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Audit Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 9 - Does Agile have to be fragile?

Answering the phone after half past four on a Friday is always risky, and sure enough, when I picked up, Bruce one of our longer serving internal auditors, asked if I could join him and Matt, our IT Director in a meeting room for a quick chat.  It’s...

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Secret Diary of a Risk Manager, Risk Framework

Secret Diary of a Risk Manager: Entry 8 - The risk of people not understanding the risk framework

Ensuring there is a shared understanding of what we mean when we describe risks as “Severe” or “Material” or “Low” is a perennial problem for every risk manager. These words tend to get bandied about like they’re going out of fashion in risk meetings...

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Key Risk Indicators, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 7 - Key Risk Indicators

The highlight - and I use the word loosely - of this week has been spending time with Michelle in Customer Services who is surely one of the world’s most defensive women.

“So you are asking me to be a fortune teller?!  If I could predict the future I...

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 6 - Risk Appetite

Last year our Board recruited three new members, one of whom has become the new chair of the Board Risk & Governance Committee.  He’s a pretty cautious fellow who likes to gain a deep understanding. He has a background in regulated industry and has...

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 5 - This one’s a dead cert

On Thursday afternoon, while staring into space trying to think of creative ways to explain the concept to risk appetite to our Finance Director, I overheard one side of a phone conversation, going on just outside in the corridor:

“Yes, I know it’s a...

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Risk Management, Secret Diary of a Risk Manager

Secret Diary of a Risk Manager: Entry 4 - What are you doing, if it’s not risk management?

This week, our newest Risk Analyst, James, has completed his Management of Risk Foundation qualification and is full of enthusiasm for the subject. He joined us as a graduate and has spent the first six months supporting our highly manual, monthly...

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