Writing in a Q&A format for a recent issue of The Corporate Board, risk expert Charles Fishkin addresses boards’ understanding of risk. Fishkin was the founding director of the SEC’s Office of Risk Assessment, a position he held from 2004 to 2007. In the piece, Fishkin highlights the need for evolution in approaches to risk management, and the importance of focusing on a process for risk management that “provides consistency and structure” for everyday decisions. He also notes the importance of good governance: “Look at companies that stumble, and those that consistently succeed. The difference is often found in the elements that comprise a governance program and governance-centric culture.”
The piece can be found here.