Live Blogging from RMA GCOR 2010 – Boards and Risk
John Kelly 270004J7VQ email@example.com | | 0 Comments | 281 Visits
Just attended a great session presented by Matthew Neels, Chief Compliance and Risk Officer at Capital One. Mr. Neels focused on building board interaction and driving board attention to the right areas of risk through an integrated risk management framework. He began with an interesting question, “Should you be using an implicit or explicit framework and how is your board making a decision on that framework?” The correct answer of course is: both are required to effectively manage risk.
The discussion then moved to how “driving board attention to the right areas can be difficult” as board reporting is often a “laundry list of potential risks, current issues and decision requests.” He stated, “Without a framework you have everything coming in at once without context.” He then offered several suggestions for preventing information overload:
The goal according to Matthew is to establish a “common scale that enables cross-category comparisons and risk aggregation.”
All GCOR 2010 presentations will be made available at: http
Tags: GCOR 2010