Depending on how mature your organisation is in Governance, Risk Management & Compliance, different scenarios might arise. We share some examples of them here that might prove to be an issue or just uncertainty, reinforced by vulnerability or timing. Remember that transparency improves profitability.
Scenario 1
We can see that sales increase and that we gain market shares however we cannot see positive footprints in our income, are we targeted for fraud? – Let’s contact RiskMaturity
Why do some management teams have difficulties and issues discussing the risk of fraud and corruption? Trust is very important, however we do sometimes tend to have more trust than control and imbalance in the business processes.
Scenario 2
We have grown so fast the last couple of years and we sometimes feel that our governance structure does not really match our organisation’s size – Let’s contact RiskMaturity.
The organisational structure after years of expansion does not necessarily match the governance structure that was designed for the past situation. Different objectives, strategies and complexities in businesses with changed business environments requires an updated governance structure in balance with the organisational structure.
Scenario 3
Some years ago we felt that we had our risks under control, today the business has grown and the environment tends to be more complex – Let’s contact RiskMaturity.
Demands on executives and management teams further down in enterprises and organizations increase with a number of internal and external requirements. Requirements are more complex than in the past and at the same time organisations tend to be slimmer today. A risk based approach in order to govern the updated risk map and infrastructure is also a good business case.
Scenario 4
We find competitors linked to financial scandals and hear about it in the media. We then ask ourselves, are we at risk too? – Let’s contact RiskMaturity.
We might be exposed and vulnerable in a line of business or specific regions where we are operating or where tradition acts in a way that is not appropriate today. We are also depending on business partners’ compliance and there are several incentives to incorporate their activities into our risk management process.
Scenario 5
We are in acquisition mode and need to ensure that the entities we are incorporating will have the same transparency and business ethics as we do. – Let’s contact RiskMaturity.