Establishing a central repository for risk and control related data is the first step in ensuring you have an accurate and comprehensive view of risk that can be readily conveyed to your executive team and board. Engaging your business units (the first line of defense) in risk management practices extends your ability to gain greater insight into known and emerging risks.
It strengthens the effectiveness of your risk management program by assuring your risk data is accurate and complete and your business unit managers are taking appropriate responsibility for their risks and internal controls and provides efficiencies that free up your risk management team to focus on more important issues than program administration.
The ultimate goal is to reduce the likelihood and impact of negative events, lost opportunities, and surprises and to increase the probability that your objectives will be met, in order to maximize the performance of your business.
Speak with an expert and learn how Anomalix can help you achieve your goals.
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