Live from RIMS 2010 – Siloed Approach, Biggest Barrier
John Kelly 270004J7VQ firstname.lastname@example.org | | 0 Comments | 197 Visits
Expected to be released at RIMS 2010 this week in Boston is a new study on enterprise risk management. Sponsored by Marsh Inc. and the Risk & Insurance Management Society Inc. — the study titled “Excellence in Risk Management VII: Elevating the Practice of Strategic Risk Management” includes a 418 participant survey. When asked, “What barriers are in place that may prevent your senior management and board of directors from fully understanding the risk landscape of your organization?,” 40% of the respondents cited “siloed approaches to risk management.” Another thirty-six percent cited lack of awareness of concepts such as enterprise or strategic risk management, and 34% cited inadequate representation of the risk management function at the board and executive level.