Opportunity Versus Onus: Is Risk and Compliance Management a Value Creator or Just an Expense?

Sponsored By BearingPoint

Topics:

Budgeting & Planning > Strategy

Compliance & Governance

Finance & Risk Management

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Abstract:

While managing day-to-day risk would seem to be common business sense that inherently provides value, extraordinary compliance obligations — mandated requirements that add time, expense and anxiety to routine business procedures but tend to do little for the business itself — seem to be a major cause for concern in many organizations. In the noise that surrounds these concerns, few hear risk management's quiet cries for attention and distinction from compliance. The challenge comes with changing the perception of risk management from being "just another expense" to becoming a value creator. Imperatives for change should be more than procedural requirements. In fact, both risk management and compliance mandates can create opportunities for companies to fulfill the fundamental business needs of the organization for better information, to make business processes more effective, and to promote successful execution of corporate strategy. Doing risk management well can even be a strategic differentiator.

DETAILS

Sponsored by: BearingPoint

Posted: November 20, 2008

Length: 20 pages

Format: PDF (500 kb)

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