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The Operational Risk Handbook for Financial Companies: A guide to the new world of performance-oriented operational risk by Brian Barnier

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4.1. Overcoming Barriers to Better Risk Management

What stands in the way of your getting more traction for your initiatives in your institution?

‘It depends,’ is the usual answer. To help you more easily diagnose your situation, these steps might help.

Evaluate the decision process

First, evaluate the decision process.

I once had a conversation with a risk management leader who wasn’t getting sufficient support from her executive management. She had follow-up meetings where each time she tried to improve her description of a particular operational risk, she was frustrated that her management didn’t ‘get it’. Yet, in inquiring more closely, they actually did appreciate the problem, they just didn’t support the solutions—or lack thereof. ...

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