Strengthen Your Bottom Line with Smarter Risk Management & Governance
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Today’s Insight: Proactive risk management paired with strong governance protects growth, reduces surprises, and builds investor confidence.
Summary
Risk isn’t just about avoiding failure—it’s about making better decisions, faster. Companies that embed risk management into governance processes outperform those that react to problems later. Strong governance creates accountability, while risk management ensures the business can navigate uncertainty without disruption.
Key Takeaways:
Risk and governance must be integrated at all strategic levels.
Governance frameworks reduce internal friction and improve decision quality.
Risk assessments are more effective when tied to business objectives.
Real-time dashboards improve response time and leadership alignment.
Do, Decide, Delegate, Delete:
Do:
Conduct a current-state risk and governance audit.
Map business risks to strategic goals.
Establish or update your risk appetite statement.
Decide:
Determine the frequency of board-level risk reviews.
Choose a unified platform for tracking governance KPIs.
Prioritize which risks require mitigation vs. monitoring.
Delegate:
CFO/COO: Lead risk-mapping initiative.
General Counsel or Compliance Officer: Update governance policies.
IT or Risk Analyst: Implement risk dashboard with alerts.
Delete:
Redundant compliance procedures that slow decision-making.
Legacy risk logs not linked to strategic value or current threats.
5 W’s & A How Checklist
Who: COO, Risk Officer, Compliance Lead
What: Audit, map, and embed risk management into governance
Why: Improve agility, reduce exposure, strengthen decision-making
When: Initiate this quarter, review monthly
Where: Boardroom, strategy sessions, dashboards
How: Cross-functional teams, updated policies, real-time tools
Actionable Steps:
Identify Risks:
Launch cross-functional governance & risk review team.
Define top 10 strategic risks across departments.
Analyze & Assess Risks:
Align each risk with mitigation plans and executive owners.
Implement real-time risk tracking (Excel, Power BI, or GRC tools).
Address Risks:
Present findings and plans to the board.
Begin training on new governance frameworks and accountability roles.
Ongoing:
Set a monthly cadence for reviewing governance and risk KPIs.
Evaluate ongoing risk response efficiency every quarter.
Metrics and Measurement
Risk Response Time: Avg. time from risk identification to action.
Governance Adherence Rate: % of teams following defined processes.
Strategic Risk Alignment: % of key risks linked to business objectives.
Audit Findings Closure Rate: % of resolved vs. open audit issues.
Risk Ownership Clarity: % of risks with clearly assigned owners.
Embed risk into every strategic conversation—don’t let it be an afterthought. Start your audit this week and build the frameworks that allow your business to scale with confidence. Download our free Risk Register Template to help you and your team get started.
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Lauren Carter, founder of Lauren Ashley Consulting, drives business transformation through strategic and operational excellence. She has partnered with high-growth firms, elite athletes, and global organizations to enhance growth, performance, and profitability. LAC’s clients and the organizations we have worked with or alongside include the Sodexo, USPS, NerdWallet, NBA, NFL, United Nations, World Economic Forum, IMF, HubSpot, Zipcar, IronMan, Chegg, and more.
Explore our services: laconsulting.co/services | Follow LAC Founder, Lauren Carter, on LinkedIn for insights on leadership and strategy.
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