Roads to Resilience

Table 8.5 Leadership and governance resilience checklist for the board

‘Leadership and Governance’ resilience checklist Board members should ask “ to what extent are the board and senior executives sufficiently aware and/or provided with necessary information and assurance regarding … ”

Establish resilience agenda

1. The level of risk and resilience expertise that the organisation has directly available on the board and to the board

2. The resilience strategy for the organisation and the board mandate to achieve the five principles of resilience

3. The extent to which the board approves the resilience responsibilities and accountabilities of executives

4. The time, seniority, expertise, knowledge, skill and experience of senior staff member(s) leading the resilience function

5. The resilience and risk management implications and requirements of incentive schemes for the organisation

6. The activities in place to ensure that the risks to the reputation of the organisation are safeguarded

7. The relationship between the risk / resilience considerations and the ‘going concern’ audit requirements

Ensure risk governance

1. The basis on which risk management fits into the governance structure and the nature and extent of risk governance and risk reporting

2. The sources of assurance available to the board and details of the principal risks and critical controls for the organisation

3. The critical controls are operating as designed and that risks are managed in line with risk attitude and risk appetite

4. The nature, extent and frequency of the reports prepared for the board to provide assurance, including changes since the previous report

5. The delegation arrangements in place to any board sub committee and whether they are operating as intended

6. Regulatory, compliance and reputational risks and how they are included within risk governance arrangements

7. The arrangements and protocols for review of the operation and effectiveness of the board itself

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Roads to Resilience: Building dynamic approaches to risk to achieve future success