Ready to use prioritized Emerging Risks requirements, to:
Make sure the MRC team engages with management and staff to develop an aggregated and objective view of first line risk exposures, advises business areas on control issues and mitigation decisions, provides a first line review and quality assurance function, and promotes effective information dissemination and transparency of existing and emerging material risks and control issues. .
- What processes does management have in place to identify emerging risks affecting objectives and the related changes in risk prioritization in a rapidly changing environment?
- Does the board have access to the information needed to evaluate risks emerging from ESG trends?
- Is there a process in place to identify emerging risks and to incorporate into your organizations risk management plan?
- Do you have regular access to the information needed to evaluate risks emerging from environmental and social trends?
- How are the risks related to emerging markets addressed within your risk management program?
- What processes are in place to identify emerging risks affecting objectives and the related changes in risk prioritization?
- Does your organization monitor hazards, share information on potential risks and have an emergency plan of action?
- Do you have a good understanding of emerging technologies and business trends that are vital for the management of IT risks in a fast changing environment?
- Are the current risk management systems effective at capturing emerging environmental and social risks and opportunities?
- Which risk management techniques does your organization use to assess/ model emerging risks?
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