Risk Oversight in 2010: The ABCs for CPAs - CFO Roundtable 1st Quarter 2010

As we look toward recovery in 2010, senior financial managers, their staff and corporate directors need to take a new perspective on risk that is both holistic and pragmatic. The risk profiles of most companies are growing more complex, and greater demands for transparency are drowning the risk infrastructures of today's organizations. Plus ... risk isn't something to be avoided, just managed.

Listen to leading experts ... discuss:

• Why you should care about risk management including:
  • The nature of risks has changed in this economic cycle;
  • The risk/reward equation means that managing return and managing risk are both critical (risk is a good thing!);
  • It's not just compliance ... It should be driving strategy
• How to start? What do you do to begin assessing my risk oversight approach?
  • Did we have an inventory of what we already do to manage risks - what functions or activities already exist?
• What kind of risks might be "falling through the cracks"? (Emerging, strategic risks)
• How do I make sure my biggest risk is being tracked
• Developing the right risk culture
  • Assessing risk culture - is risk management stigmatized as compliance, bureaucratic, non-value adding?
  • What's the view of risk oversight from the C-suite?
• Developing a more systematic and robust risk management process over time including:
  • Identifying risks - what are some common techniques - workshops, surveys, interviews?
  • Assessing risk - provide guidance on assessing probabilities and impact (5 point scales?)
  • Coordinating risk assessment with the strategic plan
  • Developing and implementing a risk response
  • How senior management should work with the Board
  • What resources and tools are available and how do I get started today?

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