Jun 1, 2008
Board-Level Risk Committees
Traditionally, senior risk executives have managed risk at the operational level of organizations. Boards have had general oversight responsibilities for risk, with audit or finance committees taking on more specific risk responsibilities. Now, with the heavy workloads of audit and finance committees and a trend towards implementing enterprise risk management (ERM) processes, many organizations are finding it beneficial to form separate board-level risk management committees. The risk content of an organization is often still addressed at the board level across many committees, while risk process is the focus of the separate risk committee.