Roads to Resilience

2 What are the

• the 12

1. Understanding the

“Recognising the need to create / maintain a culture – embedded in all staff rather than … an enforcement function. Behave and encourage behaviours in accordance with a resilient culture.” “Risk management must be used as an integral part of the management of the business and not a tick-box exercise.” “Recognise it is more about culture than process.” “How to understand the strategic and brand / reputational implications of operational failures.” “Risk professional must become valued senior provider to the business.” “Don’t hide behind rules and regulations. Adapt your language and style to your audience. Get out from your office and engage with the workforce in their environment and remember they know more about their risks than you do, they may just not be able to articulate it.” “How to establish a comprehensive, company-wide network and to enable a communication process around this which works.” “Resilience is more about culture, behaviour and mindset than insight to any tools that impact these things.” “Talking to people is the most indispensable.” “Awareness of tools and techniques is good – imposition is bad.” “ Tools help to simplify but are there to articulate meaning to key decision- makers.”

key implications for boards and executives to make their company more resilient? How were or could these be addressed?

managers’ answers included 4 main topics, some mentioned multiple times to the business and reputational impacts of risk were most

potential business and brand impacts of risk (6 mentions)

2. Need for board and

executive to recognise the cultural issues (4 mentions)

• issues relating

3. Need to communicate and make risk management

frequently mentioned

transparent (3 mentions)

4. Showing shareholder value of risk management (2 mentions)

3 What are the

• the 12

1. Changing role of

key implications for risk professionals to make their company more resilient? How were or could these be addressed?

managers’ answers included 3 topics

risk managers: need to embed the right thinking throughout the organisation (9 mentions)

• the main

issues raised were about the significant changes in the risk manager’s role

2. Requirement for risk manager to

communicate, educate and make risk issues more visible (4 mentions)

3. Need for support from the top (3 mentions)

4 What is the role of risk

• 11 managers answered this question. there were 4 topics raised

1. Other factors are more important (4 mentions). 2. Tools must be simple and easy to apply (4 mentions).

management tools and techniques in achieving resilience?

If any, which one would be indispensable in a modern risk professional’s toolbox?

3. Communication is crucial (2 mentions).

4. Scenario planning is key (1 mention).

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Appendix B: Details of Methodology