managing risk beyond compliance -...

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Managing Risk Beyond Compliance

By Jabulile Nkosi

Context

Premise

Premise

Revenue/ Investment

Citizens/Shareholder Returns

Risk Management

Strategy and Risk

Risk Management

Risk Management

Risk Perception Continuum

What Should Be – perception of risk derived from an external environment such as external standards

What is – comprises of the uncertainty of the organization’s operating environment such as capabilities and capacity

What could Be – is the source of the strategy of the organization and the perception of what risks need to be taken for the strategy to be achieved

Risk

Opportunity

Early Movers Miss Exploit

Risk Management

Value

Risk Opportunity

EnhancementErosio

n

What lies Beyond Compliance?

Risk Management

• CROs to be central to planning and monitoring • CROs to proactively responding to emerging risks • Continuous engagement and education of Accounting Authorities and

Accounting Officers • Risk management to be capacitated to empower line manager to EM

EDD risk management • Government wide engagement required on the management of

material risks on service delivery value chain • Introduction and enhancement of existing risk management tools

Next Steps

Building Sustainable relationships

Thank You