Home > Risk > Deloitte advises CFOs on risk

Deloitte advises CFOs on risk

Deloitte has continues its risk-intelligence theme with a new product: The Risk Intelligent CFO, Converting risk into opportunity.

This is definitely something I would use to facilitate a conversation with a CFO that is not ‘risk-savvy’.

While the document is not perfect (it could say more about managing risk as part of every decision), Deloitte’s advice has some excellent points:

  • The inter-relationship between strategy and risk, especially identifying and managing risks to corporate strategy
  • You need to be prepared for the risks that you did not anticipate
  • Focus on the risks that matter, and then monitor them actively
  • Work closely with the board, ensuring they have the information they need
  • Some risks should be embraced, where they can bring great reward
  • Control risks to your reputation
  • Risks interconnect and can cascade
  • Understand and address risks of non-compliance

As I said, I would include more about making the consideration of risk a management competence: required training for every manager, so they can make risk-intelligent decisions.

What would you add to the discussion with and education of the CFO?

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