Causey Consulting

Stout Causey Consulting
Bob Burkett, Senior Manager

Runtime: 02:37

Key Takeaways:

  1. Active CEO, CFO and Audit Committee involvement is critical.
  2. Address all areas of the risk universe: Financial Risk, Operational Risk, Regulatory Risk and IT Risk.
  3. Tie risks into corporate goals and objectives.
  4. Develop Risk Coverage Map to ensure adequate resources are being assigned to each risk element.
  5. Engage outside assistance when internal expertise is limited.

Location assistance for this interview provided by The Institute for Financial Excellence.

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