Deloitte’s paper examines the potential benefits of infrastructure improvements when developing the business case for more effective risk management: greater consistency; higher efficiency; deeper insight into risks and their interdependencies; and enhanced decision-making ability.
To maintain alignment between risk exposures and business strategy, a Risk Intelligent Enterprise draws on the coordinated efforts of three levels of risk management responsibility:
- Risk governance, including strategic decision-making and risk oversight, led by the board of directors
- Risk infrastructure and management, including designing, implementing, and maintaining an effective risk management program, led by executive management
- Risk ownership, including identifying, measuring, monitoring, and reporting on specific risks, led by the business units and functions