Refining Risk Management

In the January 2009 issue of CFO magazine, an article examines the risk management challenges faced by many corporations in the wake of the financial crisis.  The article entitled "Rethinking Risk" rightly advises that new approaches are needed to successfully implement effective enterprise risk management programs.  Here is an excerpt from the article.

But some CFOs caution that formal enterprise risk management (ERM) programs won't succeed if they don't mesh well with a company's culture. Impose a new framework from on high and you risk crushing something underneath.  Progress may depend largely on incremental improvements rather than technological leaps or massive consulting engagements. Existing risk-reporting processes must break down silos that impede risk oversight and prevent a broader awareness of risk throughout the organization. 

In most cases, a thoughtful, strategic approach to refining a risk management program is all that is needed. Wheelhouse Advisors provides cost-effective solutions to help corporations refine and streamline their risk management practices.  Visit www.WheelhouseAdvisors.com to learn more.