Are you really in control of your culture and conduct risks?
(Sponsored article) We all accept that conduct and culture risk is very real. History is scattered with its damage! Its management is therefore critical yet difficult. Why?
The risk itself is human-based and human-driven. It is therefore unpredictable, often invisible until it’s too late, and difficult to control given free will.
Society, regulators, customers, and stakeholders generally are becoming much more aware and conscious of behaviour. It is increasingly critical to earn and maintain a social licence to operate.
Culture and conduct is difficult to measure and “you can’t manage what you can’t measure” (Peter Drucker). The historical lack of data has traditionally led to the monitoring and measurement of culture and conduct and their related risks to being subjective and open to opinion.
Risk itself is the effect of uncertainty, arising from culture and conduct, on objectives. Uncertainty on something that itself is difficult to manage exacerbates the problem.
The levers to manage and influence culture and conduct are not always obvious and the connection between the levers and the risk is often unpredictable and dependent on the individual.
Read the full article here.
About Protecht
Protecht helps organisations through deep understanding, monitoring and management of risk. We provide the complete risk solution comprised of world-class enterprise risk management, compliance, training and advisory services to government organisations, key regulators and businesses of all sizes across the world.
